Tuesday, September 3, 2013

Trade Idea: AAPL

AAPL is starting to look interesting again, I'm not on board for the "Icahn Express", for all I know he could be selling in to a bounce, so while I think AAPL long (speculative in my view) is possible to make a decent return for a fairly quick move (perhaps around a swing trade), I think I'd prefer to use leverage and go with AAPL Calls, in the money with an October (monthly ) expiration, but that's just me.

I'm not opening any new AAPL position here, but I do find it interesting.

I'm not so sure there's a rush on this, I'll look at closing indications, but it feels like there's a bit more time, perhaps in to early tomorrow, I'll know more after I post the closing indications. For now here's an abbreviated look at AAPL.

 1 min intraday shows Friday's strength in 3C at a flat price range, the gap up and a small negative divergence this a.m. and now as we pullback, intraday positive 3C again.

 The 3 min chart makes Friday's change of character in 3C (positive) very clear, no damage was done here intraday as we are still leading on the more important timeframe.

5 min chart shows relative and leading positive divergences in 3C all along this flat base like a market maker was tasked with filling an order at VWAP or more specifically right around this $487 or so level.

The 10 min chart is now leading, Friday gave it a big start so that's a lot of movement for a longer chart in a small amount of time.

Even the 30 min which went negative and was one of the reasons I stayed away from AAPL is now showing a positive character and again it's along that flat range where we most often see positive and negative divergences.

No comments: