Aggressive Fade: AAPL / FSLR Update

I often say I never trust parabolic moves, most of the time in the past you've heard me say that on short squeeze parabolic moves, but I'm consistent, even on moves down like this, even in a market that desperately deserves it and I'm very bearish on, things don't move in straight lines, Wall St. will never make it easy and once you understand that, things get a bit easier.

Today's move is well deserved from what I see in credit, 3C, breadth and more, but again, things don't move in straight lines. Look at a bear market and you'll find there are nearly as many up days as down days.

Today's parabolic move is not confirmed everywhere, I'll leave FSLR puts open because they are confirmed....

FSLR

 1 min confirmation

2 min confirmation

3 min confirmation 

 5 min confirmation ...

And I can keep going through 10, 15, 30 and 60 min, all confirming the move down so I have no objective reason to close the FSLR puts.

But AAPL...?

1 min is building a positive divegrence for a short term move, likely a fade of this morning's decline, maybe a gap fill. This doesn't mean I like AAPL for on a longer basis, I'm considering the puts that were open and now closed.

The 2 min chart is seeing migration of the positive divegrence.

As is the 3 min chart now, it should keep building until AAPL pops and fades part or all of this morning's move.

For an aggressive trader who is Reg. T compliant, this looks to be an interesting day trade or perhaps a bit longer as we run in to the weekly op-ex pin tomorrow.

I'd use pretty short expiration calls, maybe next Friday.

The 5 min chart is in line and this may or may not change, on a longer term I do not like AAPL and am looking for the right entry for an equity short position, although there are others that look better like NFLX or PCLN.

The 15 min chart is deteriorating and this will likely not be repaired so it will become part of an equity short position/analysis/entry.

I can kee p going through timeframes, the 30 min is leading negative as well, we just need the 60 min to turn down which is just about in line locally.

However for now, the AAPL put is closed, here's the P/L

the P/L comes to a gain of a bit over 18% for a position opened Wednesday of last week, Trade Idea (Short term Options) AAPL Put with an add to,  this is why I prefer buying in the money and with more time than I think I'll need, usually about 3x more, it gives the trade a chance to work.

In any case, I'll be looking at a potential AAPL call or maybe in one of the averages, it has to be a strong trade, not just a fade of a falling knife.