Last Update: 7.8.13
7.1.13 Monday
[At Open] Entered Long (Calls) @ $403.30
Find some support on Friday right at $390ish level with Bullish Piercing candle formation. This candle formation is not as strong so I usually wait for a confirmation on next day and when it opened with sizable gap this morning, it was good confirmation for me that we could see some follow through next few days. Also you can see that we had a nice volume spike on Friday so it was definitely a watch for this morning and decided to get in with long positions (Calls).
7.2.13 Tuesday
[At Open] Added More Longs (Calls) @ $410.68
Slightly gaped up this morning and now trading above 10EMA here and I decided to add more to my current positions here. I am targeting about $430ish because if you actually flip it to line chart, that’s the pivot level but 425ish the next pivot with candle. I will be watching those two levels and the volume as well as we would need volume to confirm this recent rally here.
[1 Hr In] Closed 40% Positions @ $418.50
[5 Hrs In] Closed 50% Remaining Positions @ $414.79
These few days of trade is not my style but with volatility in the market, I am forced to scale it down a lot. I am now only holding about 25% of the total positions (calls).
[After Close] Strong finish
Strong finish and looks like we have three white soldiers candle pattern here. It’s a bullish reversal pattern but often times after three white soldiers appears, a pull back can be commenced before continuation. I do like the increasing volume today and I think we can get up to about $425-$430 level next few days.
7.8.13 Monday
All Positions Closed Out @ $413.33
I did try to add small amount to my longs this morning before I got stopped out completely. It will be imperative to see which candle it closes with today as it is showing relative weakness while the market is showing strength. If close with bearish engulfing, that wouldn’t be good for $AAPL.
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8 thoughts on “$AAPL My Long Trade (Part 1)”
Kay,
Samsung numbers were less then expected last week. showing weakness in cell phone sales.
it hurt Apple on Friday. Now an analyst says that apple is slowing down production of their phones by as much as 20% due to lack of demand….
http://www.cnbc.com/id/100870193?__source=yahoo|finance|headline|headline|story&par=yahoo&doc=100870193|Apple+Slashes+iPhone+Prod
I was with you on all your points about apple.
I thought we were seeing a reversal heand and shoulders but I saw that fail. Then I noticed that it hit $460 twice and $390ish twice. So I also thought we were going to be trading sideways. But apple struggled to close above $421 four times since last tuesday! Once I saw it near $421 this morning (fourth time) and fail, I bought some puts.
I noticed that when apple makes it’s way down, it usually opens up during the opening bell but sinks to new lows by end of day. As long as there is news to push this up OR down, it will follow that trend. I see 3 BLACK CROW coming. I still have my puts but will add more tomorrow morning if it opens higher than today’s close. News of lower phone production and samsung’s weak numbers (although they were the best ever) really killed the momentum it had.
It exploded up on speculation on an iWatch last week but I think it will be a long time before we see it (next year at earliest?).
We could even see this go back to $400 this week. If earnings are really bad (all signs point to a bad quarter for their iphone) then we could finally see that $360 bottom. the question is will we see that BEFORE or AFTER the earnings. I think there is enough anticipation on bad numbers to break that $385/$390 bottom before earnings. I will sell my puts tomorrow if I am right and wait as see if support breaks before getting back in.
Good luck.
Oh yeah, HTC didn’t have good numbers either. I heard but not sure what those numbers were.
Also, Nokia is hurting AND Blackberry got roasted when they reported. (should have loaded up on puts for that one but I didn’t know they were reporting. Saw that a mile away)
Not good for smart phone growth overall. We could be maxed out in terms of global growth. Everyone must have a smart phone by now and are just upgrading. The exponential growth is just not there.
I know that AAPL will zoom up next time they have a presentation for their new products in anticipation for the iWatch. I would buy a lots of calls the DAY BEFORE the event and then sell all right before Tim Cook speaks. Even buy puts then cause no iWatch will drop the stock. It’s worked almost every time. Just look at the stock going up right before WWDC and then the drop right after they were done. Only once it didn’t happen because people were so bullish. That’s when it was going to $700 on a frenzy.
Good luck.
The old bottom now the new top?
AAPL hit $420 and bottomed there back in March, April, and then again in May.
AAPL struggling to get above the same number. Could we be seeing a new ceiling from the old floor? Have to wait and see.
Zex_M19 as of today, it does look like bull flag but last several times potential bull flag played out like bearish reversal. So yes currently old support new resistance kind of thing happening. We start closing below 10EMA, i think trouble.
2kaykim Zex_M19 Looks like apple trading between 410 and 420. Something has to break. Will watch this next few days to see what happens. Also if there is news to support a break up or down, then it most likely is a real move.
2kaykim Zex_M19 Bullish engulfing today?
2kaykim We are right at the 50EMA today.
Zex_M19 looking strong today but volume has been weak but its like that through out the whole market as of late. we break above 430/50EMA, i think we can see 453ish. 100SMA at around 435 to watch