Last Update: 4.18.13
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Related Articles
Article from 9.28.12 – “10 Reasons of Why I am Extremely Bearish on $AAPL“
Article from 12.15.12 – “Why I Believe $AAPL is Headed $360“
Article from 1.1.13 – “Short-term Bullish Trade Idea Gone Rogue $AAPL“
Article from 2.12.13 – “Why I Entered Bearish Today on $AAPL” (Part 1)
Article from 3.27.13 – “Watch That 50!“
Article from 3.27.13 – “Why I Entered Bearish on $AAPL” (Part 2)
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4.12.13 Friday
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(At Open) Entered Bearish (Puts) @ $433.79
I entered bearish at open this morning as yesterday we threw a doji at 20EMA and $437 resistance. $420 is going to be strong support to break and I might even consider closing my bearish positions at $420 if we don’t see strength to break that level.
(After Close) Doji Reversal but Volume is Weak
We do have what it looks like Doji reversal here with but the concerning matter (for bears) is the low selling pressure today. Today being Friday, it’s not too surprising but if you take a look at March 26th (see 1st red arrow), we also had very low volume but subsequently though the bearish run continued with increasing volume next 3 days. So that’s what I am looking for next 2-3 days to increase in selling pressure and find momentum to break $420 however if we continue to travel lower without much volume, I am not sure if we are going to able to break $420 support as it is a major pivot level. We break below $420, $410 and $390 is expected.
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4.15.13 Monday
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(At Open) Added More @ $426.82
(Closing) Holding All Positions
$420 is a major pivot level. Upon breaking this level, lower price, perhaps $410-$400 is expected. Unlike $AAPL’s most down days, today, bears have been dominant throughout the whole day. Selling pressure (volume) is not as high as I would like to see it but I’ve decided to hold on to my positions to see if we can possibly gap down tomorrow or break that $420 level.
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4.16.13 Tuesday
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All Closed Out @ $423.79
This isn’t my ideal trade (2-3 days of trading) but I was hoping to ride it lower for another week before the ER but looking at today’s intra-day action, it seems that $420 level seems to be holding up pretty well. With the ER coming up next week, I wouldn’t be surprised to see $AAPL continue to move sideways and grind until the ER resolution.
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4.17.13 Wednesday
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(At Open) Re-Entered Bearish @ $418.13
(1 Hour Later) Closed All Positions @ $405.16
I am not a pig. 50% ROI in 1 hour trading is very satisfactory for me.
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4.18.13 Thursday
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Re-Entered Bearish Little After Open @ $402.11
Closed 1/2 of My Bearish Positions @ $390.52
(1 Hour Before Close)
Keeping the other half overnight.
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4.19.13 Friday
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Closed Out All Bearish Positions @ $395.37
I think this is about all I am going to do until the ER.
7 thoughts on “Not Another Bearish Entry on $AAPL”
INTC reporting after close tomorrow on Tuesday. Reports of bad PCs sales last week pushed tech down and now INTC could be the first tech company reporting that confirms weak sales. That could hit stocks like AAPL and GOOG near their support levels causing them to break. Now even gold is collapsing to new lows. Reports of the Boston explosion didn’t help the market either. I pray for all those people.
Looks like INTC earnings and a few other factors did it! $420 broken!!
Kay, could we see apple retesting that 50 again soon? Earnings didn’t destroy the stock like last time. But it didn’t help either. Could be that we trade sideways and move then move up towards May dividends (May 13). If it doesn’t break 50 then we continue on our bearish trend down back to retest that 385 (slower growth and no new product announcement until Fall 2013 is very negative). Then we have WWDC in June. They are not suppose to announce new product until Fall but the logo could be giving hints of an iWatch. If there is no significant product in June, then we could be heading towards that 360. Timing looks about right to bottom near 360 (summer time) if trend continues. Market might bounce back up during summer in anticipation of Fall announcement (they usually try to trade months ahead). I didn’t hold any options before earnings. Glad I didn’t. Looks like a wash. Good luck!
Zex_M19 hmm the way it closed today, we might see $AAPL rally back up to 50EMA
2kaykim Zex_M19 second day after earnings showing some strength again. Buying May calls on dips. I think dividends are too good for investors to not get in.
2kaykim Sold half my position. Will hold rest. Will buy again on any pullback until it hits that 50.
2kaykim didnt expect the huge move today. sold the rest.