This blog is intended to serve as a journal to record my positions as well as insights and information I gathered about the market.
Kept my short on Apple overnight as it closed very near the the resistance line around the $123.00 level. On top of that volume today was a little dry being 30% below average at 15.1 million. Tomorrow will be the key determinant for me to hold or sell.
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3 comments:
The 50d sma passed over 200d sma, the "golden cross", on Wednesday, 5-13-09, as AAPL was breaking down. That cross wasn't very golden, lol. Sometimes get a pop off that cross. Hourly chart AAPL is still bullish, monthly chart is bearish. I would guess this short term AAPL rally is almost over, as tech & overall market doesn't seem to have the same enthusiam of late. AMD will also be arriving soon at the golden cross, btw.
Yeah today's stock movement was very bullish it went up all today. But Volume did not confirm it at all. Yeah I believe that $132 will be the short term high for now. I doubt we will be able to break it anytime soon.
I'm still keeping my AMD though, even if it went down for the day. Market is damn bullish on that stock. Look at the volume in the options chain, huge call buying.
I'm holding a few RIMM puts, so share your sentiment.
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