Just want to say that the rally in Apple shares is insane. Barely even crossed the oversold levels on the Stochastics RSI of 20 every time it rushes to new highs since July 9th, 2009.
Showing posts with label AAPL. Show all posts
Showing posts with label AAPL. Show all posts
Long Apple (AAPL)
Long Apple at $134 after the nice pullback from the Year’s high at $145. I believe the Steve Jobs news is overdone, treatment or no treatment it is almost time for Steve Jobs to retire and so I still have plenty of confidence in Apple going forward especially with Tim Cook potentially taking over the realm. Steve Jobs will be coming back by the end of this month and there have been reports that Steve Jobs was seen at the Apple campus yesterday. I think there’s plenty of time for Steve Jobs to train his successor which I believe he is trying to do now.
Stop loss will be placed at $132 with a short term target price of $145.
Pulled out of my Apple (AAPL)
Pulled out of my Apple trade today at $145.67 as I feel that the its due for a pull back to the lower support level around the $139.10 level. Will look for reentry once that pullback occurs.
If it doesn’t then I will enter back in once it breaks the resistance around the $147.09 level.
I believe all the news is pretty much out and based on the past patterns with AAPL it has almost always been buy the rumor and sell the news. Sure, Steve Jobs is back and in better shape again to run the company and that is good news. Plus I’ve also been getting mixed rumors about whether Apple will release any new products on the developers conference. If they don’t, it will be a huge disappointment for the markets especially when the Palm Pre is coming out around the same time.
I am still bullish on this stock but I just want to take profits in the near term and will wait for reentry around the 139.10 level or above the $147.09 level.
Went long on Apple (AAPL) today
Went long on Apple today at $135.18 after a failed attempt to short them a couple of days ago. Strong bullish bias is alive in Apple shares especially after seeing the Fibonacci retracement only pulled back to the 25% failure level before rushing back and breaking the $133.35 level. Sure volume was a little low, but I’m happy enough to see the stock close above the prior resistance.
Next key resistance will be around the $135 area but based on the rumors circulating around about new iPhones and a possible netbook for Apple by June or July, I believe there’s enough momentum for the stock to keep moving North.
Covered my Apple trade today (AAPL)
Covered my Apple trade today after markets pierced through the three days of heavy resistance at $122.50 to $126.70 at the end of the close day. The market is seriously alive still and Bulls are still ready to fight.
Update of my Apple (AAPL) short
Still keeping my Apple short over the weekend as the resistance line is becoming more and more defined. During the first two hours of trading today I really thought that the bulls won the better hand, noticeable by the long upper shadow on the candlestick. But after those two hours the buying interest just faded and Apple ended up closing lower falling right below the $123.50 resistance line.
Based on today’s price actions, I believe the Bulls really became discouraged and I would not be surprised if they gave in and sold off next week.
Still keeping my Apple short ($AAPL)
Kept my short on Apple overnight as it closed very near the the resistance line around the $123.00 level. On top of that volume today was a little dry being 30% below average at 15.1 million. Tomorrow will be the key determinant for me to hold or sell.
Shorted Apple today ($AAPL)
Shorted shares of Apple today at $119.97 as it looks like the euphoria has finally ended and the negative retail sales number today may be just the catalyst to gain this negative momentum on top of the recent report that AT&T is going to lower the subscription costs for the iPhone by $10.
Short term target is around the $111 area but will reassess my strategy once we get there. Buy to cover stop will be placed above the $122 area.