Apple kept on falling  in dramatic fashion right to my buy point around the $508 area as stated in my previous Nov. 8th post : https://xtradespace.wordpress.com/2012/11/08/aapl/

It was a gift of a trade since I could double dip by buying both a large day trade position and a smaller longer term position at the same time.

Bought in the low $509 area and sold my day trade position in 2 lots. One lot in the mid $519 area and the 2nd in the mid $527 area.

For the remaining longer term shares, my stop is below the low of $505.75.  The best part is the day trade paid for any losses in this trade so it’s like a free ride at this point.

Target is the 20ma (fuchsia line) which is sitting around the $570 area.

It’s a very bullish hammer candle pattern (price drops dramatically and then recovers to end the day positive) that hopefully will be confirmed to the upside next week.

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