AAPL: Buying the Dips!

[Daring]

AAPL is in a range that has not been completed yet, the previous breakout was obviously a headfake.

I marked the top mid and low of the range and the areas to buy (GREEN), with the area to sell (Circle).

It is too strong of a company to collapse without doing the right shoulder completion, then we'll see.

 

[cactiman]

Quote from Daring:

AAPL is in a range that has not been completed yet, the previous breakout was obviously a headfake.

I marked the top mid and low of the range and the areas to buy (GREEN), with the area to sell (Circle).

It is too strong of a company to collapse without doing the right shoulder completion, then we'll see.

Yes, there should be some rally attempts.
So you see 705.07 as the top of the head then?
Don't see it making a higher high above that?
(doesn't need to be 800!)

 

[Daring]

Quote from cactiman:

Yes, there should be some rally attempts.
So you see 705.07 as the top of the head then?
Don't see it making 800 next year?

Past 640 is too much of a prediction, they would need to break the right shoulder and form a base at it's top, until then got to stand with the high probability setup.

I learned from reading old logs in this board, that it's better to predict the completion of a pattern vs predicting what happens after it completes. All I have needed to trade since then.

 

[cactiman]

Quote from Daring:

Past 640 is too much of a prediction, they would need to break the right shoulder and form a base at it's top, until then got to stand with the high probability setup.

I learned from reading old logs in this board, that it's better to predict the completion of a pattern vs predicting what happens after it completes. All I have needed to trade since then.

Good point. Everybody predicting numbers is just guessing anyway.
I'd like the Trend to continue of course (talking my book!), so a new high above 705.07 is what I "want to happen".
But I see the resistance in the 650 area on the daily chart, yes.

 

[Daring]

Quote from cactiman:

Good point. Everybody predicting numbers is just guessing anyway.
I'd like the Trend to continue of course (talking my book!), so a new high above 705.07 is what I "want to happen".
But I see the resistance in the 650 area on the daily chart, yes.

Another thing I learned is to exit at resistance, let them fight it out, if it looks won by the bulls you can always get back in with a price action based stop.

 

[cactiman]

Quote from Daring:

Another thing I learned is to exit at resistance, let them fight it out, if it looks won by the bulls you can always get back in with a price action based stop.

Swing Trading the waves!
Better to do with the actual stock I think.
The pricing on Spreads is a bit more sloppy.
Though when AAPL has gotten way ahead (stock price of $600 against a 400/395 Spread for instance) I've been able to get out a couple of months early with most all of the profit.

 

[Daring]

Quote from cactiman:

Swing Trading the waves!
Better to do with the actual stock I think.
The pricing on Spreads is a bit more sloppy.
Though when AAPL has gotten way ahead (stock price of $600 against a 400/395 Spread for instance) I've been able to get out a couple of months early with most all of the profit.

I don't dabble with options as much as you do but when I like an area and Im not sure if it can get there but we are close from it I do my share of put and call writing.

 

[cdcaveman]

I think a break out in the spx is due... apple is subject to whatever happens with the macro environment at these levels... that's just my two sense... the risk is up. We are facing a potential economic recovery.. I think the market will get way ahead of this slow recovery... the market is the leading indicator

 

[cactiman]

Quote from Daring:

I don't dabble with options as much as you do but when I like an area and Im not sure if it can get there but we are close from it I do my share of put and call writing.

There are pros and cons to all the different methods of course.
Nice to have all the choices.
I plan on trading stocks again in the future - hopefully after I build up the account a bit.
It will be nice not to lose money when the stock sits still (like with long calls, etc.), and it will be nice to be able to sell right now for a profit, and not have to wait for time decay (like in spreads, etc.).

 

[Daring]

Quote from cdcaveman:

I think a break out in the spx is due... apple is subject to whatever happens with the macro environment at these levels... that's just my two sense... the risk is up. We are facing a potential economic recovery.. I think the market will get way ahead of this slow recovery... the market is the leading indicator

I used to trade like that and did not get good results, I now just pay attention to patterns and price and try not to think too much.

The more I think the more I screw up, when its time to think I use it for risk management.