So I am going to buy it here and see what happens. This has been a great trading stock for many weeks now. Stop is obviously a loss of support.  AAPL shears through the 450′s and I take a loss. It is as much due to the macro (read: T bond yields, etc.) as Apple-specific.
They are talking about iPhone duds and analyst downgrades in Apple (AAPL) this morning. That’s fine because I sold it well below the 540 measured target (another example of not being greedy working well in this market). This one has proved to be a great trader. If support in the 450′s is registered and if the macro market is constructive at the time AAPL could offer another long trade. Then if it hits 530 to 550 one day as expected, it could be a good short or put buying opportunity.
But really it is a neat gizmo maker without much of the associated risk of digging ancient money out of the ground.
I am in some rare and gratifying zone where my longs are working, shorts are working and the realization is with me that I did not suddenly become a genius. What I did do what filter bullshit for weeks on end and get in position with the macro.
Anyway, AAPL is getting over bought but targets 530.
 That’s it, I hate hype and this Icahn tweet hype is too much. I’ll take the profit below target right @ 500.
Bought it for the ‘W’ pattern, took profit at
50 [ed; oops, meant 200 DMA] day moving averages and bought it back. Now AAPL is apparently ready for the move to 500.
There is resistance at the low 500′s, which is also the area the ‘W’ measures to. I’ll probably sell there but I really like this stock and would miss it. <—– look, right there… EMOTION! Got to keep that kind of thing under wraps.
As noted previously I bought AAPL for a trade based on a ‘W’ bottom formation and the fact that sentiment toward this previously over loved stock was bombed out.
Normally I would take a nice profit at the 200 day averages, and I just might. But I am given pause on that by the weekly chart, which shows no resistance up to the low 500′s if (IF!) AAPL can hold today’s pop.
I think volume may come into play here as a decider.
I am not necessarily going to post anything here if I sell. I just like showing stock charts and pondering questions sometimes.
 Sold, 10.4% booked and now I don’t have to worry about it. Plenty of other stocks out there.
Who’d have thought that the major stock that has been on the outside looking in for much of the last year would be the pump du jour for an over bought, over loved stock market?
I bought AAPL for the Model portfolio based on the ‘W’ Bottom technical potential and due to the over hyped status of some of its competitors. I came close to selling this week but decided to hang on through earnings because it was still above the support zone.
I realize that Apple is so 2012, but as I sit here typing on this Mac, which has been the best tech gizmo I’ve ever used, I can’t help but wonder if the Apple negativity has gotten a little trendy at this juncture.
Regardless, it is just a trade but it is a trade that is ongoing. Glad to see the market humping it today for another reason to rally. Speaking of the market, I think it’s getting nicely over done once again.
I stopped out of a failed counter trend trade at no gain. But the big picture on AAPL remains bearish per this weekly chart, which has the details.