This is where we would buy AAPL
- Posted by admin
- on November 2nd, 2012
The weekly 50sma is now getting close enough to act as a magnet and we believe the first test will be a great risk/reward long:
Currently stands at 557 and last time $AAPL went under it was in April of 2009. The last test of the weekly 50sma (which held like a champ) was in June 2011. The weekly 50sma is 4% away– it might not get there, but it’s the first hard edge place that would get us involved. How about shorting into there? Not interested as it is already too oversold — we want a long at 557. Anything else right now doesn’t interest us.
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- Keep swimming but with an eye on the shore
- Make peace with not catching every move
- 21 days and counting
- Trade against it
- What’s your edge?
- Wait for it
- Keep Calm and Carry On
- Even if you don’t trade it, you have to watch it
- This is where we would buy AAPL
- No matter what your time-frame, be patient enough to trade against an edge