Thanks man.Irish 2.0 said:SF2004 said:Either the charts work or they don't... The charts show there needs to be a small pull back in order to continue up.Irish 2.0 said:Why would you go against the trend? AAPL just had a blowout ER and the QQQ is GREEN. Nothing about AAPL is a short. It is the market darling.SF2004 said:
Someone check me.
AAPL primed for a short term (weekly expiration) short? Sell calls or buy puts?
5MIN and 60MIN charts look over extended.
Unless you're actively in a trade, ignore the 5. The 60min should be used for bounces and rejections after major moves. The BB on the 60min for AAPL is 174.4. However if it gets through 174, it has cleared a supply and is moving to the next demand at 176.60. Go ahead and short it and go against trend, but it is the same philosphy as tryign to catch a falling knife to try to short a stock as it is hitting highs. It has sizeable support all along the way.
Unless the market as a whole is in a downtrend, AAPL is the last stock in the market people should try to short
Haven't traded anything on AAPL but I study the charge due to the strength of the company. I think that makes the technicals more accurate.
I am long on AAPL in my DCA account(s) so I just follow it.