EDGE TRADER

Monday, February 13, 2006

Is today the day?

I think not. I have been watching AAPL like a hawk waiting for the day it makes its run out of the basement. After the strength near the close on Friday (I closed profitable momentum trade that afternoon) - I thought we might run up today.

But my caution appears to be the right move; it's rolled back down to the low 65's. Fading the open is a play that would have worked in AAPL 5 out of the past 6 days, which is food for thought for tomorrow.

But the gyrations are a little scary for me - the most likely outcome is just handing the market maker your predetermined stop loss (whether you are long or short) thanks to the severe intraday volatility. I like my money too much to hand it over like that, so I will only open trades in that stock under the best of circumstances (Friday was just too easy to resist).

2 Comments:

At 3:17 AM, Anonymous elliott wave said...

Very interesting blog.

Regards,
Emini Futures Day Trader
elliott wave

 
At 12:09 PM, Anonymous Rick J said...

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