Daniel.B
Long

Aggressive Buy at 200 Moving Average Support / Strong Vol.

NASDAQ:AAPL   Apple Inc
504 15 5
Well the reason for the trade is written on the chart. We have strong volume , with a very large bullish candle that has virtually no wicks, which shows me the willingness of bulls to catch the gap at support for another push to the 132/135 area.

Intra-Day chart:
snapshot

The Position:

The Trade:
  • Exiting at a loss on a D1 close below the 200 Moving Average (Essentially the loss will be the full premium payed for the options)
  • Exiting at profit upon reaching the 132/135 area.

Happy Trading traders! =)

Update: Trade was straddled last week, broke below break even and positive to the downside again. Good Luck
Long AUG1 15 124STK Puts
Its August already! Do you wanna call it short covering or aggressive buying? Ecpecting a mild bounce, then a close below 118 should be some blood bath.
Reply
Daniel.B traderswin
I was wrong on this one, it happens its all good I still live to trade another day. Actually didn't end up negative in this trade due to straddling the options. Came out in profit so its all good, did you enter short?
Reply
traderswin Daniel.B
Yes, on break of 119-118 and exited yesterday. Only small position, I eapect a bounce and will short again if it retests 117-118
Reply
I like your chart, but it is a week rally , look for down move , they do not respect the support ............. good luck
Reply
Daniel.B khaled5
Thanks for the comment Khaled, looks like a strong rally to me considering that "bullish" volume was way above the sell-side volume that caused the gap. Best of luck to you also man. =)
Reply
NASDboy PRO Daniel.B
Daniel is correct, they sold 8 million shares to bring her down to 118.xx, and next day's volume was over 100 million shares, it was an aggressive buying, not short covering, or shorting, but more like buying the dip.
+1 Reply
Daniel.B NASDboy
Exactly hehe =) Thanks for the comment!
Reply
NASDboy PRO Daniel.B
sure thing
Reply
traderswin NASDboy
Do you wanna call it short covering or aggressive buying? Ecpecting a mild bounce, then a close below 118 should be some blood bath. Not shoting yet!
Reply
You can look at it both ways, either it is a strong volume buy or sell, time will tell.
Reply
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