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
You can look at it both ways, either it is a strong volume buy or sell, time will tell.
Reply
Daniel.B traderswin
I don't understand what you mean... Maybe you can clarify?
Reply
traderswin Daniel.B
Well, if you set your candle color to Red when it dropped to 121 after ER, it will look like a strong sell not buy.
Reply
Daniel.B traderswin
It's red because of the gap not necessarily because of the days price action. Meaning it closed lower than Tuesday's close, but it was quickly bid at the lows and closed way above the open.

That's the reason I put on the bars instead of a candlestick chart, because many can get confused by that. If you put hollow candles the "red" candle will show up hollow, meaning it opened lower than the previous days close but it was quickly bid and the D1 close was higher than the day's opening price.

snapshot


Thanks for the comment's anyways, and good luck on your short, if you entered short. =)
Reply
traderswin Daniel.B
The quick bid is mostly day traders swing trading, Thats how I look at it. AAPL will not confirm either ways untill the hights or lows 118 being taken out.
Reply
Daniel.B traderswin
Well best of luck to you, its all probabilities and either of us can be wrong / right. =)
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
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
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