Watching to see if the pattern of AAPL repeats itself from 2008. This year we have been on a roller coaster of volatility, smashing through 5 years of the 2008 Crash Recovery pattern price action in 8 months.
This follows EWF (Elliott Wave Forecast), that we will be moving to higher highs before turning down to fill the gap.
Active Trade: AAPL 140c 12/18 @ $1.15 - $1.26 Exit: Ideally before earnings on 10/29.
This is not financial advice, just an idea.
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If the bottom is set at $114.28, then (1)-(2) up from the 9/21 lows measures 138.50 to 153.47 for wave (3) in AAPL.
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Historically, the low hits on the last Monday in October before elections. Right on track for AAPL.
If it does repeat it would reach 135 $ after the ER and even after the Election.
thebrewer35
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@MangoKhan, I am looking to exit at 132 before earnings unless there are no sell indicators. On election day if you zoom in, the candlestick drops to $130 before turning higher.
UnknownUnicorn12300131
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@thebrewer35, but why exit if it is going up over 150 $ ?
thebrewer35
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@MangoKhan, theta decay on options. As time passes and it corrects a little or goes sideways it is better to sell and buy back because it eats away at the premium. I also prefer to lock in profits, and re-enter on those dips. If I miss them and it keeps running that's okay too. I just find another stock to buy.