JoelAdams00
Long

AAPL vs SPY correlation

BATS:SPY   SPDR S&P 500
AAPL             and the SPY             are always very highly correlated and AAPL             has high institutional holdings which tends to make it a leader of the SPY             .

Around the beginning of August there was a divergence in AAPL             vs SPY             and this led to the SPY             following it downward.I think we are experiencing this again.

The trade would be long SPY             short AAPL             in a relationship to make your risk equal on both sides.

Overall I'm still bearish on SPY             but It has many upwards gaps to fill and in 2008, 2011 it did not set new lows after the first drop with any gaps unfilled.

I'm still new to trading spreads but I think this should work out.
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