AAPL - Bottom Reversal Long Signal

[Sakk]

Let's see how this trade pan's out.

Buy stop 172.40 limit 173.2 islp 164.76

I predominantly trade reversal signals combined with volume.
As I type this I just got filled at 172.46

That's the easy part done! Managing the trade is were it all counts.

 

[Wysiwyg]

Let's see how this trade pan's out.

Buy stop 172.40 limit 173.2 islp 164.76

I predominantly trade reversal signals combined with volume.
As I type this I just got filled at 172.46

That's the easy part done! Managing the trade is were it all counts.

What drove the price down and does the reason still exist???

from the 13th./6

United States - NEW YORK (Reuters) - Shares of Apple Inc fell for the third day in a row, possibly reflecting shareholder concerns about the shift in its iPhone strategy, although analysts continue to think the company will thrive.

.

 

[Wysiwyg]

Looks like green apples for now sakk.Well done.Hope to see a winner unfold for you.




.

 

[wayneL]

You didn't tell us your exit conditions (apart fromthe initial stop).

Is is a swing trade? Trend?

 

[MRC & Co]

Sakk, I actually trade the same set-up, with the increasing volume and hammer (and shooting star in the other direction) on occassion when I see it come up. I also like to see the long tail close a previous gap. Generally, only for a quick swing. Always on the daily.

 

[Sakk]

What drove the price down and does the reason still exist???

from the 13th./6






.

No idea. I don't follow fundamentals. I only ever look out for up coming earnings and avoid the signal if it's within 10 days.

 

[Sakk]

You didn't tell us your exit conditions (apart fromthe initial stop).

Is is a swing trade? Trend?

I don't use price targets or fixed exit targets based on a percentage gain or R Multiple. Obviously I aim for at least a risk reward of 2:1 and greater but i don't exit if price reaches a predetermined price point.

I can't predict how far price will move and in what direction and for how long. I can only manage the trade well and exit once price shows signs of a possible reversal. All my trades are trend trades however many look like the typical swing trade after the fact.

Exit conditions: Move to b/e or exit after three bars. If at b/e then trail stop on price action. If price shows signs of stalling or reversing tighten trailing stop to few points below most recent lows. Loosen trail as price goes beyond 3R and implement Weinstein trailing stop.

 

[wayneL]

What's a "Weinstein" trailing stop?

 

[Sakk]

Looks like green apples for now sakk.Well done.Hope to see a winner unfold for you.




.

I prefer the Red variety, but in this case I'll be happy to change to green ones

 

[Sakk]

What's a "Weinstein" trailing stop?

Stan Weinstein is the author of Profiting in Bull and Bear Markets.

He trails a stop at the previous swing low when a new swing high is made.

I've just called it the Weinstein trailing exit ever since I read the book in 2000.

 

[wayneL]

Stan Weinstein is the author of Profiting in Bull and Bear Markets.

He trails a stop at the previous swing low when a new swing high is made.

I've just called it the Weinstein trailing exit ever since I read the book in 2000.

OK gotcha.

Will follow with interest... AAPL is one that I swing, though did not take that particular signal.

 

[Sakk]

Moved islp to b/e @ 172.46

Exit conditions: Move to b/e or exit after three bars.

Forgot to add that if price moves +1.2ATR from entry move to b/e thus the move to b/e one day prior to the 3 bar rule.

 

[Sakk]

stopped out at 172.40

-0.01R Loss

....next

 

[Edwood]

looking like Nasdaq all over again....

 

[Edwood]

top must be very near now if not in already for AAPL even with IP3 due out imminently. With overall sentiment and bullishness at extremes it will be hard for the big boys to resist kicking the legs out

 

[Edwood]

lol Dow would be approx 15,000 now had AAPL been included instead of CSCO

http://www.networkworld.com/community/blog/if-ridiculous-dow-had-chosen-apple-instead-cisco

 

[Edwood]

someone more cleverer than me has done an NDX-AAPL overlay.
Maybe this time it will be different

 

[Edwood]

top must be very near now if not in already for AAPL even with IP3 due out imminently. With overall sentiment and bullishness at extremes it will be hard for the big boys to resist kicking the legs out

top came a month later - bollies suggest 390 area could be doable if it gets some momentum going.
Insiders selling more of their Facebook holdings than expected & at the 11th hour won't do much for tech sentiment