Sunday, May 6, 2012

6th May 2012 – Falling A…APpLe!

Buy $

Sell $

Short $

Cover $

Stop Loss $

Profit / Losses

Duration

 

585.00

 

 

599.00

 

 

 

temp Reason for Buy / Sell / Short / Cover:

 

  1. After covered from short from previous two days, the price can hardly get up above the 50MA line in intraday chart.
  1. Price has gone down since it last reported its quarter announcement.
  1. More and more counters in my entire watch list are showing downturn.
  2. Price has breached the daily 50MA line.
  3. All secondary indicators in the daily chart are pointing downward.

 

Lesson Learnt:

 

  1. I actually shorted it at a much better price last week, but market came out with some good data in the next two days and market started to rally. AAPL share started to rally back and I decided to cover and watch from sideline.
  2. Actually the correct way is to set the stop loss somewhere above the 20MA line.
  1. Don't get panic again this time.

 

Intraday Chart

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Historical Chart

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