|Red line indicating entry, I front ran because heavy selling|
Thursday, April 4, 2013
Today was a quick day for me, I had a few short plays I was keeping my eye on off the bad weekly jobless claims. I particularly was keeping a close eye on $AAPL to break through its support at around 430.30. As you can see on the chart there was initial buying at the open, then it began to pretty much free fall, which is what lead to my conviction in entering this trade early, "front running". I entered early I would say around the 432 range as it continued to free fall. took my profits and got out. It is pretty much inevitable to leave money on the table in these type of situations, $AAPL volatility can lead you to question the follow through in a move so I removed my self 428-429 range. Nonfarm payroll is released tomorrow, the price action should be interesting, Im personally bearish.