Monday, June 17, 2013

Some Thoughts About Apple (AAPL)

Quick Thoughts on Apple (AAPL)

AAPL has been on its downtrend for quit sometime now. If you notice on the chart it had a very hard time getting to that 450 level, which it never had a green close above it and signed more downward pressure. Also if you look at the light blue line which represents the 50dma which sits at 434.95 and has come up and hit and sold off the pas 3 days now. I have not traded AAPL in a few days as the swings and pins have been eating up the options players. I am looking for a break below 428ish level to test the 420 level fast. I have a bearish bias towards AAPL until it gets above the 450 price then that might change. In short I will be looking at buying some puts for the 428ish crack which IMO will be the day it cracks way lower and test the 420 area. 

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