Thursday, September 6, 2012

10:31AM SPY + AAPL Technicals

Entry

Last half of SPXU @ 40.05

Portfolio

September Monthly 130 Puts @ 0.68 (Average cost)
SPXU @ 40.90 Average [(40.05+41.75)/2]


 SPY formed negative divergence on daily and 60min charts and at overbought levels (not extreme yet) on 60min. Viewing this as last push still, will adjust accordingly when time is right


AAPL

 Could play 675 to 680, but the risk is much higher than the short swing trade I executed on Tuesday and profited (675 to 670)  on Wednesday. At the moment, indicators are still showing a consolidation phase so it is best to stay away

-Red Apple