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Wednesday, September 26, 2012

$AAPL

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Just my .02:  Apple put in a spinning top today, gapping down and almost making a r/g move later in the day, finishing -8.36.  The last 5 times (4/24, 5/18, 6/28, 7/26, 9/11) it has led to higher prices and nice swing trade entries. During those times, Apple has had an avg RSI of 41.5.  Today it closed with an RSI reading of 46.1.  Based on this, I would say the downside here is limited.  For confirmation, I'd like to see it trade above 672.69 (todays high) and hold for a long side entry.  Of course, if it takes out today's lows, all bets are off...

Sunday, September 23, 2012

$GC_F

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Gold futures pulling back a bit tonight, bouncing off 10ma.  Remains in bull flag.  1749.5 (high 9/12) could be a nice pick up.

Thursday, September 13, 2012