Hi,
Haven't updated in a few days. I had some personal matters to take care of and so didn't have a chance to look at the markets too much.
Apple's earnings is finally on deck. What an interesting past couple day it has been. We saw the street wised up and took some profits. It is now hovering near the low 160's. I've made my case on it...good luck to everyone.
Bought ISRG this morning on a fill order @ $272. Remember how I talked about it retracing all the way back towards 200DMA? PERFECT TRADE. Charts don't lie. It is now up to $283. I am hoping apple giving a good quarter and the stock market reacts nicely tomorrow it will go to $290. That is my target to releasing this trade. My stop is @ $280.
I am dumping my Garmin trade. The two week timeframe has come and I have to stay disciplined. I gave this a chance to run but looks like it didn't work out too well. Pretty much even on this trade...oh well. Try something another day :)
MOS taking a dump today bigtime. I'm glad I took a lot of profits. I'll just let that remaining 25% sit tight.
As for the overall market indices, I have to be honest and say my expectations for the market upswing is now very limited. Too many people getting bullish now. Put call ratio is getting skewed. And we have wall street media buffoons barking buy buy buy (Cramer LOL). I swear he is the perfect contrarian indicator. I've done so many trades opposite to his calls in the past and it has paid off handsomely. I think the market has seen the megapops in the near term. If anything we are now ready for retraces and some potential market selloffs. We've already seen one yesterday...could it be a taste of what's to come? We shall see.
I am starting to look for opportunities to stack short positions.
It's going to be an interesting after hour session today. For all the apple speculators out there, I wish you the best.
-DL
Disclosure:
Long AAPL, GOOG, ISRG, 25% MOS
Short X
Edit 1: Ambac (ABK) and MBIA (MBI) today is exactly the reminder we need that the credit crunch crisis is far from over. Deep condolences to long term holders suckered into investing in the companies from the media.
Edit 2 After the bell
Apple and Amazon both are selling off afterhours. Hold on to your hats people. And like I've constantly been saying throughout my posts. Playing earnings is not a wise thing to do. I hope none of you went "all in" going long on apple because of the euphoria created by the media. I own the stock going long but like how I've said before this is a long term play for me that's why I do nothing to it. But Godspeed to the speculators tomorrow. Watch for the $150 level, that is where the necktie support is. If it goes below $150, for speculators out there, I'd suggest you cut loss for the time being or hedge accordingly.
Subscribe to:
Post Comments (Atom)
3 comments:
Curious you think the market may come in, yet you bought in ISRG. $283 is a nice support level ytd. I don't see any more upside for ISRG short term.
GDP and fed meeting next week. GL to me, you, and everyone with long positions.
hahighbaby,
I am buying ISRG purely for a bounce play after getting overkilled in the short term. I have a stop at $280. My game plan is I'm hoping it might bounce hard tomorrow if Apple post earnings that pleases the street. But this trade will end by Friday no matter where it is. I assure you that.
Good luck!
You never posted a comprehensive retrospective analysis of your misread on APPL into and out of earnings. One thing I've noticed about technical analysts is that they rarely, if ever, dissect their misreads and give the reasons why stock XYZ did not follow the expected pattern. I'm not trying to be overtly negative, just asking for an after-the-fact analysis of a TA wrong call. I've never seen a tube talking head TA (eg, Carter Werth, Louise Y) retrospectively explain a misread either.
Post a Comment