Stock Market Today : May 21 - 25 - Page 7

aapl intraday double top here?

Difficult to say.

Never know exactly how long oversold bounces last.

Have to let it play out!

AAPL giving it another try.

 

Nice  ... 35.00 now.  Nice 60 tick move.

 

One up day maketh not a change in trend.

Edited by bullandbearmash - 5/21/12 at 2:41pm

 

A little Shakespeare in the park today? LOL

 

Oversold bounce good for everyone!

Longs get some relief and Shorts can get a better price to sell.

nates cheering for aapl to go down so he can buy the dip while i lose money on my call spread... i'll be pissed if nate doesn't go long aapl on a dip now..

 

aapl 553 as i type this...

Bob, my standard advice for someone who doesn't feel strong conviction and has lots of paper profits is to realize at least a slice of it, 40-60% perhaps. Put your stop 1-2 pts above BE on the rest and just sell it when you feel the momentum waning/dying. If you feel this happened in the last hour, it's probably time to close it all out. Thing is, this volume is fairly light, and each reversal attempt has been denied, so you could ride a trailing stop if you like the pattern. It sort of feels like they are trying to get some downside traction here, but price has been jammed back up a few times already... took a long lunch so I am still getting back into the groove. I think if financials weaken much more and JPM goes to lower lows, we might see notable profit taking.

I'll add one other thing, today's high is a tick above Friday day session high, another failed attempt to move higher and I'd probably close up shop.

 

Ahhhh ..... that ol' question.  

 

It's hard to say man, because we all have different strategies.  For myself, I have two things  .... I have my official target on the chart and then I also have my daily profit goal.  Every single day I'm looking to take 20-30 ticks from the market.  I commonly end up selling if I hit my daily goal, even if I haven't yet hit the official chart target of a stock I'm in.  This is why I mentioned I am trying to more effectively manage my trade if the market is trending in my favor.  

 

It's a personal "plateau" as a day trader that I'm trying to work thru.  I'm mostly focused on compound gains, but I really would like to stack a few of those bigger winners to give me some padding.  I have left far too many 100+ tick moves on the table.  I'm going to begin trying to get comfortable with scaling.  It's too hard to ride one position without locking something in.

Wow, trading at 9:30 p.m. is so strange, especially when I hear you guys talking about lunch, lol. This is definitely an oversold bounce and I'm not 100% convinced we rally to 1400 here or something, but momentum towards further rallies is definitely there.

I have a dynamic long target of 1313 and a POC fade target of 1306

with Friday's lower auction level at 1304. 

I'm currently positioned short near today's high at 09. 

That's a good position price. I cleared a long position up there and tried to position for a fade up near there as well but I'm feeling more inclined to close it out and roll it long. Maybe clear the long at the end of the session and fade it down during the low volume after hours. 

SPX and AAPL still trying to push through!

AAPL through 555!

SPX, still giving it a go!

Finally through, also!

 

I feel you on that long.

 

I have NQ and TF both buyer controlled at the moment and YM holding above POC at 441

with Friday's POC at 432. 

For me, next target on an upside move would be 1316.

hit some stops in ES right there. dynamic level up to 15.5 now. 

 

everything is my buyers auction except for YM (over 12460)

 

still short 

I am repeating what i posted hours earlier today

 

 

 

 

and