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edgararakelyan

Edgar's Stock Market Trading Log

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update, sorry I really need to begin updating you guys real time or else this is just worthless, but I ended up covering at like 429 and then I bought until 439 and did some petty successful trades and currently i am short at 449 and will cover oince I get a chance which should be soon, aapl doesn't have the juice it seems to take this bounce any further.

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w2yYKXV.jpg

 

as you can see, aapl gapped up and created what would be resistance for aapl at 460 on a volume of 34 million. Aapl touched the resistance with its bounce because of the catalyst (samsung's s4) and still only reached a volume of 20 million and then immediately retracted and then today it attempted to touch the resistance but on 13.6 million so obviously aapl doesn't have the juice to let it through.

 

So currently im short at 449.7 and plan to exit at about at most 437/40. Should be a good trade unless some stupid catalyst comes along.

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here this pic shows more proof of the lack of volume for aapl's upside

 

DO37I0f.jpg

 

Aapl rose to the andrewchannel's resistance on 800k and then dropped immediately on 1.5 million and subsequently 1.1 million.

 

so I see aapl dropping to its support at 437

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quick update, i'm still holding my short in aapl and fortunately I had the balls to hold out this bounce and see through it. Aapl retested its support at 450 at about 12 million volume which seems like it will be enough volume to break through until support at 437-40 which is where I plan to cover unless it breaks through on over 19 million volume.

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Current aapl suppport is at 385. Aapl hit that support with 100 million volume on weekly and then 21.7 million volume on the daily. This was enough volume to break through so expect for aapl to break through 385. Also more bearish analysis shows that the downtrend from the 700 high was reached but immediately fell back, here lemme show a pic.

 

JLnEyvH.jpg

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last friday I ended up shorting aapl at 412 with a stop at 415.5 and a limit at 408 mainly because it was 60/40 chance that my limit order would have been hit but instead I got stopped out and lost a small amount. Didn't worry much as it was a good opportunity because the resistance was so close so I just put a stop over the resistance and didn't risk much.

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I plan on shorting aapl tomorrow because it broke through the resistance on the 15 min chart on 800k volume which is clearly not enough, when that same resistance had been tested with 4 million volume and 3 mill volume and would not budge.

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