How I was Wrong but Still Made Money Today

          "Plans are plans until they aren't. Don't confuse trading ideas with prophecy. You don't know the future. Unless you cause it." -Curtis Faith This morning I went in very biased about buying Apple long, my mind was clouded with the support level of the 50 week moving average holding up perfectly yesterday and in the pre-market. Looked … [Read more...]

$AAPL My Indicators & My Trading Plan

            Charts are my best mentors and moving averages are my best teachers. Entering into Monday Morning I am long Apple with an in the money $610 strike weekly call option but I am hedged with an out of the money $620 weekly put. Like me many traders see indecision with that doji candlestick laying right on the 100 day ema support line. … [Read more...]

The 200 day $AAPL Moving Average & When High Prices are Too High

          Here is a great article that appeared in Investor's Business Daily discussing the historical limits Apple can get above the 200 day moving average before a correction. Interesting reading but it may or may not help with your specific trading style, for information purposes only. CLICK ON YELLOW HIGHLIGHTS IN ARTICLE SO IT POPS OUT … [Read more...]

The Line in the Sand For Bulls

        The market is at a cross roads, we are either at the bottom of a bull market or the beginning of a bear market. The up trend is still technically in place but the bears are fighting to bring us into an official down trend. Below or five key price levels to watch, we either bounce or we will wrestle with maintaining these levels. If they are lost … [Read more...]

A Tale of Two Types of Stocks. Rockets & Anvils

          "Bear markets have no supports and bull markets have no resistance."  -William Eng Two big mistakes new traders make is  to short a monster stock at all time highs believing it has to go down or going long a stock in a death spiral because it just can't go any lower. Unfortunately for them stocks at all time highs are the ones that … [Read more...]