Apple Inc. [[AAPL]] is and has been on the Costanza Watchlist. Assuming it doesn’t go below it’s intraday low of 120.68 earlier today, I’m looking to buy it on a breakout above 126—-today only, mind you. For the uninitiated, this is known as waiting for demand to come back into this stock, instead of rolling the dice on a hunch.
However, in keeping consistent with the way the market is working lately, this could all change tomorrow, just like Hank Paulson’s agenda.
For those of you position sizing (aka “being smart”), every 100 shares is a potential $600 loss using a $120 stop, so take that into account.
Happy trading, oh gunslinging cadre!
Disclaimer: Trading in this environment is for people who love to stand in a kiddie pool of gasoline and toss cookie sheets of dynamite into an Easy-Bake-Oven. You should be positioning sizing and limiting your risk, as always.
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