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Despite the broader bearish picture with the AAPL chart, I still have to manage my short. Again, I normally reserve this type of play-by-play analysis of my trades for 12631 members, but since I have discussed this particular trade on iBC a bunch I am giving updates. I wrote a post yesterday where I noted that I locked in a nice gain on 1/2 of my short position. Today, I am moving my buy-cover stop-loss up to above $380.
Looking at a zoomed-out 30-minute chart, you can see that Apple is still in a downtrend. The bulls have their work cut out for them, but above $380 and I am willing to lock in the rest of my gains and revisit the short down the road. To learn more about 12631, click on the hyperlink for details about our service inside The PPT.
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Hey chess, really interesting following your trade on this one. Remind me again what price did you short it at?
$390 area.
following in the sense that I’m watching your analysis