Well, it looks like we printed that bullish reversal hammer bouncing off the 100DMA that EVERYONE was looking for and happen to call yesterday… And judging how positive the AAPL stream is on Stocktwits, it looks like we’ll be snorting eight balls off escorts before long now…
It never ceases to amaze me how EVERYONE on the stream bought in at the exact bottom of $623.55..; just like how everyone shorted AAPL at the high of $705.07 simply by drawing a few gay trend lines on the chart… Fuck me I’ve been buying stocks since Elton John was straight, and have yet to perfectly time any trade as of yet… I’m always too early or too fucking late.. But you fuckers… you guys should be flipping million dollar homes in Calgary, Alberta with that kind of genius!
Now hold your fucking horses for a second, I’m not much of a Technical Analysis guy but as a degenerate riverboat gambler not wanting to get surprise sex up my Doug Kass, shouldn’t there be confirmation of this trend reversal, such as taking out yesterday’s highs of $640.49 while not breaching yesterday’s lows before going all in??
The thing is, looking at the pre-market, AAPL is looking to gap UP and not wanting to sound like some vagrant bearshitter, what I am seeing in our way to heaven and more is former all-time highs as resistance; though I feel it will not pose much resistance as it wasn’t much support when we went through it. The major resistance will be at the $652.00 area, which incidentally is also the 38.2% Fibbonacci Retracement support from the July low AND coincides with the 50DMA (once major support).
Giving my respect to vagrant options guys who control the markets, cocaine highs aren’t gonna be that easy. Getting over that wall of OI Calls at the 650 strike is like bringing a Galaxy S3 to a gunfight… but what the fuck do I know? I’m just rolling dice here… still justifying why I bought too early AGAIN.
Good Luck in all your trades.
3 Responses to Welcome Aboard the Cocaine Express… AAPL
UPDATE: broke through yesterday’s highs… only thing left to confirm a trend reversal is not to breach yesterday’s lows…
Congrats to those who dipped into the abyss yesterday and came out geniuses!
Everyone can be a genius twice a day, just like a broken clock being correct twice a day for a second… the rest of the time, we are all living in our own dream; totally oblivious to the reality of the situation. Some say it is a blessing; I’ll only agree if your are not living in your own nightmare. If you don’t have nightmare, then, yeah!, ignorance is a bliss…
I reduced my position size on the AAPL call options to lock in some profit and let the rest ride.
My nightmares are only eased by the soothing knowledge I got in long much lower and every scalp or swing whether it be more longs common or calls or puts only brings my cost basis down…
And ignorance really is bliss; I swear my IQ is dropping like NFLX stock every time I log onto the $AAPL stream on Stocktwits…
BTW Good Job on your trades!