The Impending Move In Apple (Part 3)
Contributor Since 2012
It’s been 4 years since I started this blog back in December of 2012…though I did not actively post this year, my plan for 2017 is to adopt a slightly more hands-on role…we shall see…
For those new here, a quick background…I started Options2Wealth as a 6 month experiment in equity options trading with a seed capital of $10,000…my trades were 100% transparent: I would first announce my trade(s) here before placing them…once my intention was time-stamped on this blog, I would then place the actual trade and post a screenshot of its execution as proof…
How well did I do? Well, if you really want to know, you will need to go through the first 56 posts, all saved here for posterity by the wonderful internet…every single trade, buy or sell, and the reason(s) behind the trade along with supporting charts, etc…it was one heck of a ride… :) A few of the blog’s readers piggy-backed on my trades and did pretty well for themselves, later sharing their individual testimonials, in the comments section, with everyone here … ;)Last year, on a lark, my wife and I started a new company in the high-end consumer space…our company, iBBQ, sells a line of very unique, hand-crafted barbecue tables called the Angara…our tables are built by us at a facility in Michigan…recently, the Robb Report, the Bible of luxury living, dubbed it the "Ultimate in Outdoor Entertaining.” … check us out at http://www.ibbq.com ...and should you be interested in bringing the world's most stunning and versatile outdoor dining table to your backyard, contact me here and I may be able to make you an offer too difficult to turn down... :)
karim pirani
December 27, 2016
Technically, Apple's chart is looking real good...
On the PnF chart, thanks to Syria, Apple not only switched back into Os, it printed 5 Os...The best analogy I can give is the spin cycle in the clothes dryer...If you know what I mean...By pulling back, AAPL was able to squeeze out a lot of the froth that was built into the stock. I was hoping for a 4-box reversal and the stock Gods rewarded us with a 5-box reversal and with the potential for another box or two...LOL! As you can see from this screen shot, this is one beautiful looking chart...It is setting up for a strong up move...
And then on the Candlestick chart, AAPL's 50 day sma is less than $15 away from colliding with its 200 day sma and light up the spark that will cause ignition...The two lines should intersect within the next 8-10 trading sessions...and the RSI has also come down from nosebleed territory...
No need to panic...but rejoice, yes!
:-)
kp
DISCLAIMER: All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is definitely not for the faint of heart as one's portfolio can move up, or down, anywhere between 10%-30% during a single trading day. Feel free to follow my progress here, but PLEASE do not follow my moves. However, if, in spite of all my exhortations, should you decide to do so, be advised that you, and ONLY YOU will be responsible for any losses that you may suffer...In other words, the onus is strictly on you. On the other hand, if the move(s) result in a profit for you, I am open to discussing a split. ;-)