Wednesday, April 16, 2008

AAPL... you're so predictable

Well, to follow up on my previous AAPL post, we did indeed find support at the 20 day SMA and rocketed back bullish with a hammer and today's gap.  The following chart is from roughly 11:30 on Wednesday.
The shooting star we ignored -- so for the sake of our position I was thrilled to see yesterday's hammer (which is the reverse of a shooting star.)  With the gap this morning we cut our loss in half already.  The last bit of resistance to get through is that 200 day SMA (the top line).  Keeping fighting bulls!

Hey, it's about time for a post from JW :-)

-josh

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