LULU
If you took the LULU trade you got stopped out when the stop got taken out.
AVP
AVP stop held in and is still in play. AVP is trying to break the most recent high and if it gets taken out we could see the $24 area.
Monday, August 29, 2011
Friday, August 26, 2011
LULU Second Move Down
Looks like we are getting our second move down on LULU. I have been bearish on LULU and think they still have a long way to go down. You can read my write up, Lululemon look out below. What I don't like about this setup is you might run into the 200ma which may become a support so if it can't break that moving average, take the position off. You could use $53.52 as your stop if you want to try a short. I think I would take some off if I could get 2X my risk and as usual I will trail with a breakeven stop once I'm up $3 on this stock.
LULU was once a high flyer on wall street and any time the market realizes that growth will slow down the stock is usually severely punished. I think that same thing will happen to LULU.
LULU was once a high flyer on wall street and any time the market realizes that growth will slow down the stock is usually severely punished. I think that same thing will happen to LULU.
Thursday, August 25, 2011
Apple Profits Booked
The Apple trade worked perfectly as expected. I felt the selling was over done and if you followed our plan you would have made money. Apple opened alittle above the area we wanted ideally but you could have entered on the breakout in the $360 area. You had to enter in premarket trading in order to get in. Here is Apple premarket:
Apple traded as high as $375 way past our minimum target.
I don't think we'll get a trade in Apple like this again for a long time. This is one of those rare instances where the market was completely over reacting and astute traders could take advantage of it.
Apple traded as high as $375 way past our minimum target.
I don't think we'll get a trade in Apple like this again for a long time. This is one of those rare instances where the market was completely over reacting and astute traders could take advantage of it.
Wednesday, August 24, 2011
Apple sell off on Steve Jobs news, great buying opportunity
Apple sold off as much as 7% in after hours trading on news that Steve Jobs is stepping down as CEO. It appears the fears may be a bit over done and I think you could take advantage of a gap down into support on Apple. I will look to buy one lot of Apple on a gap down in the $355 down to the 350 area. I would buy two lots of Apple at the 200ma which is around $343. I will also look to add on a buy setup if I get a good buy pattern. I will use the $339 area as my stop so be sure to position size correctly to your risk. I would like to see support first before buying if we gap below $350. This trade is also invalid if it trades below $339 before we are able to buy. I marked support and buy areas with green arrows.
If we get a buy from the $350 area, I would like to target the $360-365 area. Be sure to properly trail the position and move stop to breakeven once your 3-4 points in the money.
If we get a buy from the $350 area, I would like to target the $360-365 area. Be sure to properly trail the position and move stop to breakeven once your 3-4 points in the money.
AVP near 20ma target
Our AVP trade is doing well heading towards our 20ma target. If you used a tight stop under $21, you would have gotten dinked out on the failure to hold above the 8ma. If you used the $20 stop, which is the low of the pivot, you should still be in. AVP came close to breaking the low but it held in.
The 20ma should be a good first target but I think there is more room to run if it could break above it. I'm not gonna give AVP to much room because of the volatility in the market. I would take at least a third of the position off on a test of the 20ma and move the stop on the rest of the position to breakeven.
I will also move the current stop to 20.47 to tighten up the risk. I marked the stop loss area with a red arrow in the chart.
The 20ma should be a good first target but I think there is more room to run if it could break above it. I'm not gonna give AVP to much room because of the volatility in the market. I would take at least a third of the position off on a test of the 20ma and move the stop on the rest of the position to breakeven.
I will also move the current stop to 20.47 to tighten up the risk. I marked the stop loss area with a red arrow in the chart.
Monday, August 22, 2011
What a killer Goldman Short
Too bad my followers did get a chance to participate in this sell off.
It dropped 6 points right after I submitted my writeup to Seeking Alpha. I finished my article at 3:14pm.
I didn't expect this big a selloff but when you position yourself correctly, sometimes you get rewarded.
I didn't expect this big a selloff but when you position yourself correctly, sometimes you get rewarded.
Monday, August 15, 2011
AVP nice daytrade with a tight stop
AVP is a buy at this price at $21.78. After chopping around for several days AVP finally made a strong move that it is ready to try a relief rally. I'm looking for AVP to get back to it's daily 20MA around the $24 area over the next few days. If you want an aggressive stop you may place it below the $21 area or if you want to give yourself alittle more room you may place it below $20.
I
I marked the entry with a green arrow and possible stop areas with the red arrows. You can learn more about my strategies in the swing trade lessons section.
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