Friday, December 08, 2006

AAPL..Potential Setup to Buy

Here is a trade I am looking to do next week.. Above we have a daily 5 month chart of AAPL and in the lower panel we have an oscillator.. Notice AAPL has been in a strong uptrend making this a good stock to buy on pullbacks. Ever since this rally began, AAPL has been a buy every time the oscillator went BELOW the buy line followed by a daily close greater than it's open (white candle).. When that day's high is taken out you buy.. The small red line shows where the entry would have been. Well right now AAPL has that setup.. The oscillator is below the buy line and we have a close greater than the open today.. If on Monday we take out Friday's high, I will be a buyer as long as Friday's low has not been taken out..

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