Tuesday, July 10, 2007

Apple Shows Relative Strength Today



Stocks were down today but AAPL was up 2 dollars showing relative strength. I bought some call options on AAPL last week as the stock broke out of its symmetrical triangle.

I'm raising my trailing stop to just below the gap to lock in a small profit at the very least.. My profit target for AAPL is 136 which is where I will sell my options.

1 comment:

Andrei said...

If you look at a longer term chart...you will see (if you havent already) that that price target is very very close to the top of a trendline. Maybe the end of a move? maybe it will break through... well see.

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