Stock, Option and Futures Trading
AAPL and LVS were stopped today as they correct into the bigger pattern. We said AAPL could make a move to $385 but at the time of entry the odds were higher. The overall markets were very close to breaking out but fell shy about 20 DOW points.
Even though AAPL and LVS were stopped right here is not a area to reverse and go short. The DOW is still above 11,600 and AAPL and LVS are sitting at a bigger buy zone.
For now we will stay flat with AAPL and LVS and see which way the DOW goes as it gets out of the 11,600 12,200 range. If we wait for more confirmation we can easily get back the loss on AAPL and LVS. The market was a tricky breakout point and even though it did not break out it has also not failed the breakout meaning; these stocks are just pulling back into a bigger buy zone. We would still have to call it a buy zone for now unless we take out the 10,600 on the DOW.
The ScalpingTheMarkets site is down this morning. Scott is trying to fix the problem right now. There is a Webinar today and if you did not sign up already but would like to email him at firstname.lastname@example.org and he will send the sign up link.