Bearish on AAPL
Apple has been on a down trend for the past four weeks making lower lows and lower highs since its all time high on 11/16/09. The trend should continue this week. If AAPL confirms a move below $194, I will enter a Short position (with a tentative stop at $195.70). However, if AAPL moves up, I will short at the first sign of a reversal between $196.49 and $197.80 (tentative stop will be $198.55).
Trade Target: Cover AAPL: $190. Or for a more ambitious trade, cover at $189 or a slightly longer term target at $186.50.
GOOG looks very strong, but I see an opportunity to bet against it.
GOOG has a very solid up trend that has persisted since the overall market rally began back in March. I look for GOOG to reach $600, at which time I will sell it short with a target to cover the position at $576.20. Stop Loss will be around $605.
The exact point that I enter these trades will depend on market conditions and technical indicators. I will post the exact price for these trades when I enter them.
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