What I am doing with the apple I bought

Continuation of ,  Why I am buying apple on Monday

So far we have a successful price reversal at our anticipated inflection point and things are looking good (knock on wood).

As I mentioned in the previous post I bought 1/3ish size on friday aftermarket at 525.24 and I added up to a full position this morning picking up more in the 517s. My average cost now comes in about 520.50.

Because I am a daytrader at heart I do have a full ‘intraday’ size and I am looking to trade around a core swing position. For those who are simply looking to swing you can use todays low as your stop and continue to trail your stop if price continues higher.

For those interested in my intraday targets I am currently looking to peel this extra size off at about the 526.5  level and continue to trade around position and below 520 I would take off half my position. Note this is a bit more difficult when I do believe the market will continue to work against us for the next few days. All the while I do have a small SPXU position I picked up late on Friday.

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Evan Medeiros

Evan is the founder of the Trade Risk. With 25 years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

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