Wednesday, July 9, 2008

KM: 7/9/08 Full Disclosure

Position: AAPL call
Closing Price: 174.25

Target: 205
Stop: 176-177 range (if the next pullback cannot penetrate above this area, i'm out)
Price Pattern: pivot point breakout

Pro's: strongest big tech name, sellers only present at end of day when all was dropping
Cons: tech was extremely weak today, it broke clear support at 177, when toppling late, it fell hard, QQQQ failed to keep gains from yesterday and is in neutral bear territory in the 30 min chart now too.

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