Well, it looks like we printed that bullish reversal hammer bouncing off the 100DMA that EVERYONE was looking for and happen to call yesterday... And judging how positive the AAPL stream is on Stocktwits, it looks like we'll be snorting eight balls off escorts before long now...
It never ceases to amaze me how EVERYONE on the stream bought in at the exact bottom of $623.55..; just like how everyone shorted AAPL at the "top" at $705.07, simply by drawing a few gay trend lines on the chart... Fuck me, I've been buying stocks since Elton John was straight, and I have yet to perfectly time any trade as of yet... I'm always too early or too fucking late.. But you fuckers... you guys should be flipping million dollar homes in Calgary, Alberta with that kind of genius!
Now hold your fucking horses for a second, I'm not much of a Technical Analysis guy but as a degenerate riverboat gambler not wanting to get surprise sex up my Doug Kass, shouldn't there be confirmation of this trend reversal, such as taking out yesterday's highs of $640.49 while not breaching yesterday's lows before going all in??
The thing is, looking at the pre-market, AAPL is looking to gap UP and not wanting to sound like some vagrant bearshitter, what I am seeing blocking our way to heaven and more, is former all-time highs as resistance; though I feel it will not pose much resistance as it wasn't much support when we went through it. The major resistance will be at the $652.00 area, which incidentally is also the 38.2% Fibbonacci Retracement support from the July low AND coincides with the 50DMA (once major support).
Giving my respect to vagrant options guys who control the markets, cocaine highs aren't gonna be that easy. Getting over that wall of OI Calls at the 650 strike is like bringing a Galaxy S3 to a gunfight... but what the fuck do I know? I'm just rolling dice here... still justifying why I bought too early AGAIN.
Good Luck in all your trades.