Monday, March 3, 2008

AAPL & GLD













(Click On Charts To Enlarge)






I made a stab at a retest of 123.05-123.54 support in AAPL. I didn't like the selloff to the low 122's after I bought, so I sold into the next rally which ended at 123.49, just below 123.54. That was the top of what "should have been" support. It became at least short-term resistance this morning. That's the number AAPL needs at the close for the Bullish Falling Wedge breakout to hold.






The GLD opened at the top trendline. I shorted it just above there and covered when GLD rallied off 96.80. Possible Bullish Falling Wedge that might lead to a retest of the morning highs, so I took the money.

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