Ramp & Camp
Thus far all I’m seeing is a ramp & camp day, so this could turn out to be interesting. I’ve said it before and I’ll say it again: None of the news sponsored emotional spikes matter – it’s the follow through we really care about. Under normal circumstances I would be all over a no-show session like today. But unfortunately the lack of context is dampening my appetite for picking a side, for now:
That doesn’t mean we can’t have a bit of fun, right? Let’s kick of our first setup of the new year via gold – beautiful 100-day SMA touch and although I think it’s looking bullish I am short until (or should I say when) it breaches that SMA. If that happens then I’m happily long with a stop below. A pop above the 25-day would be confirmation and I hope it’ll happen as this IMNSHO would be the more profitable direction.
AAPL painted a pretty lonely candle today but I’m granting myself a few lottery longs here with a stop below the 25-day SMA. Caveat – that one is still dropping thus I suggest discipline with your stop . Obviously AAPL has been very volatile as of late and if you follow me into the abyss then play it small and permit yourself a stop at least a bagel throw away.
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This entry was posted on Wednesday, January 2nd, 2013 at 1:42 pm. Both comments and pings are currently closed.