Rotten Start to AAPL
The market is opening with some losses this morning. My concerns are AAPL and DE. DE, while pulling back slightly remains within parameters and still looks poised to shoot to more new highs. AAPL on the other hand is pulling back more than slightly. The stock is digesting many analyst opinions from over the weekend. The approximately 2% drop leaves AAPL in a strong support zone. Frankly I did not expect this level to be re tested due to past volumes on support tests, but it is where AAPL lies. Fortunately the position is not a large one so I’ve lost about $1500 and have $1800 left in the trade. For now, I will let the stock play out and look for a reversal candle in this support zone.