AAPL-So I longed this before earnings, got some gains (not as much as I was looking for), wanted to try to short it the morning after earnings, but it topped out premarket—actually afterhours the day before. Bought some puts today with the idea that this will close the gap in the next few days. Chart’s been screaming overbought since before earnings. My key point is 390…if it breaks above that intraday I may close out and try at a higher price. If it gaps up tomorrow, which is best case right now, then I’ll add at the open—even if its above 390. Target is 376 area…but I’ll start closing in the mid to low 380s. If it gaps down, then I’ll close half at the open and see where the rest goes. So far averaged in at 16.42.
EGHT-earnings was in-line. Numbers actually looked good. Guess folks were expecting a lot more. Looking at the charts, appears that 4.60 is the support area, though I think it could be in the 4.50s. Thoughts are that this goes sideways for a few more days, before the next big move. Though its touching the 20MA I’m going to guess, unless there’s some good news, this won’t bounce till it touches the 50MA…hopefully that means the 50 will move up to meet the stock in the 4.50 area and not the other way around. Will seriously reconsider position if it closes below 4.50.
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
EGHT-earnings was in-line. Numbers actually looked good. Guess folks were expecting a lot more. Looking at the charts, appears that 4.60 is the support area, though I think it could be in the 4.50s. Thoughts are that this goes sideways for a few more days, before the next big move. Though its touching the 20MA I’m going to guess, unless there’s some good news, this won’t bounce till it touches the 50MA…hopefully that means the 50 will move up to meet the stock in the 4.50 area and not the other way around. Will seriously reconsider position if it closes below 4.50.
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
