Wednesday, April 29, 2009

Trade Call- APPLE SHORT

My nemesis stock APPLE. By the record I have with this stock it should be a loser but I am trying once again because I HATE to lose.
Shorting this one tomorrow morning @$125

$115 Puts look ok but I am shorting the stock here.


MARKETJEDI

Warning

I have been saying this market will not just die here. I have noted this to a couple of people numerous times but they are too bearish. Although I am bearish longer term we are in a corrective pattern here and as said before we could goto 900-1040 area but as off now I am just playing it using time and this uptrend should plateau off in July.
Said it over the weekend on the blog the short will fuel the next upside for being too stubborn

Higher we GO

Higher we go into the FED meeting. 874.50 wow this is stiff resistance and it would be the death of the bears if they close above it

GDP DOWN

GDP DOWN 6.1% for first quarter

FED DAY

Today is FED day so expect little volume till after the announcement. Most traders usually take the day off and I might do the same.
Not much the FED can do but it is important about what they say about where we are in the economy especially with credit.