Saturday, April 14, 2012

$AAPL chart and setup for next week 4/16/2012

since earnings are the tuesday after next it will be unlikely i enter with a credit put spread until then unless there is some type of rapid selloff..either apple specific or general market selloff..if that happens this week i will be looking at these levels. there is a gap at 12march, the low after that gap is 575..will be watching to hold that, or if it drops thru that level, fills the gap i will watch for the 50 day moving average level near 556. if either of these levels hit and hold i would like to get a credit put spread using the low from 6march to shoot against..right about 520. this setup is only on a quick selloff othewise ill wait for earnings. setting initial alert for 590.  likely do a low premium trade for earnings...maybe a weekly/may call calender..will post when weeklies come on the board to see how much movement is being priced in.