AAPL Stock Drops | Trading Game Plan August 12

The stock market can be a tough way to make a living. Day trading requires patience, especially during August.

The recent mornings have started a little slow but there is money to be made if you don’t over-trade the open. I know many traders who took August off and are regretting it. Average true range has increased in many stocks resulting in some sweet intra day trends.

Be patient. As long as you have a strategy, and let everything else go, you should be in good shape.

AAPL Stock Drops over 5% on close to 100 millions shares traded. This shows selling by the big money.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

AAPL Stock Drops

Day Trading Game Plan: The SPY ETF Chart

SPY forming a pennant on the daily chart. A wider trading range slowly consolidating into a tighter range. A trading range within a larger trading range. Zero edge here.

(click the chart for a full view)

AAPL Stock Drops

Stocks to Trade | Wednesday August 12, 2015

Pete’s Notes:

  • A lot of recent news about oil inventories increasing. I see those stocks holding the bid the last few days.
  • Getting some better trade set ups in the afternoon. Be patient during the morning.
  • TWTR swing trade sell-short is a dangerous trade. Yes the trend is down but it is a better day trade (sell-short) right now.

Charts in Focus

Apple Inc. AAPL

AAPL Chart: It would be too easy to say the price of AAPL stock dropped because it couldn’t hold resistance, but the truth is China was a much bigger reason. But the real question is does it matter? With close to 100 million shares traded yesterday there is institutional selling. Be disciplined with your stops if you are long. The average true range has picked up nicely here, plenty of trading opportunity.

(click the chart for a full view)

AAPL Stock Drops

Earnings in play today > 1M avg shares:  armk, baba, csco, m, rcpt, sina, xhr

Bullish Ideas ATR/Volume/Price: NFLX, GOOG, GOOGL, HFC, AMZN, CTSH, UA, TEVA, TSO, VLO, ACN, HD>118, NKE, MA, EA, PSX

Bearish Ideas ATR/Volume/Price: qrvo, yelp, tasr, gmcr, myl, jd, bidu, sina, utx, cern, grub, aapl, cvx, etp, ibm, hot, cat, nsc, baba, mmm, unp, car

Weak Stock Weak Close: aapl, baba, bidu, car, cf, csiq, csx, gmcr, grub, hpq, jd, joy, ntap, rax, scty, sina, symc, tgna, wynn

Strong Stock Weak Close: GOOGL, GOOG, JNPR, GT, ACN

Weak Stock Strong Close: cog, cop, eog, isis, nbl, oke, rrc, twtr

Strong Stock Strong Close: NFLX, HFC, MAS, TSO, DAL, JBLU, VLO, DHI, PSX

20 day Breakdown: ttm, scty, cf, cien, pot, yum, rax, csx, symc, tsm, baba, jd

20 Day Breakout: BEE, HFC, TEX, WEC


Watch List Longs: MO, VLO, BK, TJX, MCD, DAL, JNPR, ADBE,

Watch List Short: cop, bmy, cof, bby, all, xom, adm

Inside days: nvda, hcp, pg, apa, bp, slb, clr, nbl, mat, apc, stx, holx, dfs, kim, joy, tmus, uri, mur, nue, bhi, cam, hog, hes, atw, ir, mon, azn, kss, tasr

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AAPL Stock Drops | Trading Game Plan August 12

Why the Apple Stock Price Drop Is Misleading (AAPL)

Don’t let the recent Apple stock price drop scare you.

While concerns about iPhone sales are always valid – Apple Inc. (Nasdaq: AAPL) does draw the majority of its profits and revenue from its iconic smartphone – the bite out of AAPL stock since the company’s Q3 earnings is overblown.

The latest AAPL stock price drop started when the Cupertino, Calif.-based company reported iPhone sales of 47.5 million in the June quarter. That missed Wall Street expectations for 48.8 million (the whisper number was even higher, at 50 million).

The next day, Apple stock fell 4.22% to $124.66 for the session. Over the following days concerns deepened, taking the AAPL stock price down further.

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