Friday, July 07, 2006

Trade of the Day - Apple Computer Inc. NASDAQ: AAPL

Decided not to trade the open because of the long upper shadows which formed on both AAPL and the Qs shortly after the release of the jobs data would have resulted a very wide stops. Once AAPL had recaptured $55.00, I felt it was safe to enter a long position. I could have shorted the trendline break in the afternoon, but I missed the initial break and decided not to chase it. My only other trade was a short of AMD after the initial gap fill, but that trade went basically nowhere (scratch).

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