@@Chart-Porn under $5!@@

[Bob-C]

Good morning lucasharp2008, great to hear from you. :)

Thanks very much for your nice comments and your request. :) =)

Please note all of my comments are not meant to be considered as trading or investing advice. My comments are meant for educational sharing.

Here is the AAPL daily chart:



Here is the AAPL daily TL chart:





AAPL has the potential to reach several higher target levels. Each of these target levels are currently acting as upper resistance levels for AAPL. AAPL may be turned back down at any of these resistance levels. The market is currently subject to violent whipsaws both on an intraday basis and on an inter-day basis. Traders must be nimble and committed to take their profit as fast as possible or lose it, e.g., take your money and run! Traders should take their profits on a day-trade basis and not wait to see how much more they can get on the following day.

My first potential higher AAPL target is the AAPL 10 SMA currently at 548.09. My second potential higher AAPL target is the AAPL S1 level currently at 560.54, and finally my third potential AAPL upside target is the AAPL 20 SMA currently at 577.10. First let's see if AAPL can tag and close over its 10 SMA. I am looking to take potential AAPL profits at the AAPL 10 SMA level or higher if Ibuy the AAPL calls. I closed my AAPL weekly puts on Friday with a 520% gain; I bought the AAPL weekly put at 9:36 AM and sold it at 9:47 AM. I also had good gains on my AAPL puts that I bought last Wednesday morning.


I have higher targets for the QQQs too.

Here is the QQQ daily chart:



Here is the QQQ daily TL chart:



The QQQs have the potential to reach several higher target levels. Each of these target levels are currently acting as upper resistance levels for the QQQs.

My first upside potential QQQ target is the QQQ 10 SMA currently at 63.50, my second higher potential QQQ target is the QQQ 20 SMA level currently at 64.55, and my third upside potential QQQ target is the QQQ Pivot-Point (P) level currently at 66.47. I am looking to take QQQ call profits at the QQQ SMA 10 level and AAPL call profits at the 10 SMA level too if I buy QQQ calls. I will consider buying the QQQ and/or AAPL calls in the morning on Monday if the risk-reward ratio looks favorable. Any achievable profit will be satisfactory to me.

Note, AAPL is currently up 9.15 and the QQQs are up .57 in pre-market trading. Caveat emptor about chasing fast-markets and fast-rising prices. After the current sharp rises in both AAPL, the QQQs, and the SPX and INDU etc. I expect a sharp reversal back to retest the recent lows that occurred last Friday. I don't intend to chase AAPL or the QQQs. If there is an ID pullback then I will again examine th risk for AAPL and/or QQQ calls. I am also wathcing for opportunities to buy puts on AAPL and the QQQs if the current rise gets to high too fast and negative divergences appear. AAPL has risen from Friday's ow of 505 to 937 in pre-market trading, a total of 32 points since last Friday's low. IMHO, don't consider trading any options without constantly monitoring the associated ID (intraday) charts inclding the 3, 5, 10, 30, and 60-minute ID charts.

See the following from candlesticker.com about the low reliability of the "bullish hammer" candlestick formatiion. I will watching to see if there will be any gap-fills of the morning AAPL, QQQ, INDU, and SPX gaps. Today could continue to be an upside trend day, time will tell.

Have a happy and profitable day.

Best,

Bob