For some reason just got dialed into AAPL friday morning in semi dip-buy mode , and caught it twice early on in the am ....you guessed it right off two quick dips to---> $71.25 !
The 1rst trade was brief for only 50c or so , the second trade lasted longer as AAPL managed a move all the way back up to $72.75 , which given the tenor of the day was excuse for some happy celebrations on my part , not expecting a full $1.50 on the trade .<g>
But what was nice in the second trade which quickly followed the second tank was my buy order was already in place as AAPL started back down early on . Got filled and reversed almost as quick right at that same spot , $71.25. ( i love those )
GOOG was almost as obliging in respecting the Nov low of $377 area which all traders seemed to key off of , that low coming into play after the breach earlier of $387 and swoon down to $373 after the WSJ article in the am and the follow on note out from Bear Sterns they were releasing GOOG from their focus list . And though I do love the boyz at BEST , they do have their foul-ups , being the guys that upped JBLU a week or two before EPS . GOOG also spent the day respecting a $384/$385's top area which was almost an automatic short twice during the day.
My last trade on GOOG was off that 3rd test $378 area which found it rising with a little short covering into the eod (surprised me a bit too ! ) all the way back to $383 close . GOOG usually signals clearly its S&R channels by double tests both top and bottoms , once its trading stabilizes in the day .
Really is a dream stock to trade .
With any of these now , the slightest winds could knock them over more , should the markets in general begin to find more & more to worry over . But GOOG & AAPL both did show some resilience at these levels.
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