Tuesday, January 8, 2008

ADJUST: AAPL Jan 180 to Jan 170


At 3:58pm, I got filled to adjust my position by buying back my Jan 180 for $4.43 and selling the Jan 170 for $8.68. This gives me a total credit of $4.25 ($1,257.30 w/ commissions).

Looking at the lower channel line in white, I see that AAPL used this as a support and tested the line and shot back up today on high volume in my direction. Also, the ATR (is

This reduces my cost basis again from $ 52.60 to $48.35.

My new stop loss is set to $38.68 ($12,049.80 w/ commissions).

If not called out:
4.25/48.35=8.8%