Moving On

I started writing in the blog for myself. I didn't post anything for the public to view. I think it is time to move on from that and start using it less as a tool to vent and complain and more of a tool to study and plan. I will try and do my research and post up the ideas and thought I have on specific stocks. I am an options trader so I will mostly only look at the big names. The names that can more $5, $10, $15 in a day frequently. The names the most everyday not in the stock market people know. For right now, I am looking at $AAPL.

The Setup

I like the double bottom in the 380's It didn't quite hit the same low, but given where it has come from, I think it got close enough. The strong close on Friday 6/28/13 on above average volume makes me think we can play this one for a run up to at least resistance at 420ish.

Given that we are on a holiday week and volume is going to be low, I don't expect large moves but some low volume continuous drifting up as the big players are at the beach this week. If for some reason the resistance breaks, I would be selling more at about 427, the top edge of the descending trend line.

I will be watching others like $LNKD and possibly a quick trade on a $BBRY short if it doesn't bounce today.

CURRENT POSITION
$AAPL weekly $400 calls. Bought at 2.80. Break ever at $402.80. Target profit 17.20 a contract. 614% profit.