Market Rests, Apple (AAPL) Makes New Highs

Pretty quiet day in the indices as expected, you can’t expect huge days like yesterday all the time. Some stocks are on the move though.

I gave a tier system lesson in Apple (AAPL) on Twitter, on how to tier in and out. Also the buy price for today was on the Price Point Sheet. I went long yesterday, the next buy pivot was yesterday’s high of $607.90 and then an additional buy at the old high of $609.65. Then as it goes up you scale out. I did scale out too early (was done around $612.50) but the strategy worked.

Lots of stock from last week continue. It is hard to get involved with these now at these levels, but this is why we like pivot point.

Baidu (BIDU) $140 to $153

Amazon (AMZN) $186-187 to $206.27

Google (GOOG) $620 to $650

Netflix (NFLX) $111 to $123

LinkedIn (LNKD) $97 to $104+

Sohu (SOHU) woke up yesterday and is having some follow through today.

Sina (SINA), which has been weak, also got some attention.

Ren-Ren (RENN) is a laggard in the group might play some catch up as well.

Banks are taking a the day off as they deserve a well earned break.

Casinos still take turns.

Retail is hanging around.

Rare earth stocks like Molycorp (MCP) are on the move today. I missed them. Marc Sperling was all over them.

Inverse 20+ Year Bond ETF (TBT) doesn’t act right, my stop is $20.06.

Not much else to do as I try and pare down some risk going into the Quarter’s end, but it seems like every sale has been early.

Disclosure: Scott Redler is long LNKD, LVS, CZR, DNKN, BAC, F, INTC, MSFT. Short SPY, QQQ.

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About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

Visit: T3Live

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