Apple (AAPL) and Google (GOOG) Demonstrate Need for Short and Long-Term Trading Plan

Markets are still hanging tough, We had a late morning pull in that put a low of the day in around $140.01 on the SPY. SPY held above recent important support of $139.80. This upper floor remains intact. The market is still having trouble finding follow through above $140.92.

(click to enlarge)

Lots of stocks are still setting up well, my two favorites are on the move again today! Both names have been listed repeatedly in Off the Charts:

Google (GOOG) is rewarding investors the re-entered around $620 after a solid earnings report. Today there was even opportunity for intraday traders who came in flat and saw the relative strength around $651-652 during the morning market weakness. The next spot is the highs of the year around $670. I think that high will be taken out and it’s just a matter of time. Weekly/monthly charts look awesome. You can book some and trail some based on time frames.

Apple (AAPL) is also on the move rewarding macro investors/swing traders. The stock gave multiple prices to enter in the past few weeks. Stock also gave guys who came in flat armed with levels from our Price Point sheet to buy $623.50-624.50. The stock is at $629 right now and looks good. Highs of the year are not in, in my opinion, but you can book some and trail some based on time frame.

Both of these stocks, amongst many others, show you that you can approach the Equities markets on any time frame as long as you have a strategy and a plan.

Disclosure: Scott Redler is long AAPL, GOOG, GS. Short SPY, FB. Traded but flat SLV, AIG

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

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

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.