AAPL … Looks like a Year-End Ramp Job!

Today is the “triple witching” expiration date where index options and futures expire along with stock options.  Once we get this behind us, institutional managers are free to ramp their favorite stocks into year-end.

One of the stocks that I own call options on into Dec 29th expiry is AAPL …

AAPL – 195 Minute Chart #1

To me it looks like the third wave of a 3-wave price structure is about to officially break the ATR resistance level and “signal” the beginning of the final push into year-end.  $180 is my target … the market likes nice round numbers in part because of stock option strike prices.

AAPL – 195 Minute Chart #2

The Trend Strength histogram looks like it has completed the majority of its consolidation/pullback into the Chop Zone, and that should allow price to make its next push higher.

Price Momentum and the Moving Average Spread Indicators look like they are in a good position as well to get long AAPL into year-end.

Bottom Line – All that we need now is for Trump to not fuck up the last push into year-end!!

Cheers … Leaf_West

Constellation Brands – October 18, 2017 …

Constellation Brands (STZ) has broken last week’s inside candle to the upside and I am looking at putting on a small positional trade to see how far this move can take us.  Maybe we only push higher into this week’s OpEx expiry or maybe we are seeing the resumption of a nice trend following the consolidation pattern put in after the great earnings beat on October 5th (+14% above estimates) that could end up lasting several weeks.  Here are the charts … Continue reading

AMZN Update – September 12, 2017

I caught a nice little trade intra-day in AMZN during the last hour of the day today, and when I see the large cap momo names acting well into the close I will typically expect to see strength the following trading day … so I suspect the easier trades in AMZN, GOOGL, NFLX, AAPL and FB will be to the upside tomorrow (AAPL maybe not because of the iPhone X launch).

Anyways, I thought it would be worthwhile to update my read of the AMZN charts … Continue reading