We woke up to a rather scary morning with big red everywhere. Knowing we only had positioned for the long side of the market at the Friday close. We were a bit worried but jumped into the market strong.
We grabbed AAPL right at open as it was near the psychological support near $100. It worked in favor for us as we were out of our position from friday in green within the first 30 mins of market opening.
Re-Entered long around $105-106 level.
We also added some put positions for $100 strike at the end of the day to hedge against the potential downside. We could see another leg down to fully test the $100 level but we'll have to see about that.
For now we're long AAPL, FB, MSFT, and IWM. Downside hedge on AAPL and QQQ.
AAPL premiums shot up like crazy today so if you want to join us long make sure you wait for some pull back before you jump in and make sure if you're playing options, get enough time for your expiration.
*NOT A FINANCIAL ADVICE, THIS IS JUST OUR PERSPECTIVE AND WE DO NOT RECOMMEND ANY TRADES WE PUBLISH ON OUR CHANNEL. YOU WILL LOSE MONEY.
hi there! think it''ll be going up after today ? or waiting for it to retest 100 levels?
there are those who would think the levels might shoot below 100 due to correction phase.
KoreanStreetBets
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@cher9al, If you've been following our ideas. We are continuing on our bullish stance on the market. It all depends on the dollar move. AAPL has dropped 25% from the top and as we all know price doesn't move in one straight direction. Even if AAPL decides to test $100 it should be choppy from this point on. We're trading through this correction and positioning ourselves well on both side to mitigate risk.
there are those who would think the levels might shoot below 100 due to correction phase.