Thursday, April 20, 2006

Updates (last 2 days)

Market had a very strong rally on Tuesday and maintained its gain yesterday.

AAPL
My AAPL recovered some of its paper losses. Earnings results was announced after market closed. After hours summary from Briefing.com showed AAPL with a 4.4% rise in price. Hopefully, it performs as well when the market opens today. Jim Cramer "Mad Money" is bullish on AAPL (as of yesterday). My price target is still $73 and if it breaks convincingly, $75 (why $75? Don't ask me yet. I am still finding the answer. Anyway, I may just stick to the $73 target). My Bull Put credit spread on AAPL is already positive.

STOCKS UNDER MY RADAR (Reversal soon)
- RIMM (possible bullish play)
- CRDN (possible bearish play. Doji formed yesterday)

ON HINDSIGHT
Should have hang on to my bullish play on CEPH and place a stop-loss (though I made some profit b4 I closed this position). The technicals are still on my side and the set-up is still good when I let go. Fear overcame me. Lesson learnt.

BZH - I was right to have closed this position. The stock is like a yo-yo for the past 2 days. It may still go down though. Time to move on and play other stocks with better chart formation.

STX - I was right to close this PUT position. The stock was up, right till earnings announcement. Then it dropped. When I played STX, I played based on the charts, not knowing the earnings announcement is coming soon (should have checked earlier). Playing with earnings in mind create a new dimension to consider. I am right to play for the right reason.

- PersianCat04 (Milionaire-in-progress)

No comments: