The chart above is a daily view of my dear friend Apollo ticker APOL, which I have been watching quite closely. The chart shows a beautiful Fibonacci retracement into 'the box', which is a retracement of 50-62% of the prior move.
Notice how APOL almost stopped dead in its tracks at that level. Even that wasn't enough to get your room temp IQ blogger/speculator to get off his duff and pull the trigger. I won't chase it but darn it if you can miss em' even when you're watching em' !!
The mid day market weakness has offered some much needed insulation to my short positions. So yet again and as cowardly as some may find this, I am raising some stops.
I am raising my stop on SRS to $49.78
I am raising my stop on SKF to $91.28
I am raising my stop on SDS to $73.78
I am lowering my stop on AAPL to $108.12
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Ultashort 20yr Treasury ticker TBT @ $44.25 stop @ $43.74
Long 2 units Ultrashort Real Estate ticker SRS @ $49.85 stop @ $49.78
Long 1 unit Ultrashort Financials ticker SKF @ $91.40 stop @ $91.28
Long 1 unit Ultrashort S&P500 ticker SDS @ $74.85 stop @ $73.78
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $19.20
Short 1 unit Apple ticker AAPL @ $107.30 stop @ $108.12