C long/short spotting - should we have a dedicated thread?

[Runner]

I think AAPL is a real nice short candidate right here. Look to go short @ 69.25 with stop 72.92. If gap down at open wait to see if it reverses to the upside. If gap open look to fade. Once trade moves in favor trail stop. Initial target for now is 62.90. I’m thinking AAPL may be in a larger correction and if this assumption is correct it very well may have more downside too it.
It could be in a 4 of 5 of first leg in the corrective wave. Now as you are aware the big question is IF. Take this info with a grain of salt, as shorting has been my weakness last year….

[spikefader]

I think AAPL is a real nice short candidate right here. Look to go short @ 69.25 with stop 72.92. If gap down at open wait to see if it reverses to the upside. If gap open look to fade. Once trade moves in favor trail stop. Initial target for now is 62.90. I’m thinking AAPL may be in a larger correction and if this assumption is correct it very well may have more downside too it.
It could be in a 4 of 5 of first leg in the corrective wave. Now as you are aware the big question is IF. Take this info with a grain of salt, as shorting has been my weakness last year….

Here's the weekly chart as I see it. Below 62.90 I'd switch to neutral.

[Runner]

Spike, nice pick up. I had not even looked at the weekly chart. It does look questionable here. Now off the daily notice the 20EMA had acted as nice resistance from the last bump. One thing is for certain it did pop the down trend channel. If it does drop it very well may retest lows? Spike do you feel the risk outweighs the reward on AAPL?

[spikefader]

Spike do you feel the risk outweighs the reward on AAPL?

Yeah for me personally I just can't help but wanna trade in the direction of the bias I hold. I guess this being the 'c' thread I wanna be lookin' fer 'c' longs and hold that bias until the pattern fails.

Right now AAPL has confirmed the 'c', and showed a nice gold entry at 64.00ish http://www.mrmarketishuge.com/showpo...&postcount=199

and it's acted pretty bullish since then; getting +10% (fantastic call on your part by the way dude; hugeness!) from the neckline break entry. So while that 64.00 entry holds now I would be green hoping it that any resistance merely gets taken out cuz we're into impulsives up now.... only time will tell if impulses will occur or the c pattern fails.

So the short answer is yes, I feel the risk of further impulses up outweighs looking for the reward of a 2 down move.

[Runner]

I think AAPL is a real nice short candidate right here. Look to go short @ 69.25 with stop 72.92. If gap down at open wait to see if it reverses to the upside. If gap open look to fade. Once trade moves in favor trail stop. Initial target for now is 62.90. I’m thinking AAPL may be in a larger correction and if this assumption is correct it very well may have more downside too it.
It could be in a 4 of 5 of first leg in the corrective wave. Now as you are aware the big question is IF. Take this info with a grain of salt, as shorting has been my weakness last year….

AAPL triggers @ 69.25

[Runner]

AAPL triggers @ 69.25

Well I can admit I was off in left field with AAPL. I thought it was going down.. hehehe I know one thing for sure it won’t be the last time I’m proven wrong for the world to see!!!

[alice4321us]

Still See Short?

Well I can admit I was off in left field with AAPL. I thought it was going down.. hehehe I know one thing for sure it won’t be the last time I’m proven wrong for the world to see!!!

Is it only me, I still see AAPL is a good short from here at 71.50 area with a stop around 73.15. Any thoughts from Pros??

[spikefader]

alice,

As far as the 'c' play goes, it's in its '3' up....so my bias remains long while the pattern holds.....but good luck if you take it anyway. Should it fall out of it's pattern, and get under 62.90 I'd be bearish.

[spikefader]

ICE was on the MM 'c' list too.....and worse, I actually watched this one in the 'c' and then didn't look for the entry.... Shoo; it even offered that 2% risk entry at 50.00 yesterday....

[spikefader]

HURC sets up.

Gap seems like it wants to hold. Pretty bullish candle there.......

[DSteckler]

Lots of short covering there.

[spikefader]

HURC: the pattern at the 'c' completion seems to be on the 3 min:

[alice4321us]

Vrsn

ESRX/VRSN looks to be a short candidate. Spike/Runner any charts, entry points you fellas can suggest.

[spikefader]

ESRX/VRSN looks to be a short candidate. Spike/Runner any charts, entry points you fellas can suggest.

I've done the chart from a 'c' perspective since this is the 'c' spotting thread you've posted in.

I'd be looking to short the top of 'b' (anticipation entry) if you are so sure it's a short and you're looking for the pink 'c' to fail.......or alternatively wait for the 'c' to fail, and look for your good r/r entry then. Or alternatively, you could wait for that big volume gap up recently to fail....and once that gap support fails, take the short with stop over the gap resistance.



On the 3 year daily chart I see there's that big descending triangle formation, that broke down last July and August. And now the 24.50 area is clear resistance. You could short the closing price today, but with stop over the recent high that makes the risk 5.66%. Target price for the triangle is 13.00 or so, which is 47% profit. So your r/r is 8.29, which is pretty good. Or alternatively, look to short into any strength tomorrow; perhaps R1 or R2, or on a failure down, and pull back up to the intraday pivot.

There's a few options for ya....but I'm not so sure I'd be looking short for it myself. At least while price is over the 23.12 gap support.

Good luck!

[Runner]

I think ORCL is positioning to make a move. It is a thick stock and so you won’t get 20% returns in 20 days but I’ll keep an eye on it.

ORCL is currently sitting near upper channel and may try to poke out and run…I’m Bull back to lower channel….