Well, I exited this trade at $33.41 when the market opened today. A loss of a little over 1%. In hindsight, I should have put in my trailing stop order when I was up 3% to lock in my profit. I was trying to be patient because I really believed the market was going to drop more than it did. The S&P is rising up to the 50 day SMA. If it can break through resistance, the market will have a much more positive outlook to me. I may enter another trade later on today. I will update my yield tomorrow, because it takes a day on Etrade to update.
I ended up buying Apple at $254.87 right before market close. I've had pretty good luck buying this stock around $250. I've never bought stock when the chart looks like this one does. It gap opened today 5% higher than yesterday's 4% gain. However it came back down to close only 1% higher. My thought is that the reason it came back down was because lots of people were selling to take their two day 10% profit. I'm banking on it going back up the next few days. We shall see.
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