Monday, January 7, 2008

Morning Trading Update

AAPL was sold for 181.06 at market open for a profit of $1.14/share from the purchase at 179.92 on Friday AH. I watched AAPL move as high as 183+ after my sale, but as mentioned earlier, I have no qualms with taking a smaller profit in the interest of risk management. AAPL proceeded to drop as low as $170.23 very shortly. FSLR also fell sharply as well - low of $230 after my premarket sale at $252.50. As expected the market gapped up, but the move was quickly faded.

I repurchased AAPL at 173.24 and sold at 174.45 (once again, "prematurely", as AAPL proceeded to move as high as 177+).

Keep an eye on the Yen, as it has been a fairly correlated indicator for market stability or instability. I don't expect the market to end the day with a major gain or loss today. See you later.

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