Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

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Jan 7 3:59 PM EST

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From: Trader J	4/17/2013 4:51:02 PM
	3 Recommendations of 56537

Update 4/17/13: Interesting day to say the least. Apple falls 5.50% to just over $400. I've been waiting for this day for some time now. Actually, though, I've been waiting for capitulation to take out the $400 handle and trade, on volume, quickly down to the mid/high $380s before recovering. Regardless, it's a HUGE value play at this point that can't go unrecognized. Apple is going to a hugely profitable trading issue shortly and I think we may be within two weeks of that occurring. This is one of those trades that if you get it correct, can make your entire year. I'm completely flat of all Apple trading positions, having closed out my last one a couple days ago for a small loss. VERY thankful I unloaded those $400 calls in the $80s ... they're now in the $40s. I think it's gone straight down since that sale. Overall, it was an ugly day. Still sitting in some Google $800 May Calls that aren't performing. Was thinking of going with a Ratio Bull Call spread yesterday and it would have been a great day to do it given the fall today. Instead, I've decided that I'll likely just be flat going into earnings and will take the lumps. It's down but it's not a huge position. I may just sell half and carry the other half into earnings if I'm feeling lucky. :) I'm really looking at AGQ for a Silver bounce. Pretty spectacular chart there and AGQ has been a great trader for me in the past. UA, one of my favorite long term stocks, continues to perform well. Today was just a good broad based decline day ... not many were spared. Cheers all. tJ

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