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Technology Stocks : AAPL? How to trade/invest?

AAPL 246.26

-0.8%

10:03 AM EST

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To: guy leung who wrote (33)	4/19/1996 2:07:00 AM
From: Jaime H. Ayalde	of 162

Guy, But still a "must read" for the a trader's library. He lived like a king, had many wives and threw away millions. He lived large and as a reward he died a poor man. The swing of the pendulum. To reach that HIGH you have to be prepared for the LOW. He knew that it would ultimately happen. Like he said very early in life that in the business of "taking high risks" you will ultimately be taken in by "yourself". That is why the market can be an expensive place to learn about ones own fear and greed. He still made $$$much$$$ at times. I think it is worth studying how others have tried to master this craft. You have to understanding he was human. You take what is good and understand the bad. Take the good but do not wash him out with a simple <yeah but..........> I have personally based my technical system using his fundamental rules. They are general but are still very good guidelines. My favorite Master is still W.D. Gann. That is whom I have spent the most time studying. Which brings us to today Traders perspective not for the fundamentalist We are as close to the danger point in AAPL as it gets. For the trader you want to buy or sell as close to the reversal point as possible and as the previous notes I have stated that for 4/19/96 it is 24.625. Sellers are coming to the buyer at "his price". Because of todays increased trading range to 1.125, increased volatility lowers the floor to 24.500 for 4/20/96 Bernie you were right on running stops. (That is why I prefer Close Only) Very little volume traded below 24.625. 80% of the Volume occurred above the floor. In other words the buying and selling is occurring above 24.625 so the risk reward is to be Long. You understand that the concept of the floor and ceiling is relative and changes every day. For 4/20/96 the risk reward is on the long side. Until AAPL settles below 24.500. This is a low risk situation since tomorrows floor is 24.500. Good Trading Jaime

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