Apple, Inc. AAPL
Apple continued its pullback yesterday and bounced off of 623.55 (just above the 100DMA of 619.39), hitting a high of 640.49.
As you can see from the chart, that 100DMA has come into play quite a few times over the past six months. Those traders savvy enough to catch the dip into the 620’s could have been looking at some nice intraday profits.Thus far premarket, it looks like we may be seeing a gap-up this morning. It seems we were quite accurate in yesterday’s report: “Apple has been undergoing a selloff, and we want to observe carefully for a turnaround…..earnings are due later this month, and with this stock, there is always that tendency to run into earnings reports….”
We are currently monitoring October 20th $650 Calls. Yesterday they were as low as 5.10 before hitting a high of 9.40, and closing out the day at 7.70. You can see why we like to follow these intraday, as Tuesday could have been unbelievably profitable.
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Rapid Fire Marketing, Inc. RFMK
RFMK is another stock we’ve been watching for awhile that offered a opportunity on a dip to low of .0025, only to turn around and close strong at .0034 (HOD). The new support is at .0025, a level we need to ensure that the stock holds moving forward.
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Pacific Ethanol, Inc. PEIX &
BioFuel Energy Corp. BIOF
Both of these ethanol plays have shown us nice gains in the past, and these two tend to trend together, being in the same sector. We felt the time was right to reintroduce these two stocks, as it seems more gains like we’ve seen in the past could be in store presently.
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Extended Watchlist:
LGNT, BCAP, RSH, VRNG