Bought Apple (Nasdaq: AAPL) At The Open Yesterday For $428.47 Per Share: Here's Why

Our first swing trade on this board is the might Apple (Nasdaq: AAPL).

I bought at the open yesterday using "Buy At Market". The trade went through during the first minute of trading.

Here's what I was seeing a liking on the Apple daily chart:

(click on chart image to enlarge) 

1. The three encircled candlesticks all showed long "bottoming" tales before recovering late day. The first of those candlesticks (the one from last Friday, 5 Apr 13) is what's referred to as a hammer - which is signalling a "hammering out of the bottom". 
2. Note that the hammer on 5 Apr 13 touches $419.68 as its low. Previously, one month earlier on 5 May 13, we have a yearly low of $419.00. What we have from both of these lows is a "double bottom".
3. Note the 3 week old downtrend line (used by swing traders "shorting" Apple for two the past two weeks) was broken out of on Monday 8 Apr 13. Tuesday was more of the same type of action of Monday, higher highs, higher lows. Three sticks in a row, higher highs, higher lows.
4. Lastly, using risk/reward money management, I set my stop/loss at $418.00. Even had I been stopped out (or stopped out of it today) I still would have not lost more than 1/2 of 1 percent of all my trading capital. 

As luck would have it, Apple takes off, finally, the day I bought the open. As Apple continues up its new trendline, I will continue to raise my stop/loss.

For an always updating view of my Apple Daily Chart, click here.

Welcome To The New Southernmost Swing Trader Blog

As some of you already know, I have started a blog of "safe" Dow 30 trades which I use swing trade timing to enter and which I intend to keep as Long Term Buy & Hold investors - such as my family. The name of that blog is The Dow 30 Swing Trade (LTBH).  

This new blog, Southernmost Swing Trader,  will be for those of you who might want to try pure swing trading without a bent for Long Time Buy & Hold Investing (heretofore abbreviated as LTBH Investing).

Here, instead of focusing on Dow 30 stocks with healthy dividends, we will be chasing stocks with volume and big average true ranges in share price.

Here, we will watch momentum stocks.

Here, we will watch hot sectors in play.

Here, we will trade both bullish and bearish ultra ETFs.

Here, we will embrace volatility.

Here, we will employ stop/losses. Rarely will average down on any position. Many times we will average up on entry positions.

Most of our trades will last 5 to 7 days. A small handful of trades, perhaps 10% to 20%, will develop into holds which stay in place for a few weeks, or until the primary trendline gives way and we are stopped out after having raised our stop/losses numerous times.

Here, we will not drill down into Financial Analytics, but will employ Technical Analytics to find high probability setups

Here, we will share trade secretes and stock tips to make us all emotionless traders bent on beating the markets weekly, monthly and yearly.

That said, get ready for my first pick which I entered just yesterday.