David Covers His AAPL Short

David Covers His AAPL Short

David of All About Trends mentioned that he was shorting AAPL in this weekend's Market Shadows newsletter. Today, he covered his short position in AAPL. Following up on his short trade idea, he sent this to his subscribers and to us:

All About Trends 
SHORT SELL Locking In Gains
Trade Trigger Alert: AAPL
March 28, 2013
 
Given that AAPL is one of those popular names for painting the tape (i.e. market manipulation), we'll lock down our gains from shorting last Friday (3/22) and call it a day.
 
AAPL is currently trading at $ 444.50, and that will be the price we buy to cover our short 20 shares position.
(AAPL closed lower, at $442.71.)
 
  *****

Notes:
1. The moment you take a trade, you are at the mercy of the market and have no control except when to sell/cover. If you are not willing to take the risk of losing, do not take the trade. Only take risks knowing you may lose.  Have a plan to limit your losses.
 
2. To help limit your loses, manage your trade size according to the conservative principles. Keep positions at 5% or less of your portfolio.  See Market Shadow's Virtual Value Portfolio for an example of how to apply rules to limit position sizes. Do not let a surprise disaster in one stock decimate your account.
 
3. A stock can only do one of three things: Rise, decline, or go nowhere. The moment you hit the enter button you are at the mercy of the market. You only decide when to sell/cover.  The market will do what IT wants to do.
 
*****
 

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THESE ARE NOT BUY RECOMMENDATIONS! Comments contained in the body of this report are technical opinions only. The material herein has been obtained from sources believed to be reliable and accurate, however, the accuracy and completeness cannot be guaranteed. Allabouttrends.net is not an investment advisor, and does not endorse or recommend any securities or investments. Any trading ideas contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation with respect to the purchase or sale of any securities. All trademarks, service marks and trade names appearing in this report are the property of their respective owners. We are not responsible for your trading decisions. Market Shadows and Allabouttrends.net shall not be liable to anyone for any loss, injury or damage resulting from the use of any information. This information is strictly for educational and informational purposes. Allabouttrend's charts are courtesy of stockcharts.com. 
 
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Comments

  1. You are welcome!

  2. Investwizard says:

    Thanks for the post. 

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