The government shutdown continues on, and traders on Wall Street are getting nervous. Today the market had another big sell-off, with the Nasdaq and the Russell 2k markets hit particularly hard.Apple had a nice reprise yesterday as Perter Misek upgraded Apple, which boosted Apple’s share price in the face of a generally down market.
But today, that love for Apple stock wore off, as the overall gravitas of another big market down day, was too much for Apple to bear. And as a consequence, the AppleInvestor OTW trade, went from another huge winner to a marginal winner. Better than a loss I guess.
The OTW trade, other wise known as the Over The Weekend trade, is an exclusive of the AppleInvestor Trade Room, and usually produces on average over 8 points per winning trade. Today it finished just under 1.4 points.
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AAPL OTW Trade Closes with Gain of 1.36 Points
The trade is usually initiated by a signal from the OTW system on Friday and closed today. The signal timing usually provides an extra edge for our traders. But this time we traded the OTW using a Credit spread, so timing was not quite as critical.
At the open this morning, Apple was trying to break through 490, but once the broader market selling got under way, the good vibes from yesterdays upgrade were not enough to keep Apple above this elusive mark..
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