As mentioned in my last article, Apple is a product launched play. Broke thru $550 yesterday!
I entered, now I am riding on my profits, and moving my stop loss higher. As a trader, we should always do that, just in case market falls.
When I posted this article, Apple was at $540, now at $553 post market. It is flying now, especially when premarket orders of the new ipad are all sold out. The launch on 16th March I foresee will be an excellent success given the demand of preorders.
My immediate target of Apple remains at $570 as mentioned in last article.
Article on the success of the preorders:
SAN FRANCISCO -(MarketWatch)- Customers hoping to preorder the new iPad from Apple Inc may have to wait a little longer to get one.
Apple said in a statement that supplies of the new tablet it had set aside for preorders have already sold out, and that the only way customers will be able to buy one when it's released on March 16 will be through an Apple retail store or through one of the company's authorized resellers.
"Customer response to the new iPad has been off the charts," an Apple spokeswoman said. The company declined to release specific sales figures.
Full article can be seen on this website: