Here’s how I’m tradin Apple ($AAPL)…and a few other monsters. (July 31, 2020)
AAPL FB AAPL AMZN AAPL NFLX GOOGL NVDA GOOGL
I want to talk about Apple ( NASDAQ: AAPL ). All the FANG names were rocking on Friday morning but Apple ( NASDAQ: AAPL ) did what these others really didn’t do, at least not very well. You will see; we’ll just kind of go through them here.
Apple ( NASDAQ: AAPL ), I’m going to start here and end here. You see the stock gapped way up, up 7 percent, ultimately wound up over 10, but it gapped up here and then sold off. Well, from an intraday trading standpoint, when a stock gaps up this high and then trades off you don’t want to be long that stock.
I sold into this strength, unfortunately, I didn’t get back in because I had an appointment and couldn’t get back in. I told people if the stock that you bought this morning at the open isn’t up above where the opening print was, it probably isn’t going to get up there again.
With Apple ( NASDAQ: AAPL ) here’s the thing, I was right. I was absolutely right about that statement, all the way up until the time that I was wrong, which was here in the early afternoon. Then the stock started moving out of here, a new high, and then it really started squirting higher into the last hour. So there is buying all the way into the close and I don’t think that is like options pricing pin action or something; I think this is real buying.
If we look at the other stocks though, you look at Facebook ( NASDAQ: FB ), this was kind of a gap and crap. It still closed okay and if you look at the daily chart I could make a case for buying this stock again if it breaks out above 255.85. That would really be a technical buy point right there on a breakout, huge volume.
But Apple ( NASDAQ: AAPL ), 4-for-1 stock split, that’s going to really help this stock. There is every reason to be owning this stock right now. Particularly, if you look at how it traded intraday.
If we look at the other, Amazon ( NASDAQ: AMZN ), I am glad this thing fell. I tell our members that; I am glad this thing fell because I want to buy more of it. This is a monster stock and I want to be able to buy it, I just have a hard time buying this stinking thing when it is clear up here and now it’s failed 3 times. I would rather be able to buy it closer to 3000.00. I seriously doubt it’s going to fall that far but if it came down, 3100.00, something like that, hey, I’d be a buyer then. I think, ultimately, this stock goes much higher.
So that’s Amazon ( NASDAQ: AMZN ), that’s Facebook ( NASDAQ: FB ), that’s Apple ( NASDAQ: AAPL ). What about Netflix ( NASDAQ: NFLX )? Netflix ( NASDAQ: NFLX ), I guess they won a lot of Emmy’s but the stock isn’t doing squat; nothing to do here, I think. And then Google ( NASDAQ: GOOGL ), really nothing to do here either.
So of all of these FANG stocks, and we can look at NVIDIA ( NASDAQ: NVDA ) but that is kind of not related. Stick with NVIDIA ( NASDAQ: NVDA ), there’s no reason to sell this stock. I just got done telling our members this, this is important, listen to me, if a stock is not giving you a reason to sell, you can’t find a reason to sell your stock stop looking for the reason, just hand onto it.
Stock like NVIDIA ( NASDAQ: NVDA ); this is gold, man. I am not really sure that I would buy it right here, but I think if I was buying it right here I would make money. I think I would make money, don’t you?
Look at this stock; do you think it’s done going up? I don’t, I think the stock is doing fine. Entry is everything; this is not the best entry, not a bad entry. If it pulled back closer to the 20 or it paused sideways long enough for the 20 to catch up to it, then I’d be interested in buying.
But back to the FANG stuff here. Google ( NASDAQ: GOOGL ), a rebound off of the 50-day moving average, that could be your entry on this. But I think this stock just has a little bit more room, it just has to kind of grind sideways.
One other thing here and I am going to let you go. Again, just buy Apple ( NASDAQ: AAPL ) and be long the stock. There is no reason to be selling that stock, not after the way if performed today.
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