Not in my challenge account, but in one of my retirement accounts I bought 200 shares of Apple, and was just looking for a slight bounce. Well I got a 10 dollar drop instead. I had sold some calls, and had a put on it, so my cost is around 135, but the chart is looking really toppy for my liking.
As you can see there is a bottom trend line that we have hit 4 times, and it looks like we hit the 161.8 retracement level. With the pull back to the trend line, we could be setting ourselves up for a head and shoulders patter here, if we bounce and make a lower high. Which could take us down to the 115 are on AAPL. I will probably get out once it bounces today or tomorrow, and take the little loss and be ready for a better buying opportunity. It looks like we are going to be getting one soon on Apple, and it is better to be prepared, then all in at this moment.
