Trades Update

In this type of market, if I am going to trade, it is going to be pullbacks to support or anticipation of breakouts, with hope of taking profits at the breakout level. I have done that with both AAPL and LNKD. Both stocks are within consolidation at different points. AAPL is at support and LNKD is moving up within its range nearing the highs. With month end and beginning of the 3rd quarter upon us, there is usually a bullish tendency to the market in general. If that happens hear we could see a tradable bounce into the July 4th holidays.

Back in AAPL today at $571.47 with a stop $5 below entry. Stock has made a nice pullback to tight range support and could bounce here with first of the month and earnings season coming. First target is $590 and optimistic target is the old highs. Risk is 0.5%.

Entered LNKD at $106.48 in another trade within a range, anticipating a breakout. Stop is $4 below entry; risk is 0.5%. I was hoping for a stronger move into the close from LNKD but the market pulled back near the close and spoiled my fun. If it doesn't break through the highs of the range on the next test, likely tomorrow or the next day, it will be time to cut and run for now. I must say though, it looks like it wants to breakout, just needs volume to push it through. Will ride the 4ema up if it breaks out.

Still in EBAY with a stop at $41. This one may test support here for a few days, but it has held it breakout area nicely. I don't want to see it hang here too long before resuming its up move.