Trades: AAPL and NOV

I sold 150 shares of AAPL at $125.84 (entry at $121.75) for a $613.50 gain (+3.3%). I noted the exit in the comments section of my last post.

At the close, I sold 200 shares of NOV at $116.11 (entry at $109.64) for a $1294 gain (+6.0%).

Both trades were pullback plays off of extreme weakness. While buying on this type of weakness can be risky, I felt they were low risk, high reward trades. When I bought the stocks, they had fallen right into very strong support areas. If you look at the charts below, you will see that price could not help but to bounce.

Note that these were extremely short term plays. AAPL actually looks like a good short candidate for my normal swing trading style, and is on my primary short watchlist. However, it was obvious the stock was a good long day trade, due to the support level.

NOV is still a good long candidate, as long as the 50 day moving average holds and OBV remains strong.


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