Apple is everybody’s stock of the week for good reason. As Apple goes, so does the Nasdaq, and the market in general. It is nearing all time highs. It has made a nice run from the original $120 breakout level.
Did I mention that it also reports earnings after the market close today?
We entered $AAPL in the Trade Report service at $125. Our plan was to ride it into earnings, and if there was enough of a cushion, to do something we rarely do: hold through earnings. The stock currently sits at $133, which gives us an 8 point cushion heading into earnings.
Now even if the stock has a bad earnings reaction and gaps down, we have mitigated our risk. And if we get a positive response we’ll get a huge win. This is the type of risk I’m willing to take going into earnings.
For those who are not in the stock, watch for a break of the $133.60 high.
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