SSS - AAPL Testing 200-dma

Published : June 16 2011 at 14:05 ET

Apple, Inc. (AAPL), which we first suggested as a short closer to 340 two Mondays ago, is testing its 200-dma and currently dipping just below it. A clean breach of the 200-day line on heavy volume would be a second short point, and we would look for yesterday's high at 330.30 to be our max upside stop. We have a position in AAPL.

Under Armour (UA) is also breaking off the peak of a possible right shoulder in a Pinhead & Shoulders formation. The max stop here would be the 50-dma at 68.60. We have a position in UA.

NTAP and LULU from earlier this morning remain in play and are working for now. We have a position in NTAP.

The general market continues to weaken, and a high-volume reversal here would likely bring the mid-March lows into play, so VoSI members should be cognizant of where the market indexes and any short positions are trading at as we approach those levels since a reflex rally is always possible and if you are short you want to be ready for this, ready to take profits and cover if a rally ensues, not sitting back on your heels as you begin to tally up profits. Remember to set price objectives and upside stops depending on your own expectations for the trade and risk tolerance/preferences. Stay alert!

This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.