Apple, Inc. Was Up – Made a Good QLD Trade
Apple Inc. is up, markets are down (just a wee bit) and I’m up 1.25% on my latest trade, which was QLD. It was a nail biter though. Got in at 24.72, hoping for a break upwards. What I got was a breakdown. All the way to 24.06. That was support and where I should have added more shares. Today though, I played it safe and would have sold my position had it broke through that support line. What I did was, ride it back up and punched out at 25.37 for a gain of $325 (+2.65%) on my 500 shares.
Other stocks that were under consideration today were ESI, AMTD and NITE all on their recent good earnings report numbers. But since the open was looking down, I just decided to watch for a QLD / QID entry. I picked the wrong one, and really should have gone with QID. Had I chose QID I would have been out of todays trade much earlier in the day. Oh well, a win is a win!
Note: AAPL, ESI, AMTD and NITE are all categorized as LowPES Stocks in my stock pick lists. They all had record “low pes” (price/earnings screen) numbers. -Harvey
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