9/9/13 Morning Blog

Monday September 9th 9:05 AM Posted in: Daily Blog

Good morning everyone, we did get the Golden Cross in AAPL around Thursday with the simple moving averages as acknowledged by CNBC Fast Money on Thursday evening we also have the Golden Cross happening today on the exponential moving averages today with expected increased volume. Friday before the close we entered the 505 calls and after the market closed we got the breaking news that AAPL would be entering the China Mobile market causing approximately 6 point rise from the close price.

Enough on the background, what to do now? Typical pattern is for AAPL to run-up into the announcement then sell off, very expected response. I suggest booking any profits here at the open and only reentering the 505 calls if it moves past the open price. Point of this is take what the market has given us and wait.

We have a major vote in the Congress and Senate concerning Syria early this week that could negatively affect the markets.

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