Warrior Trading Blog

On The Wrong Side of $AAPL For A $200 Red Day | Hulkman’s Trade Recap

Hulkman 5.1

How’s it going, traders? Hulkman here, wanted to go over today’s trade recap. Unfortunately, it is a red day, but that’s okay. Bummer on the day. As long as you manage your losses small, and keep your winners larger than your losers, then overall you can stay profitable in these markets.

I wanted to show you guys what we had on watch today. Initially out of the open I had this AMD, this macro trend line here comes off the daily chart. I really, really like this trend line. Probably should’ve stuck with this one, but yes, even though we had … you can see where immediately pulled back in, and it started to top out here. This was a good one. You couldn’t break past this macro trend line. I’ve traded it off this trend line a couple weeks back, so this would’ve been a good one for today, but the reason why I did not trade it, and took it off the watch list pretty early, was due to all this support. I thought this would probably top out the rest of the day, and we had a better name to choose from.

Apple initially looked pretty good, so with that, I took it off the watch list, but obviously in hindsight this was the one. This would’ve made a nice, nice day. AMD’s typically pretty liquid, get good volume. You can take large size on it, so we ended up getting my entry on it probably would’ve been off this 15, with an add spot here. Probably would’ve had an average around 2660, 70s, right around there. Nice, good move. About a point and a half, but obviously in hindsight …

Other one we had on watch today was this Garmin. I like the way Garmin trades. This one I would’ve been okay with, but it just had no volume. I mean when you look at it, 120 at its peak, and later on in the day we have an off order here. Nothing there in Garmin for me, so I just stuck with what I had initially on the watch list, which was Apple.

Apple was looking good. They had earnings, they beat good guidance, it was looking pretty good, and what happens here with names like this, you have investors that come in that are holding, or come in to buy up yesterday, the day prior to earnings. Once they see this kind of move, if you don’t see continued strength, what I start to look for is a fade out of the open. What happens is initially people will take profit, when they take profit you get a nice move downwards, and if it continues higher or so, then that’s yet to be seen, but I was initially just looking for this to do a gap fade set up with profit target here at $204.52, and back of the mind target would have been this 20 AMA, but it didn’t work out. Had a nice double top in the pre-market, started to show weakness, lower lows, lower highs. Started to base out here a bit, so I waited for the pop.

I wanted to see if we would get a pop into the pre-market high right here at $213, but that didn’t happen, it held. I’ll show you guys on the granular timeframe. Right here, we had the initial attempt upward in the morning, and this was actually very, very weak. Not much buy pressure. Look at the volume, 1.2 million, so this would’ve been the initial spot for it to run. If this would’ve had true strength, it would’ve ran.

What I did is I end up watching this for a re-test. I had a big area. This area here. Big area of resistance. This is my 5 [inaudible 00:03:28] AMA, and 15 minute 20 AMA, along with a descending trend line from the pre-market. So, I figure okay, we got pretty good chances of this, nice pocket below, obviously Apple being in earnings today is a good catalyst, good volume, this would’ve been a great trade, and one that I would trade again if it comes up, but …

So saw the initial flush, I knew we had this pivot here at $209.50, so okay, let me see what kind of reaction we get out of this pivot. I had two game plans on this. We come up and test View App. I’m going to get an entry order from break or low, and start to make a triangle, as you’ve seen in my previous recaps, start to perform a triangle here for the move downward, I would’ve got an entry down here.

But we got a nice re-test out of the open, after the initial move, so I took my first entry right here. I had my entry at $210.33. So right down here in this zone. Right as it started to break past reject, this 13 AMA on View App. Once I saw that happening, a lot of sellers piled up and saw the move starting to take place. I went ahead and added right through here. That gave me an average of $210. My average was $210 at this point. Broke through the pivot. I was looking for a triangle, or a pivot lower in the direction of the trade, and that would have continued lower, but that didn’t happen. You could see this clean, clean, very clean double bottom. Once I saw this double bottom, took me off ease a little bit. Made me a little bit concerned, so I watched it, but I knew we had all this resistance above, and I wanted to see what kind of test we would get back up at View App, so I can add some more.

At this point I had about 500 shares, looking for this nice pocket downward here. Would’ve been a nice trade if it worked out, but no, it came back up, tested, started to reject, but then just popped right through View App. When we popped through View App, I held a little bit longer than I usually would, just because I knew we had all this resistance up here, but there was really not much sell pressure. I ended up exiting out of the position at 47. $210.47, that was my out. No other trades after that, decided to just call it a day.

Important to know when to stop trading. If not, then that’s how the snowballs happen. I’ve been there, as I’m sure many of you have. If you are not trading well, or things are not in your favor that day, nothing wrong with stopping, calling it a day, and come back the next day.

Let me show you guys here … look at this buy. Another reason why I just decided to call it a day. Not only did we have nothing else on watch, but look at this buy here. Right here. I mean look at this. Just nothing but [inaudible 00:06:31] action, just ridiculous action here. Nothing there that’s tradable. No clear direction. And then we started to get this off, kind of … it was hard to get a read around here, so I just said “You know what? I’ll just call it a day. Come back tomorrow.”

Nothing wrong, I’m okay with the loss. I will trade it again and again. I feel I had a good entry, good add, probably would have added again. Probably got below this pivot with the triangle, would have made for a nice day, but it’s important just to keep your losses small, or at least manageable to what you can make in one or two trades. I know that my typical winner is about $500. Good, good days are about $2,000 for me. Good days are about $1,000 for me. $200 red day, nothing I can’t make back in a single trade. I feel good with it, I’m happy with the day. Called it a day after that, and I’ll be back tomorrow. Let me know what you guys traded today. Put it down in the comments below. I want to know what you guys trade. I will look at the comments and try to respond to you guys if I can. T

Thank you guys for watching, hope you liked the video, see you on the next recap.

Oh yeah, before I forget, let me show you guys P&L. I like to post my P&L, make sure everybody sees how I’m doing, how I’m trading. I got $203.50, about $200 red on the day. More than happy with that.

Like I said, thank you guys, see you tomorrow in the chat room.

Oh hey, I didn’t see you there. Well, I was just working on the dream board for my next home run trade. Hopefully it comes soon. Until then, make sure you subscribe to get email alerts anytime I go live, or upload new videos. Until then, happy surfing.