Trade Like an O'Neil Disciple by Gil Morales & Kacher Chris

Author:Gil Morales & Kacher, Chris [Kacher, Chris]
Language: eng
Format: mobi, epub
Publisher: Wiley
Published: 2010-08-02T23:00:00+00:00

2. Cerner Corp. (CERN)

3. Green Mountain Coffee Growers (GMCR)

For readers interested in similar real-time analysis of individual stocks, see the Follow the Stock section on our website: www.virtueofselfishinvesting.com.

Apple, Inc. (AAPL) 2009

Apple, Inc. (AAPL) flashed a pocket pivot buy point on April 16, 2009 (Figure 5.51), nearly a month after the general market logged a follow-through day, signaling a new general market rally phase. On the pocket pivot day volume was the highest in the prior seven days, and was also higher than any down-volume day in the prior 16 days, thus meeting the 10-day minimum required for a proper pocket pivot “volume signature.” AAPL began its move on the pocket pivot day reasonably close to the 10-day moving average, which qualified as a buyable pocket pivot. A second pocket pivot on May 26th came right off the 10-day moving average, at which point one could buy enough shares to fill out a “full” position. Notice that AAPL does in fact violate its 10-day moving average relatively quickly after each of the two pocket pivot buy points. This dictates that we use the 50-day moving average as a selling guide for now.

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