AAPL is oversold in the short-term, so our trading club bought 1500 shares of AAPL at $128 (around 100-day moving average) a few days ago. We expected that a deal would be reached for Greece in the weekend. Bad luck, no deal! If the AAPL price stays below $125, we may have to sell our long positions. Hope not.
FB is very overbought in the short-term, so our trading club shorted 1500 shares of FB around $88 at close last Friday. Due to Greece, the FB price is now below $87. We plan to start to cover our short positions from $86. Thank Greece.
In pre-mkt trading, AAPL retested 100-day MA and then bounced up. Prepare to cover short and then go long after 8am ET.
If you check AAPL's daily chart, you will see that 100-day moving average is a very important support for AAPL. Yesterday AAPL tested its 100-day MA around 126.1 and then bounced up. This morning, AAPL is going to re-test 100-day MA. Now it is good time to cover short around 126.1 and then go long. I plan to cover my 500 shares short and then buy 200 shares.