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AAPL has a upward daily stoch outside the OS zone. and a weekly stoch cross still inside the OS zone. The bar is RED, no outstanding institutional buying yet.
His advice was sensible, but he was ignoring the weekly price action and focusing on the daily too much imo. I personally think you should respect a strong weekly candle off of the 200 day MA as weekly bars have more significance. Price has made a higher high today, so I would personally hold it with a stop below the 200 day MA until the weekly price action gives a clue otherwise.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
AAPL has been back and forth around 390. I did this bear put spread, bought the Feb 385 and sold the Feb 375 for $385. Then I sold the Feb 330 put for $455 to pay for the spread. Gross of $70 with $2.20 in commission for a net of $67.80. So, I am suppose to have a profit of $1067.80 between AAPL 375 to 330. I sold my Dec bear put spread because it was OTM for $22. This has a chance, lets wait and see. I have a Dec bull call spread that will expire next Friday. Maybe, I will add another.
