Funny you should mention Apple. My cost basis is $126. Recent weakness is a real cause of concern. I was thinking to buy some at the close in order to bring the cost basis down. It would be short term play. The other option is buying puts but I wanted a better price. The late day surge helped. I may buy them Monday, hoping for a follow through for a even better price.
I don't like to predict beyond the current day in most cases. I was short 2000 of AAPL and RIMM and I give my stops a little wiggle room. With those size of shares it doesn't take much to start feeling a little pain. It was my fault for being in late on friday and reshorting after the long moves down. Its part of the game so I am not crying. I could have used better judgement and saved myself from that scenario, but those futures breaking down after 3 had panic selling written all over it. Then again, I can't anticipate breaking news either. I think AAPL has room to break below $110 briefly, but like I said I take it only as I see in current time. With all this B.S. going on I won't take swing trades right now because only God knows what will happen overnight.
AAPL is showing a massive descending channel and these channels are meant to be broken to the upside. Can't say when but its coming any day.
Yes I do scalp depending on the current market conditions. Like I said it all depends on the current market conditions.
I wouldn't call me a big player, but I am definately not one to screw around , I am just like any other trying to make a buck!