Looking back, it's been over 20 years since Apple had a rally like this - it's up 18.8% in 11 days, with no pullback or a single red daily candle. This has to be the dumbest, most "panic buying," peakiest rally ever, but it doesn't matter because I bought puts too early. I don't know how this type of a rally is possible, there aren't enough shorts on the planet to squeeze or anywhere near enough float to consider this a short squeeze. It just seems like everyone is now all of a sudden clamoring hand over fist to buy Apple down 2.5% off its all time highs - right on the tail of Apple slashing iPhone SE sales by millions of units amid production constraints and the Fed committing to hiking rates. Unbelievable.
Apple has smashed through almost all resistance levels, does not care about any bearish divergence on numerous indicators, or anything besides gapping up almost every single day. I don't know what else this could be apart from market makers trying to pump this thing into oblivion before a massive dump.
Often times the market makes moves that don't make sense. This one really burned me and I should have planned better and scaled in smaller. Hopefully someone else times this better than I did.
Apple has smashed through almost all resistance levels, does not care about any bearish divergence on numerous indicators, or anything besides gapping up almost every single day. I don't know what else this could be apart from market makers trying to pump this thing into oblivion before a massive dump.
Often times the market makes moves that don't make sense. This one really burned me and I should have planned better and scaled in smaller. Hopefully someone else times this better than I did.