April 27, 2015 2:20 PM | 1 min read
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Redler, T3Live/T3TradingGroup's Chief Strategist discussed
Apple Inc. (NASDAQ: AAPL)'s upcoming earnings report. The trading pro pointed out to last week's action when shares of Apple "regrouped" after dipping below the $126.57 level only to trade above the $128 level without selling off, marking a bullish signal that he has taken advantage of, although he admitted that holding shares into an earnings print isn't a strategy that he normally employs. "If Amazon can make new all-time highs, and Netflix can make new all-time highs and Google can go up on bad earnings," Redler said. "I'm going to stay in this at least until the overnight."Redler noted that he will re-evaluate his long position 30 minutes prior to market close and had already sold some of his holdings on Monday. He did caution shares of Apple typically gap up much higher following an earnings release, making it "tricky" to play earnings without holding a position which is why he has trimmed his initial position to only 25 percent.Related Link:
Scott Redler Sees More Gain For Tesla Heading Into Q1 Earnings He added that the $133 level is the same "pivot" level and mirrors Netflix at $485 and Amazon at $395.Shares of Apple traded recently at $131.50, up 0.9 percent.
Listen to the full interview below:
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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