Online Stock Trading | Apollo Group Inc. – Daily 080406

This morning’s stock trading endeavour led to a profitable trade in Apollo Group Inc. The stock has been trending down, and the online trader always likes to trade with the trend. Notice the 20 and 50 day moving averages falling. The stock gapped down at the open by about 80 cents. This wasn’t an extreme gap for this stock, so the stock trader would be looking for a signal to short.

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Monitoring the 5 minute intraday chart gave him a trading entry point in Apollo Group Inc.

Online Stock Trading | Nasdaq – Daily 080406

A nasty downtrend by the end of the day for the nasdaq leaving short selling traders and bears in control of the stock market today. As you can see on the nasdaq daily stock chart, the composite kissed it’s 50 day moving average before turning down for the day. A logical area of resistance for the nasdaq. Will this be another lower high?

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With short selling in control, the online stock trader scoped out a victim and pounced on it. Apollo Group Inc.