TRADE OF THE DAY: Apple Picking

Takeaway: Keith’s multi-factor, multi-duration model produced another winning trade in Apple stock.

We don’t believe there is a single authority on Apple (AAPL) or its stock price, but we do believe that you can risk manage a trade in Apple. That’s exactly what Hedgeye CEO Keith McCullough did today in our Real-Time Alerts, and it’s our Trade of the Day.

 

Here’s what happened: Keith’s models flashed an immediate-term oversold signal, and he bought AAPL at 10:27am today at $502.50, just above the low of the day when the stock briefly traded below $500 for the first time in ten months. The stock fell in part because of another downgrade by a sell-side analyst.  However, AAPL rallied to close the day at $518.83, thanks in part to word that the company’s IPhone 5 sales in China  topped two million handsets.

 

Keith’s trading record in AAPL is stellar due to his multi-factor, multi-duration model that manages risk in real-time. Keith sold AAPL on September 28 at $677.74, just ten days after the stock broached the $700 level.


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