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AAPL at 621.77 Support holding so far. :)

It's not just the Harami involved in a reversal of course. The $SPX also has good support at 1350, and a solid 4 month uptrend behind it. I think all 3 things combined, are probably saying "more upside to come". Then again, maybe I'm just talking my book - being 100% long at the moment! :D

Not sure I'd bet much on 40% probability!

Bullish Harami Candle Pattern in the $SPX? Harami: When you see this pattern the first thing that comes to mind is that the momentum preceding it has stopped. On the first day you see a wide range candle that closes near the bottom of the range. The sellers are still in control of this...

So you're back in long again? Probably best, it's not easy to time these moves. Sometimes I think they make up World News just to manipulate the Market. Down 5 days in a row - Europe is falling apart, etc. OK, enough of that - Europe is alright again... and we get a bounce. :)

I agree about Bernanke, though it's not for certain he'll need to help out just yet. AAPL has held up real well so far during this correction, relative strength wise. The low PE helping out a bit perhaps? I can't see it going below 600, and maybe even 625-617 will hold as support. Will be...

I'd go with Food/Beverages & Retail. Nice steady uptrends taking place in those sectors. MCD & MNST for food/beverages ROST & DLTR for retail I'd be buying those "on the dip" during this correction. They should come back OK.

[$compq chart to compare]

AAPL holding up very well so far in this Correction. On the way up, AAPL was at 575 when the $COMPQ hit 3000.

80 cents on a $600+ Stock that moves up and down $15 a day? That's tight what is tight. Need great timing! I've never had much luck with Stops - too many whipsaws. So I just keep my Options net prices at a max -2% of equity, and try to get out before they hit zero!

You the Man, Uncle Ho!

Cool. I can't take the stress of Day Trading anymore, so I do mostly Credit Spreads for 6-12 month Trends, and some Single Options for Swing Trades - using Earnings Announcements as the Catalyst for the short term moves. What about loss control? You were talking % with someone yesterday on...

A profit is a profit, regardless of how you do it.... Good for you Uncle Ho!

Uncle Ho sold 1/2 for a profit I see. Good for him. AAPL back to 632. Was that his only chance, or will it go back below 630 again?

Yes, AAPL at 629. The headlines are blaming all this deep red on Europe. This is the rumored correction happening I guess. This is when Trend Traders start to reexamine their faith.... I hope Uncle Ho sold his Puts on the dip!

Now Atticus, don't get all excited. I wasn't trying to insult Surdo. I'm just trying figure out if Uncle Ho is for real. I guess Surdo has confirmed Uncle Ho really exists, and you've now confirmed Surdo really exists. So I guess my suspicions were wrong. Fine by me. Anyway, Uncle Ho, are...

I guess it also depends on the time scale you trade in. If you "bought and held" AAPL for the last 3 years, and added on all the dips and breakouts, its Trend would have been your Best Friend indeed. If you got in January 2011 and sold in late June 2011, you'd have lost money. If you do...

I agree with this 100%. I know, because I used to do it all the time. Lost lots of $..... :(

This has got to be a hoax. You two are in on it together right? Or perhaps Uncle Ho is a schizophrenic, and one of his critics in this thread is his other half? It's not me, by the way.... :p

Never thought about it like that, but very true. Another perverse part of human nature I suppose. It's certainly cost me a great deal of money in the past. Until you finally realize the most important "Trading Truth" of all is: THE TREND IS YOUR FRIEND! lots of your money will continue to be...