Dip Buyers Vindicated

Quote from Brandonf:

Eventually AAPL will suffer from being the leader. Everyone will try to come in and copy what they are doing, eventually someone will do it better. Its already being seen with the Ipod (though I think that the Ipod is still the best product). At any rate, its probably a silly thing to think that AAPL is going to continue to grow its earnings the way it has been forever. That said, I think that if I had owned AAPL for awhile the last thing I'd be thinking about is selling it right now, its the strongest stock on the board, and certainly anyone thinking about shorting it here should, at least in my opinion, step back and take a deep breath before they hit the button.
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Never said short it, but to take your $$ and move on.
 
Quote from Comanche:

Never said short it, but to take your $$ and move on.
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I guess I should not have quoted you, coz i was not directly speaking to you..just in general about AAPL. Sorry.
 
Quote from HolyGrail:

Well, this is the way I look at it. If I buy the emini at 1517 and sell it at 1529 I made 12 points. I still made the same amount of money regardless of the volume it took to get it to 1529. If you have to wait for volume you have already missed the majority of the move.
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Good luck with that. Get back to me in 10/15 years and let me know how its working out for you.
 
Quote from HolyGrail:

I've already been doing it for longer than that and I'm still here. High volume is always late to the party.
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Continued good fortune then. Whenever I ignore it I get bit in the ass for it.
 
A joke thread from the ET Jester, er I mean genius? :D (just kidding around LP, I'm sure your IQ is higher than mine whatever that means)

Loaded with EEM Puts and reversed my hedge and went short @1525. This was nothing more than a bounce, and a weak one at that. The sox tried to break the down trend line but was unable to and left a hammer sitting there meaning a probably down day tomorrow. BKX hit resistance at 116 and wasn't able to penetrate. Yen indicating some elevated perception of risk. Vix still above 14 and IYR down 1.5% are some of the things I am looking at for confirmation one way or another, not to mention deteriorating market internals AD dropping, down vol picked up to swamp up vol in the last hour, RSI and Macd weak on this bounce and a few divergences in various indicators. Not sure how much more down side there is but looking for at least 1498 but potential for 1460-1480.
 
Quote from Brandonf:

Continued good fortune then. Whenever I ignore it I get bit in the ass for it.
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I never said to ignore volume. Volume is important BUT it is totally dependent on WHERE within the trend the volume occurs. The last three months we have been in a low volume uptrend. If the bears were strong enough they could pummel this market but they don't have the power. Low-volume extended uptrends are more difficult to reverse than high volume ones. When you see a high volume upmove in this trend it will most likely be a blowoff top and the market will reverse.

At least that is what my market experiences have taught me.
 
Quote from Comanche:

Has to be THE most unconvincing rally I have ever seen in such a "Strong" bull market.

I am selling here based on action.

Sold ES 1513.50
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I congradulate you, sir; well played.
 
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