Only Apple
- Thread starter short4bread
- Start date
We all know the outcome, it's just a matter of withstanding the retracement.
I'm a buyer between the gap fill and the 500 level for a break of current highs.
I'm a buyer between the gap fill and the 500 level for a break of current highs.
obviously aapl will print 500 next two weeks, it peaked.
only idiots will buy when it retrac or actually in a down trend.
if you connected the low and high, easily it is a reversal pattern.
I bought some 550/530 put for next two weeks. nasdaq will easily drop another 100points next week (normally it will be below 100points of 50EMA, it bounces or reverses).
May historically is pattern. 2010/5/6 10%drop, dow dropped 1000points.. 2011 5/7 crude dropped 10%, then middle may the index. this year it seems the same, crude dropped almost 9bucks (two days), nasdaq dropped 120+ (two days)...
May historically looks like a reversal. a strong start, then from May, it reverses,.... the same pattern
aapl goes up quick, it will become the star when all the markets start to drop, she will lead the drop
only idiots will buy when it retrac or actually in a down trend.
if you connected the low and high, easily it is a reversal pattern.
I bought some 550/530 put for next two weeks. nasdaq will easily drop another 100points next week (normally it will be below 100points of 50EMA, it bounces or reverses).
May historically is pattern. 2010/5/6 10%drop, dow dropped 1000points.. 2011 5/7 crude dropped 10%, then middle may the index. this year it seems the same, crude dropped almost 9bucks (two days), nasdaq dropped 120+ (two days)...
May historically looks like a reversal. a strong start, then from May, it reverses,.... the same pattern
aapl goes up quick, it will become the star when all the markets start to drop, she will lead the drop
Obviously you are entitled to your opinion but the weekly is a bull flag and this downtrend is only but the pennant of a much bigger formation.
The only way this is a top for Apple is if the indices made a top themselves, and in electoral year, I highly doubt it, particularly with a Fed Chairman that won't raise rates no matter what.
I don't fight the fed, I buy their pull backs as long as they are not raising, and I only buy the best, and Apple is the best of the USA.
It is a market afterall, you are a bear, I'm a bull, 700s are coming.
...particularly with a Fed Chairman that won't raise rates no matter what.
I don't fight the fed, I buy their pull backs as long as they are not raising, and I only buy the best, and Apple is the best of the USA.
You hit it right on the head FoN.
I lost a lot of money shorting the July '09 - April '10 uptrend.
"It doesn't make sense, the news and fundamentals are so bad, it HAS to go back down, etc."
It just kept going up and up and up....
Just kept shorting it, "knowing" I'd be right eventually!
Ugh.
Then I saw a trader interviewed on TV who said, "Actually the Bull Market makes perfect sense, because of the Fed's Interest Rate Policy."
That's when a light went on in my thick skull and "Don't Fight The Fed" finally hit home.
Ahhhhhhhhh!!!!
I don't fight the fed, I buy their pull backs as long as they are not raising, and I only buy the best, and Apple is the best of the USA.
You hit it right on the head FoN.
I lost a lot of money shorting the July '09 - April '10 uptrend.
"It doesn't make sense, the news and fundamentals are so bad, it HAS to go back down, etc."
It just kept going up and up and up....
Just kept shorting it, "knowing" I'd be right eventually!
Ugh.
Then I saw a trader interviewed on TV who said, "Actually the Bull Market makes perfect sense, because of the Fed's Interest Rate Policy."
That's when a light went on in my thick skull and "Don't Fight The Fed" finally hit home.
Ahhhhhhhhh!!!!
Quote from cactiman:
...particularly with a Fed Chairman that won't raise rates no matter what.
I don't fight the fed, I buy their pull backs as long as they are not raising, and I only buy the best, and Apple is the best of the USA.
You hit it right on the head FoN.
I lost a lot of money shorting the July '09 - April '10 uptrend.
"It doesn't make sense, the news and fundamentals are so bad, it HAS to go back down, etc."
It just kept going up and up and up....
Just kept shorting it, "knowing" I'd be right eventually!
Ugh.
Then I saw a trader interviewed on TV who said, "Actually the Bull Market makes perfect sense, because of the Fed's Interest Rate Policy."
That's when a light went on in my thick skull and "Don't Fight The Fed" finally hit home.
Ahhhhhhhhh!!!!
That's exactly right, I don't get too lost on technicals, the fed is the biggest player in town, when they force you to buy, you got to buy, that's right force you, they are forcing the american people to buy to stimulate the economy with those ridiculous nearly perpetual low rates, and what better way to buy than accumulating in pullbacks.
No bear markets until they raise, until them, all pullbacks. Some claim the fed is out of bullets, ridiculous statement, to put it bluntly, don't f**k with Bernanke, in electoral year, he's got unlimited ammo.
Not sure you can count on much higher prices if U6 unemployment is at 15+%, and the unemployment rate is 8.1%. That never is good for any incumbent president so don't expect a rally until Romney starts taking the gallup polls.
Could be in for a dose of deflation, after rampant inflation, which occur at the same time, and this time around that will not translate into higher prices in equities, because interest rates are too low.
Same as always, if it get's too low, Bernanke initiates a stimulus.
The SPX looks like a top in the making, AAPL could be the start of the C wave, not quite sure.
Where's Mr777 to enjoy his moment of glory?
Where's Mr777 to enjoy his moment of glory?