Too many tech names to even mention today.
The ACD Method
- Thread starter sbrowne126
- Start date
Too many tech names to even mention today.
Shan, 2 dollars in AAPL is 1/2%. It's easy to get excited by the dollar moves of high priced stocks. PCLN popped 15 pts on the open. But still not much of a percentage move.
Right but you can risk 5 cents to make 20 cents! Also not a bad trade. I'm just pointing out that these moves are rather small. The reason I bring it up is because back in the day (long long time ago) when I traded stocks I use to think like you. The dollar point moves looked so sexy. It took me a while to realize that .30 cent moves with .10 of risk where the same thing and in many cases had less volatility and fewer eyeballs watching it. In other words, cleaner moves! AAPL is one of the most widely watched tickers on the planet! Just trying to get you to see things differently.
Interesting note here, the weekly A up for CL is 100.09. That $100 area is a big level obviously. I have to point out to be very careful when A levels are at highly watched areas. They will be very messy.
AAPL below monthly A down. Turn on the confirmation timer.
Let me preface by saying I really respect Apple Inc, the company, and their ecosystem is second to none.
Woz is supposed to be on the Halftime Report. I think for the first time in a while we have a confidence issue in AAPL. Some noted longs are selling, or have sold already. I'm a tech nut, and I've been buying Samsung products for a few years now. I wasn't surprised to see that they overtook AAPL in cell phones recently.
I think the main issue AAPL has here is their market. We forget, but the average Joe can't really afford their products, so AAPL's market is the top earners in the country, and they can poach a certain percentage of the middle class as well. Once that percentage of the middle is poached, they're no longer buyers. This percentage I'm talking about isn't upgrading their hardware every 6 months the way the top earners are. So you have a new iPad every few months, but that percentage of the middle bought version 1, and isn't planning a new purchase now, (or maybe ever).
Just my two cents worth as an IT professional.