I wrote a post on 11-17-12 as to what I think AAPL will do. Ultimately, you need to respond to price action. But a lot of people have picked up on inverted H&S now and feel in the near future we will bounce. Usually negative = up. And on the day I enter long I want to see AAPL red, the media/analysts telling everyone AAPL is done, and down 20 or points. BUY THE FEAR! (a trade for at least a couple of days anyway). A perfect entry would be around 460-475ish area - red line (lower trendline connecting multiple points on a monthly chart)
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Sunday, December 16, 2012
12-16-12 Banks
Banks look ok here (STT, BAC, JPM)
Inverted head and shoulder on wkly with consolidation on last 3 weeks. On the down week there was buying. Index (XLF) could possibly see 18ish.
Inverted head and shoulder on wkly with consolidation on last 3 weeks. On the down week there was buying. Index (XLF) could possibly see 18ish.
Wednesday, December 5, 2012
Tuesday, November 27, 2012
11-26-12
also have FXI at 36.58 which I forgot to post I think
On the watchlist:
ABC
AWK
SSYS
WX
GNRC
CHS
DKS
FCFS
FNGN
SRPT
DISH
WMT
FDO
SHF (VERY THIN)
TRGP
VSI
SXC (IF ENERGY/METALS GO - GREAT LOOKING CHART)SUP
ASNA
CSGP
ILMN
MED
NDSN
TFM
ASGN
VRX
CYT
CRM
Monday, November 19, 2012
11-19-12
Pretty much neutral on OB/OS conditions.
Saturday, November 17, 2012
11-17-12
Ideally, I would like to see the stock around 465 (lower trend line) before entering, but took a position on Friday. If it doesn't work out I don't care. It is all about risk and reward.
The overall market is extremely oversold and this leader has gotten hit hard as evidenced above with 8 weeks of selling. At some point the shorts have to cover producing buy orders (profit taking) allowing the stock to go higher. Typically when we are extremely oversold we get at least two days of buying in the general market. We saw one day on Friday. See what happened last time it touched support (white line) in May/June 2012. Apple had some buying on Friday with 60% more volume. Is this the start of something? See below (last green bar).
Taken into account:
1. Extremely oversold conditions (market and this stock)
2. Apple at prior support (white line)
3. Shorts covering and volume from Friday
4. Possible X-mas rally
At the end of the day this is my opinion. It is very possible I am wrong which is why I'll be watching the price and volume action. Start looking for the next wave of leaders. Happy Trading.
Friday, November 16, 2012
Wednesday, November 14, 2012
Thursday, November 8, 2012
Wednesday, November 7, 2012
Tuesday, November 6, 2012
Monday, November 5, 2012
Friday, November 2, 2012
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