1)
If your a trader that buys trending stocks on weakness your not even
looking at AAPL for entry here. AAPL can go to the moon but oh well.... wait.
Im waiting for weakness to sell some and will give back some too see.
Im waiting.
2)
If you a breakout trader then wait till it breaks out. It may move or fail ...... who knows.
3)
If what your really trying to do is figure out before hand which direction it will go then
look to the fortune tellers on some other threads.
I like your contrary thinking Mike..... but if I go where you suggest ie: designing system2 based
on failiures of system1 (a very old concept) it aint good.....
Much better to keep it very simple for me and buy AAPL's on pullbacks in a bull market.
It is STILL a bull market. long and stong(Alf44) months ago is still right untill proven otherwise.
AAPL has bailed me out of trading mistakes because it has simply been on the right
side of big money... Ive learned that I am not as good or bad at trading as I think. Knowing
that I just try to go with the big money. GS has me thinking along those line right now.
But.... all this chicken soup talk does not gaurentee for a second that I or anyone will make
money because as we alll know..... it aint that easy Good luck.
Fortyfour,one of the reasons I picked AAPL is that it's a market leader,second being it's a widely owned stock.In my opinion,just from looking at the chart,it looks very overbought.Directional bias,I have none.We'll leave that one up to the fortune tellers like you said.I'll have a better idea of where I'm going to position myself when I get a few more opinions.10 would give me a good basis.I'll let you know what I'm up to in a few days,but I think you have some kind of idea of where I'm going with this.Also,I like your thinking about big money.GS controls the market.Good luck with your position.Mike....
Looks overbought to me too. Tough to short a stock that is so fundamentally strong. But, I think there has been nothing but good news and hype lately helping to drive up the price.
One indicator I always consider is the Full Stochastics (9,5,3). If you take a look at that, its rolling over on a short term basis and looks to be heading down (at least in the intermediate term.)
I keep thinking the broad markets are going to roll over sometime soon, which may put pressure on these types of stocks - but I've been thinking that for a long time.
I posted an up and down volume filter about 10 days ago which tries to separate up and down volume for any given stock (since we can't get this data directly), and use them to create moving averages for comparison. As of the close yesterday, AAPL is trading with more down volume than up.
My opinion is that it has turned down for the short term.
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