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Post by rutgersguy92 on Oct 9, 2012 6:41:19 GMT -8
Man, I thought for sure we were going to hit the lower Bollinger Band on the daily chart, which was 632 yesterday. The thing moved on me, and is now 623ish.
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Post by rob_london on Oct 9, 2012 7:09:23 GMT -8
Redler just tweeted that he went long at $625-ish.
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Post by phoebear611 on Oct 9, 2012 7:39:32 GMT -8
Redler just tweeted that he went long at $625-ish. Fitzstock2004 who has been pretty spot on is telling his followers to go long at 625 because the rest of the world is waiting for 620
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Post by mbeauch on Oct 9, 2012 7:56:35 GMT -8
Man, I thought for sure we were going to hit the lower Bollinger Band on the daily chart, which was 632 yesterday. The thing moved on me, and is now 623ish. RG, the BB's are moving targets and the way it was pointing down yesterday it was only going to continue down at a dramatic downward slope. The is a little bit of good news out of the BB's, they are expanding to the upside and now reside over 716. Gives us hope anyway. man I hope we can get to a squeeze position and this is not just the shorts taking a breather.
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Post by mbeauch on Oct 9, 2012 7:57:39 GMT -8
Redler just tweeted that he went long at $625-ish. Fitzstock2004 who has been pretty spot on is telling his followers to go long at 625 because the rest of the world is waiting for 620 That old crowded trade thing. Hey, I thought I saw 630 for just a second.
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Post by terps530 on Oct 9, 2012 7:59:33 GMT -8
Fitzstock2004 who has been pretty spot on is telling his followers to go long at 625 because the rest of the world is waiting for 620 thats pretty funny but i agree with that stuff a lot. I'd rather get in a bit higher possibly, vs trying to chase if 625 was bottom. also i need to start reading this more. awesome posts guys. I'm really starting to get into technicals more after some books I've been reading, and it's great to see them in action here. thanks
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Post by lovemyipad on Oct 9, 2012 8:26:32 GMT -8
IT HIT MAV'S TRENDLINE!! TRENDLINES = CLASSIC TA
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Post by prazan on Oct 9, 2012 9:21:58 GMT -8
Fitzstock2004 who has been pretty spot on is telling his followers to go long at 625 because the rest of the world is waiting for 620 thats pretty funny but i agree with that stuff a lot. I'd rather get in a bit higher possibly, vs trying to chase if 625 was bottom. also i need to start reading this more. awesome posts guys. I'm really starting to get into technicals more after some books I've been reading, and it's great to see them in action here. thanks I followed the same idea this morning. I wasn't at my computer when it hit the low of the day, then set a limit order at 625, which I converted to a market order when, while watching the price rise to 628 with some momentum, I saw how low the RSI was. That said, I've set a stop above my buy in price in the event this rebound doesn't hold.
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Post by rutgersguy92 on Oct 9, 2012 10:30:28 GMT -8
640, baby!
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Mav
Member
[img style="max-width:100%;" alt=" " src="http://www.forumup.it/images/smiles/simo.gif"]
Posts: 10,784
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Post by Mav on Oct 9, 2012 10:32:51 GMT -8
IT HIT MAV'S TRENDLINE!! TRENDLINES = CLASSIC TA Woohoo!Also, OMG WHY DIDN'T I BUY ALL-IN WEEKLIES
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Post by prazan on Oct 9, 2012 10:48:06 GMT -8
IT HIT MAV'S TRENDLINE!! TRENDLINES = CLASSIC TA Woohoo!Also, OMG WHY DIDN'T I BUY ALL-IN WEEKLIES I did, Mav, thanks to your chart! I'm off to buy Maui! Thanks! (joke)
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Post by lovemyipad on Oct 9, 2012 11:19:38 GMT -8
LOL, P!!!
Everyone: I bought OCT'12 610/620 bear put spreads for cheap insurance. $250 for $750 of coverage. I don't like the divergence on AAPL (see 5 min) and the action on the indices. We *could* have a retest... Was hoping for higher before any retest, but now not so sure about that...
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Post by PikesPique on Oct 9, 2012 11:27:37 GMT -8
Everyone: I bought OCT'12 610/620 bear put spreads for cheap insurance. $250 for $750 of coverage. I don't like the divergence on AAPL (see 5 min) and the action on the indices. We *could* have a retest... Was hoping for higher before any retest, but now not so sure about that... Thanks for the heads up on that in the intraday. I got the same 610/620 bear put spread @ 1.10 (8 out of 10 contracts filled, so far).
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Post by lovemyipad on Oct 9, 2012 11:31:11 GMT -8
PikesPique, I am so, SO relieved to hear you hedged!! And wow, was that the price for the OCT'12 monthlies?? If so, NICELY DONE!!
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Post by PikesPique on Oct 9, 2012 11:33:14 GMT -8
No, sorry, just this week. I should have also done the monthly. Or instead of. I guess since this week ends on the 12th, I got confused. Won't be the last time. Oh well...
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Post by PikesPique on Oct 9, 2012 11:50:48 GMT -8
So, 634-ish is the 38.2% retracement of the run from LOD to HOD, right? Looks like that may hold into the close. Seems to be support there over the last half hour.
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Mav
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Post by Mav on Oct 9, 2012 11:56:24 GMT -8
We're OK into the close. Will continue to monitor at mkt open etc.
Buy the Dip Stage 1 felt about right. Not too small, not too aggressive (by my Evel Kneivel standards)
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Post by terps530 on Oct 9, 2012 12:02:37 GMT -8
I see a...
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Post by rutgersguy92 on Oct 9, 2012 12:15:45 GMT -8
Please elaborate.
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Post by lovemyipad on Oct 9, 2012 12:20:28 GMT -8
terps: GOLD STAR!!!!!!!!
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Post by lovemyipad on Oct 9, 2012 12:24:12 GMT -8
RG, go here: HammerIt's like Red Dog Reversal but not as decisive. The candle has a spiky bottom, indicating buyers reclaimed some of TODAY's lost ground. But RDR would actually reclaim some of YESTERDAY's lost ground.
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Post by rutgersguy92 on Oct 9, 2012 12:26:52 GMT -8
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Post by lovemyipad on Oct 9, 2012 13:35:33 GMT -8
AAPL TWO-DAY CHART (with my notes):
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Post by mbeauch on Oct 9, 2012 13:38:07 GMT -8
RG, it's like Red Dog Reversal but not as decisive. The candle has a spiky bottom, indicating buyers reclaimed some of TODAY's lost ground. But RDR would actually reclaim some of YESTERDAY's lost ground. We got the hammer, just not the sledgehammer I was hoping for. A green close would have made me feel a lot better, but all in all, long spikes on the bottom are welcome. Not much difference than the inverted spike I talked about Friday for the S&P. Here is what I need to see to feel better, we need to get over today's high tomorrow and hold it. Don't really care where we open. (Relatively speaking : Lovey, I am having Deja vu all over again talking about follow through.
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Post by lovemyipad on Oct 9, 2012 13:40:41 GMT -8
(...)Lovey, I am having Deja vu all over again talking about follow through. You and me both. See my notes on the 2-Day Chart. Another possibly good thing about today's candle...compare to post-JUL'12 earnings...we kinda hung out there on Mav's trendline for three days. So possibly, we could revisit LOD once more and rally 30-50+ points from there?
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Post by rutgersguy92 on Oct 9, 2012 15:38:57 GMT -8
RG, go here: HammerIt's like Red Dog Reversal but not as decisive. The candle has a spiky bottom, indicating buyers reclaimed some of TODAY's lost ground. But RDR would actually reclaim some of YESTERDAY's lost ground. Thank you.
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Mav
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Post by Mav on Oct 9, 2012 15:43:22 GMT -8
Any trendline is only instructive until it's broken. Which is why I would've preferred greater confluence between the trendline and SMA-100, which still had a few days to go to get to the trendline level Hey, at least the AAPL juicing stopped on monster relative strength. If we don't gap down, I'll have a mental stop to hedge or take very small profits at around AAPL 633-34 if AAPL doesn't show power tomorrow.
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Post by lovemyipad on Oct 9, 2012 15:56:32 GMT -8
Any trendline is only instructive until it's broken. (...) No, Mav, not all trendlines are created equal. With this one, because it's intermediate-term, stretching back months, the awesome-ness of your trendline lives on. The parallel lines that make the "channels" are still applicable... and likely will be into next year!! Also, a *strong* trendline like this one (connects at least three tops/bottoms), once broken, is usually retested.
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Post by ccs on Oct 9, 2012 17:17:27 GMT -8
I can't seem to locate Mav's super awesome trendline chart? Can someone repost for quicker easier reference. Thanks
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Post by lovemyipad on Oct 9, 2012 17:22:50 GMT -8
AAPL TWO-DAY CHART with MAV'S SUPER-AWESOME TRENDLINE:
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