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Post by fas550 on Nov 2, 2012 11:59:17 GMT -8
Well if the last piece in the capitulation puzzle is volume we've either just had it starting about 1:30pm today or if not Monday is the day. The morning was low on volume but this afternoon certainly made up for it.
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Post by miguelfoogo on Nov 2, 2012 12:00:55 GMT -8
And that week is over
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Mav
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Post by Mav on Nov 2, 2012 12:00:55 GMT -8
Big volume near the end. Someone noticed, considering the micro-reversal just before market close.
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Post by prazan on Nov 2, 2012 12:02:05 GMT -8
I keep buying the f*cking dip and then it f*cking dips some more!
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Post by Red Shirted Ensign on Nov 2, 2012 12:02:16 GMT -8
Big volume near the end. Someone noticed, considering the micro-reversal just before market close. It was the shorts closing positions they had held right to end of day, and which did very well for them. They don't want or need to hold over the weekend.
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Post by CdnPhoto on Nov 2, 2012 12:02:35 GMT -8
It's over for now.
That was very painful. I hope we didn't lose anyone in that battle.
Have a great long weekend. (Most of North America gets an extra hour this weekend)
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Post by darrenhd on Nov 2, 2012 12:02:42 GMT -8
Well if the last piece in the capitulation puzzle is volume we've either just had it starting about 1:30pm today or if not Monday is the day. The morning was low on volume but this afternoon certainly made up for it. Yes volume accelerated but was still only 21 million shares according to what QuoteTracker is telling me. I'd love to see a 30+ million share (or even 40)...I don't think 21 is enough, but certainly at some point there will be a sharp reversal and huge volume spike and it's next to impossible to predict when that will happen. You can put in a few fishing bids very low and see if any bite. Maybe you'll get lucky
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Post by lovemyipad on Nov 2, 2012 12:03:55 GMT -8
I keep buying the f*cking dip and then it f*cking dips some more! Yep, thought of you week ago when I said every quarter there's a dip that keeps dipping, and this is that dip.
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Mav
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Post by Mav on Nov 2, 2012 12:04:21 GMT -8
Maybe, maybe not, Red. I've seen down days where AAPL just kept tanking.
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Post by Mav on Nov 2, 2012 12:05:06 GMT -8
iPad, with a selloff this extended and this severe, does one necessarily _need_ a "traditional" capitulation event, whatever that heck that means?
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Post by lovemyipad on Nov 2, 2012 12:05:29 GMT -8
Okay, IMHO, it's over. April/May correction was 27 bars. So is this one. That one was Friday. Voila, here we are. Insert all the usual disclaimers about past doesn't predict future, blah, blah, blah... We bottomed. IMHO. WAG. etc. etc. etc.
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Post by lovemyipad on Nov 2, 2012 12:06:33 GMT -8
iPad, with a selloff this extended and this severe, does one necessarily _need_ a "traditional" capitulation event, whatever that heck that means? We're done. Bears get a giant green candle up their posteriors on Monday. IMHO/WAG/etc.
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Post by aaplexcelsior on Nov 2, 2012 12:07:44 GMT -8
I don't remember--what happened in May, the day it hit bottom, and what triggered the huge rally the next day?
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Post by Mav on Nov 2, 2012 12:08:38 GMT -8
I'm looking to buy (a more conservative bet) on Monday. I agree with iPad (if we're wrong, we're wrong) that this selloff is well into the same WTF territory that we saw earlier in May.
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Post by fas550 on Nov 2, 2012 12:08:55 GMT -8
Okay, IMHO, it's over. April/May correction was 27 bars. So is this one. That one was Friday. Voila, here we are. Insert all the usual disclaimers about past doesn't predict future, blah, blah, blah... We bottomed. IMHO. WAG. etc. etc. etc. Ah thank you I feel better now:-). Well truthfully I do feel better because I know if it isn't over today it will probably/hopefully/wishfully/technically/fundamentally be over Monday.
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Post by appledoc on Nov 2, 2012 12:11:27 GMT -8
I don't remember--what happened in May, the day it hit bottom, and what triggered the huge rally the next day? We rallied intraday. It hit 522 and immediately jumped back up to 528/529. We closed the day at 530.38. On Monday we opened at 534.50 and closed at 561.28.
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Post by appledoc on Nov 2, 2012 12:13:29 GMT -8
Our LOD was 574.75 corresponding to a P/C of 4.49.
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Post by cambrose on Nov 2, 2012 12:14:01 GMT -8
Great day to get my concentration limit raised
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Post by aaplexcelsior on Nov 2, 2012 12:15:26 GMT -8
I don't remember--what happened in May, the day it hit bottom, and what triggered the huge rally the next day? We rallied intraday. It hit 522 and immediately jumped back up to 528/529. We closed the day at 530.38. On Monday we opened at 534.50 and closed at 561.28. So it started the day up (chart says it hit 540), then down to 522, and then partially back up? How did folks explain the $26 rise on Monday? Was there any kind of news or something to pin it on?
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Post by darrenhd on Nov 2, 2012 12:16:45 GMT -8
I don't remember--what happened in May, the day it hit bottom, and what triggered the huge rally the next day? We rallied intraday. It hit 522 and immediately jumped back up to 528/529. We closed the day at 530.38. On Monday we opened at 534.50 and closed at 561.28. I would love for one of those days on Monday where we open, gap down, then pivot and bounce up and stay up to the close. And follow through the next day with another green finish.
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Post by macwire on Nov 2, 2012 12:17:00 GMT -8
Out of powder. Good luck people's.
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Post by appledoc on Nov 2, 2012 12:18:05 GMT -8
We rallied intraday. It hit 522 and immediately jumped back up to 528/529. We closed the day at 530.38. On Monday we opened at 534.50 and closed at 561.28. So it started the day up (chart says it hit 540), then down to 522, and then partially back up? How did folks explain the $26 rise on Monday? Was there any kind of news or something to pin it on? Yes to your first question. As for your second, I don't remember there being any news. It was definitely a WTFFFFFFF time for all of us.
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Post by applemuncher on Nov 2, 2012 12:18:14 GMT -8
Looking for a bounce on Monday. It's oversold.
The following transaction has been completed on 11/2/2012 3:59:03 PM (ET): Account Number: xxxx-xxxx Order Number: Symbol: AAPL NovWk2 580 Call Description: Apple Inc Stock: AAPL at 576.98 Action: Bought To Open Quantity: 15 contract(s) Price: $7.40 Commission: $22.50 Reg Fees: $0.40 Net Amt: $11,122.90 Thank you for trading with optionsXpress. We appreciate your business.
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Post by rutgersguy92 on Nov 2, 2012 12:19:16 GMT -8
Well....I can completely relate...I quit checking my account last week...looked like a 10 yr old opened up on my monitor with a red paintball handgun.....it's set...it is what it is...earliest expirations are April '13....so now we sit back and wait for sanity to return... Exactly. I used to check it daily back in the good 'ol days (September 2012). I haven't checked it in two weeks. Same here. Not since we hit 650 two weeks ago.
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Post by appledoc on Nov 2, 2012 12:19:51 GMT -8
Andy is calling for a big up day Monday or Tuesday. I know he's been premature in calling the bottom, but I feel there's a lot of technical, historical and fundamental evidence for this being the end of our crappy run.
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Post by hellojapan on Nov 2, 2012 12:20:26 GMT -8
Do you think the Rochdale Securites news might have contributed to that last $10 push down?
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Post by hellojapan on Nov 2, 2012 12:23:01 GMT -8
Someone at Rochdale Securites bought a million shares of Apple around earnings when they meant to buy a million dollars worth of Apple and now Rochdale needs a lifeline. I don't know if that has anything to do with anything but it seems like we had an additional push down after this news became public. They are calling it a "rouge trader" in some articles but I do not believe that to be an accurate characterization.
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Post by lovemyipad on Nov 2, 2012 12:24:52 GMT -8
I don't remember--what happened in May, the day it hit bottom, and what triggered the huge rally the next day? The sheer amount of down-ness, the duration of the down, etc. etc. The pendulum can only swing so far in one direction before it goes back the other way.
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Post by rutgersguy92 on Nov 2, 2012 12:26:44 GMT -8
Yes, Jon Fortt has been a real jackass today (I was following him on Twitter, not anymore). Anyone reporting on line length as a metric with Apple's shift to online pre-orders deserves to be punched in his nether region. I quit following him last week. After following him for a while to get a proper opinion of his abilities, he's earned his status with me as officially an unqualified hack, which is soooo typical of CNBC's reporters. I think Fortt may have been told by his management that he appeared to be too favorable with AAPL, and this didn't fit in with the CNBC culture. He used to be very friendly with AAPL. Speaking of that, is anybody watching the tweets from Andy Zaky. Either someone has hacked into his "@bullishcross" tweet handle, or he has totally lost it.
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Post by archibaldtuttle on Nov 2, 2012 12:28:13 GMT -8
Where's the weekend support group? I was buying starting at 660 and 100% all-in at 600 and I'm gonna feel sick all weekend. Blech. My plan is not to think about or look at my account balances until the bounce takes us back over 600.
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