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Post by alice on Nov 5, 2012 19:55:53 GMT -8
Is there a gap at $576 now? Thanks. No gap issue. Problem for me is that there has not been a reversal day. We had one last Wednesday, but it turned out to be worthless as far as finding support. Today was very weak IMO. Especially when the market turned around. Remember, AAPL was up when the market was down this morning. Holding on for dear life, and I am still very nervous. No gap is good news. I feel the same way as well.
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Mav
Member
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Posts: 10,784
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Post by Mav on Nov 5, 2012 20:30:42 GMT -8
So we need a move to above 591 (200-day) in next day or so. Hate to think about what happens if we don't capture the 200-day. IMHO, reading too much into Redler's read. He only said that typically, "fake outs" to the downside (resulting in reclaiming/holding of the 200-day) resolve within 3 days or so. That's all he said. Today AAPL stabilized and established clear points of reference. So for the short term I'll just go from there. The way I see it technicals alone are not enough right now. We are in a high uncertainty time for the markets. To expect them to act in a "normal" way is asking a lot. AAPL is kind of weak but you can't assume the lack of tremendous UP as an impending sign of tremendous DOWN. Of course, the high uncertainty may cause me to take some risk off the table and maybe put on a hedge tomorrow, but we'll see what we get.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Nov 5, 2012 23:55:39 GMT -8
Thank God we have a Tuesday thread spawned. Any more TA gobbledegook and I might just get cranky and impolitic.
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