chinacat
Moderator
AAPL Long since 2006
Posts: 4,433
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Post by chinacat on Oct 1, 2022 6:15:58 GMT -8
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Post by CdnPhoto on Oct 1, 2022 7:28:05 GMT -8
I'm glad that week is now over. What an awful week.
I really hope we've seen the bottom. RSI is in the oversold range, so we could see a turn around. Turns out, we really should have sold when that guy was saying sell all your AAPL. (he's now saying buy AAPL). The RSI was over 70, indicating overbought.
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,148
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Post by Dave on Oct 1, 2022 8:36:35 GMT -8
I'm glad that week is now over. What an awful week. I really hope we've seen the bottom. RSI is in the oversold range, so we could see a turn around. Turns out, we really should have sold when that guy was saying sell all your AAPL. (he's now saying buy AAPL). The RSI was over 70, indicating overbought. Which guy was that? Was it a poster here? Inquiring minds want to know. Would’a, should’a, could’a. My life’s story.
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,148
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Post by Dave on Oct 1, 2022 8:58:49 GMT -8
From Chinacat’s link above: Apple analysts are confusedAn interesting discussion in the comments section. I like the idea of “Pie in the sky” as much as the next guy, but the reality is that the world is a mess, a power vacuum that is trying to be filled and is generating a huge amount of uncertainty. If Apple guides well and proves the analyst wrong about the iPhone numbers and the stock gets a temporary bump from this bottom (if this is the bottom) how much of a bump will it likely be? 10% maybe?
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Post by CdnPhoto on Oct 1, 2022 15:10:11 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,148
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Post by Dave on Oct 2, 2022 0:45:27 GMT -8
Thank you Cdnphoto, I had overlooked/forgotten about that story. It’s easy to see from that chart the downward channel that aapl is stuck in.
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Post by CdnPhoto on Oct 2, 2022 3:55:22 GMT -8
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4aapl
Moderator
Posts: 3,678
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Post by 4aapl on Oct 2, 2022 7:58:39 GMT -8
His thesis was that AAPL's recovery was too much, too quickly, especially in comparison to the overall market. I think that's the main takeaway. There are times where AAPL diverges from the market, but when it goes so greatly, that is a time to watch out. In 2000 AAPL lead the others down, but I remember a time in I believe January of 2007 where we were routing for AAPL, but the market was going to heck. And then AAPL took a hit too, while we were big on bullish options. Ouch! And that was just the first hit of 2007. This year we have had 3 chances to sell AAPL in the 170's, after the initial decline down from the ATH. But it is easy to latch on to a 180-210 price, and see these recoveries into the 170's as the stepping stone to that price level. In doing so, it's easy to get happy or even giddy on a recovery to 170, instead of trimming a little while knowing it is likely we will be in this funk for a while. Hindsight is 20-20. It's easy to pick the winning lotto numbers today for yesterday's drawing. And with the analysts bullish and bearish predictions, it's easy to look back and only pick out the winning choices. But like the "don't fight the Fed" general statement, one of "don't fight the market" could be useful too. This is where we are now. The question is where are things likely to go, how is Apple and AAPL looking, and is it worth taking on some extra risk to potentially make some extra money, or do we just sit on our hands and wait out the storm? -8.13% in a week. Ouch! No wonder things feel bad.
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,148
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Post by Dave on Oct 2, 2022 13:16:52 GMT -8
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Post by hledgard on Oct 2, 2022 18:27:31 GMT -8
I just have never believed in Cramer. His program is good, but I view him as a good showman. He is good asset to promote interest in the market, and I like him.
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