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Post by lovemyipad on Apr 7, 2013 18:46:42 GMT -8
It will be interesting to see if apple gets pushed below its 52 week low before market opens causing limit sell orders to trigger. N, my WAG is oversold bounce -- maybe 20 points -- so everyone thinks the bottom's in...until it isn't...again.
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Post by appledoc on Apr 7, 2013 18:48:28 GMT -8
There's still significant downside risk IMO. Better to wait for solid confirmation of a move up than try to get in so close to the bottom.
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Mav
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Post by Mav on Apr 7, 2013 18:57:05 GMT -8
20 points proof of bottom? No way.
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Post by Deleted on Apr 7, 2013 19:08:34 GMT -8
There's still significant downside risk IMO. Better to wait for solid confirmation of a move up than try to get in so close to the bottom. "Significant downside?" Apple is trading at a 9 P/E and has 140B in cash. Come on man, what is your basis for that?
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Post by sponge on Apr 7, 2013 19:08:44 GMT -8
20 points proof of bottom? No way. I agree
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Post by Deleted on Apr 7, 2013 19:11:22 GMT -8
20 points proof of bottom? No way. Yeah, I've seen this movie before. I think between all the Trader/TA types waiting for a 3 handle and the influence of options interest, anything is possible, but I cannot tell you how irritating that these dynamics are in play, pricing the stock at a P/E in single digits. It's ridiculous.
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mark
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Post by mark on Apr 7, 2013 19:33:57 GMT -8
There's still significant downside risk IMO. Better to wait for solid confirmation of a move up than try to get in so close to the bottom. How much downside risk do you think there is? 20? 50? 100?
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Post by lovemyipad on Apr 7, 2013 19:39:26 GMT -8
"Significant downside?" Apple is trading at a 9 P/E and has 140B in cash. Come on man, what is your basis for that? We've been saying similar things for the past 200 points. Until we can escape the clutches of this downtrend, I just assume it isn't over. I figure this way, I'll only be wrong once more (versus all the times I prematurely thought we'd bottomed) -- at the Real bottom. There's still significant downside risk IMO. Better to wait for solid confirmation of a move up than try to get in so close to the bottom. How much downside risk do you think there is? 20? 50? 100? WAG: not more than 50. But I'm just taking it level by level and measuring the commitment and follow-through of buyers / sellers. 20 points proof of bottom? No way. I agree Yeah, right, Spongie! If we go up 20 points in two days, you'll be the first one saying the bottom's in!
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Mav
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Post by Mav on Apr 7, 2013 19:45:39 GMT -8
Mercel, iPad is a hardened trader. Won't admit it tho. It's risk/reward. It always is. IF 500 Jan 14, THEN buy now would work. Active traders have little tolerance for pain and try to time things, I dunno, more timely. They don't think that far ahead. They insist on seeing patterns unfold to levels.
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Mav
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Post by Mav on Apr 7, 2013 20:13:34 GMT -8
Also, we're just waiting on a Stabilizing Event. When it occurs, we'll know, and we'll have chances to get back on the train, I'm quite sure.
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Post by mace on Apr 7, 2013 23:08:14 GMT -8
When it occurs, we'll know, and we'll have chances to get back on the train, I'm quite sure. Obviously, EW said there is always wave two which can retrace nearly 100% of wave one. Even if in wave three, there is always sub-wave two, right? In TW, is called basing or double bottoms or triple bottoms.
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