Dave
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"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 2:00:59 GMT -8
Good morning. Hopefully everyone had an enjoyable holiday and are ready to make a few dollars or not. Pre-market is down -$3.96 at this moment. Buckle up, this may be a rough ride. What to Expect in the Markets This Week
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 2:09:06 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 2:23:55 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 2:35:41 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 4:18:24 GMT -8
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Sept 8, 2020 5:51:44 GMT -8
Looks like AAPL and the markets did need another day to digest and react to everything.
Wow! If AAPL or the market has you down, take a gander at TSLA.
Jet Blue and Southwest are up a tiny bit, maybe because oil is down. But just about everything is doing bad today. Unless substantiated, this should help crash out everything. 3 days is often the norm, and $4B isn't much even in options when spread over multiple companies, strikes, and expirations. It sounds like a scapegoat to me, but the media loves to latch on to a story that readers enjoy, and in a time of rad that is pointing the finger.
Careful out there! Don't let a psychology spike drive the bus.
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mark
fire starter
Posts: 1,552
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Post by mark on Sept 8, 2020 5:59:05 GMT -8
Looks like AAPL and the markets did need another day to digest and react to everything. Wow! If AAPL or the market has you down, take a gander at TSLA. Jet Blue and Southwest are up a tiny bit, maybe because oil is down. I would guess that lower infection rates and vaccine hopes drive airlines more than a few bucks in oil does nowadays. I have to wonder if they (SoftBank and the others who joined that bandwagon) sold those options yet. I suspect they may have, and the spike in volume caused the bids to drop, which caused the stock to drop. Then as usual, the story hit the wires, and everyone else (who never even look at options) started getting worried. It all depends on what day you start from! 😅
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Post by wildguess on Sept 8, 2020 7:18:46 GMT -8
Apple event is September 15
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Sept 8, 2020 8:10:08 GMT -8
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Post by rmhe1999 on Sept 8, 2020 10:31:56 GMT -8
I'll note that the Apple technical thread on this board has been dead since 2014 so I'll throw some very basic insight here. I'll be rounding numbers so please bear with me.
For context, AAPL is trading around $115 & change. A full 20% correction from the high would be around $110. In looking at the daily chart, the 50-day SMA sits at around $107. The RSI is sitting at a 47ish, just barely indicating an oversold status. My take: AAPL has further to fall. Those of us who are long have seen quite a few 30%+ corrections as well as RSI's down in the low 30s. Historically speaking, buying at those extreme-oversold levels has proved profitable. I'll also note that the low end of the Bollinger Bands also happens to be around the $107 range. So if you're looking to open a new position to add shares, look to the $107/$108 area for some moderate risk taking. If we blow through all support levels then the old adage is true: Don't try to catch a falling knife.
As always, do your own due diligence. I know there are many others on this board who fully subscribe to TA. Personally, I don't think it can predict the future but it does offer some insight as to when to initiate some new share positions. Please feel free to chime in with other observations.
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Sept 8, 2020 11:23:23 GMT -8
I'll note that the Apple technical thread on this board has been dead since 2014 so I'll throw some very basic insight here. I'll be rounding numbers so please bear with me. For context, AAPL is trading around $115 & change. A full 20% correction from the high would be around $110. In looking at the daily chart, the 50-day SMA sits at around $107. The RSI is sitting at a 47ish, just barely indicating an oversold status. My take: AAPL has further to fall. Those of us who are long have seen quite a few 30%+ corrections as well as RSI's down in the low 30s. Historically speaking, buying at those extreme-oversold levels has proved profitable. I'll also note that the low end of the Bollinger Bands also happens to be around the $107 range. So if you're looking to open a new position to add shares, look to the $107/$108 area for some moderate risk taking. If we blow through all support levels then the old added is true: Don't try to catch a falling knife. As always, do your own due diligence. I know there are many others on this board who fully subscribe to TA. Personally, I don't think it can predict the future but it does offer some insight as to when to initiate some new share positions. Please feel free to chime in with other observations. It has been since the start of April since AAPL's RSI touched 40. It's time to retrace a little, even if iPhone exuberance seems imminent. Like MWSF run-ups, while it is a consistent trend, it's not the law. We'll see. AAPL has an extra down day under it's belt, if one still considers Friday a down day though it ended flat. The rest of the market needs to retrace too, and it seems about time for a near-10% retracement whereas earlier the S&P was only down 6% from the peak a few days ago.
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 11:54:37 GMT -8
I'll note that the Apple technical thread on this board has been dead since 2014 so I'll throw some very basic insight here. I'll be rounding numbers so please bear with me. For context, AAPL is trading around $115 & change. A full 20% correction from the high would be around $110. In looking at the daily chart, the 50-day SMA sits at around $107. The RSI is sitting at a 47ish, just barely indicating an oversold status. My take: AAPL has further to fall. Those of us who are long have seen quite a few 30%+ corrections as well as RSI's down in the low 30s. Historically speaking, buying at those extreme-oversold levels has proved profitable. I'll also note that the low end of the Bollinger Bands also happens to be around the $107 range. So if you're looking to open a new position to add shares, look to the $107/$108 area for some moderate risk taking. If we blow through all support levels then the old adage is true: Don't try to catch a falling knife. As always, do your own due diligence. I know there are many others on this board who fully subscribe to TA. Personally, I don't think it can predict the future but it does offer some insight as to when to initiate some new share positions. Please feel free to chime in with other observations. And there's a large gap from the end of July that runs from the low $90's to about $101, and then the following day from about $107. Maybe yes, maybe no.
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Post by archibaldtuttle on Sept 8, 2020 11:58:38 GMT -8
I think this is what technical traders call an enormous dump.
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 12:05:40 GMT -8
Aug 24, 2020 at 8:02am tonitheboz said:
Tonitheboz, if your out there tell us if you've already bought back in and if you haven't this may be a great time.
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Post by zebrum on Sept 8, 2020 12:08:16 GMT -8
Those that predicated Apple correcting -20% and Tesla -40% were right!
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Post by archibaldtuttle on Sept 8, 2020 12:15:53 GMT -8
Those that predicated Apple correcting -20% and Tesla -40% were right! -20% in 4 trading days!
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,089
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Post by Dave on Sept 8, 2020 12:18:47 GMT -8
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Sept 8, 2020 12:28:26 GMT -8
So day 3 of buy high, sell low. A lot of dumb bunnies are going to be sorry when this stock reclaims its ATH.
Oh, and have I mentioned how much I hate CNBC?
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Post by nwjade on Sept 8, 2020 12:44:06 GMT -8
So day 3 of buy high, sell low. A lot of dumb bunnies are going to be sorry when this stock reclaims its ATH. Oh, and have I mentioned how much I hate CNBC? I feel like a dumb bunny for not selling at the high and buying low (now) which amounts to a couple of mil plus when the ATH is reclaimed...
Been through this movie so many times but pulling the trigger and selling even when things are frothy is damn hard for fear of mistiming it.
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Post by tonitheboz on Sept 8, 2020 13:45:31 GMT -8
Aug 24, 2020 at 8:02am tonitheboz said: Tonitheboz, if your out there tell us if you've already bought back in and if you haven't this may be a great time.
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Post by tonitheboz on Sept 8, 2020 13:53:02 GMT -8
Aug 24, 2020 at 8:02am tonitheboz said: Tonitheboz, if your out there tell us if you've already bought back in and if you haven't this may be a great time. Actually I’ m 100% in Rds.as ( damn it) -25% since the original investment I follow very very close and hope the ratio rds.as vs will improve in the next future The oil sector right now is very very depressed hope it will improve to avoid a large loss and than switch to where I feel more confident
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SomeJuan
Member
Taking a nap…
Posts: 321
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Post by SomeJuan on Sept 8, 2020 18:57:57 GMT -8
Actually I’ m 100% in Rds.as ( damn it) -25% since the original investment I follow very very close and hope the ratio rds.as vs will improve in the next future The oil sector right now is very very depressed hope it will improve to avoid a large loss and than switch to where I feel more confident Chutzpah indeed.
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mark
fire starter
Posts: 1,552
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Post by mark on Sept 8, 2020 19:23:12 GMT -8
I think it's pretty obvious what new and exciting product will be introduced next week.
"Time flies" ... it's got to be the new Apple Drone Watch ... an Apple watch that can fly!
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4aapl
Moderator
Posts: 3,622
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Post by 4aapl on Sept 8, 2020 20:27:49 GMT -8
I think it's pretty obvious what new and exciting product will be introduced next week. "Time flies" ... it's got to be the new Apple Drone Watch ... an Apple watch that can fly! I hope that's to show it keeping track of you through your daily tasks, and not that that's the route you have to follow to get to your Apple Tile. (EDIT: The image seems appropriate for a tagline like "they go everywhere with you", for both the Watch and iPhone)
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