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Post by phoebear611 on Oct 19, 2012 7:56:25 GMT -8
Where is the 200 day?
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Post by lovemyipad on Oct 19, 2012 8:00:23 GMT -8
Currently 583, but it rises every day that we're over it.
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Post by lovemyipad on Oct 19, 2012 8:01:31 GMT -8
The positive divergence is shaping though on the daily, so this is the LAST leg down in this correction, IMHO.
Steve, I bought too. I like to scale in.
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Post by phoebear611 on Oct 19, 2012 8:04:54 GMT -8
The positive divergence is shaping though on the daily, so this is the LAST leg down in this correction, IMHO. Steve, I bought too. I like to scale in. "so this is the LAST leg down in this correction, IMHO>" are we talking about the leg from this morning or the one potentially down to the 200 day?
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Mav
Member
[img style="max-width:100%;" alt=" " src="http://www.forumup.it/images/smiles/simo.gif"]
Posts: 10,784
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Post by Mav on Oct 19, 2012 8:17:43 GMT -8
How do you have high confidence iPad? It's been two days.
Asking partly for the newer traders. This day DOES look interesting on quite a few levels.
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Post by lovemyipad on Oct 19, 2012 8:19:30 GMT -8
AAPL INTRADAY ONE-HOUR CHART:
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Post by lovemyipad on Oct 19, 2012 8:19:54 GMT -8
How do you have high confidence iPad? It's been two days. Asking partly for the newer traders. This day DOES look interesting on quite a few levels. What high confidence? I'm just following if/then...
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Post by lovemyipad on Oct 19, 2012 8:21:17 GMT -8
The positive divergence is shaping though on the daily, so this is the LAST leg down in this correction, IMHO. Steve, I bought too. I like to scale in. "so this is the LAST leg down in this correction, IMHO>" are we talking about the leg from this morning or the one potentially down to the 200 day? Phoebes, see that last 1H chart. See the blue B and the blue C. That leg. And it can end any time now.
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Post by lovemyipad on Oct 19, 2012 8:51:13 GMT -8
Zoomed:
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Post by mbeauch on Oct 19, 2012 9:56:55 GMT -8
Zoomed: .23c huh? I always hated looking at that xxxooo chart because it always had that 616 target. That chart is satisfied, fib is satisfied, anything else. I will say this, if we don't move up some today to give us a spike on the bottom, I will fear the next support levels. WS has me in a vice, I don't like it.
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Post by aaplexcelsior on Oct 19, 2012 10:11:49 GMT -8
Ugh, 585. Any suggestions on how best to hedge for such a possibility?
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Post by Apple II+ on Oct 19, 2012 11:13:45 GMT -8
Ugh, 585. Any suggestions on how best to hedge for such a possibility? Any leveraged trade that's profitable with AAPL above 585 and can be rolled out just in case.
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Post by wheeles on Oct 22, 2012 9:33:45 GMT -8
I mentioned this on the intraday thread, but on the daily ichimoku chart we have the kumo directly above. This is an area of resistance. That is why I take issue with Andy Zaky's claims of a break over 624 seeing no resistance. Attachments:
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Post by phoebear611 on Oct 22, 2012 9:49:18 GMT -8
I guess I can deal with it if it ever gets over 624...baby steps.
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Post by rutgersguy92 on Oct 22, 2012 10:26:47 GMT -8
That Kumo stays with us all the way to 660.
That's certainly a new one for me. Is that from Japanese TA?
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Post by wheeles on Oct 22, 2012 14:25:58 GMT -8
That Kumo stays with us all the way to 660. That's certainly a new one for me. Is that from Japanese TA? Yep. It pretty much got ignored in the last hour or so, but I think that's because someone turned on a buy program. In those cases all bets are off.
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Post by wheeles on Oct 23, 2012 10:09:53 GMT -8
Just a quick update on that daily Ichimoku chart (should I have put it in the daily charts thread?). Price has dropped back below the kumo. If the day closes there, then according to this system, that is a strong sell signal. Attachments:
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Post by mbeauch on Oct 23, 2012 10:12:46 GMT -8
This is going as usual, sell the news. 600 is in our future. TC has pretty much signaled an earnings miss.
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Post by wheeles on Oct 23, 2012 10:14:54 GMT -8
We got a short breakout on the Camarilla (ie. sell/short signal).
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Post by lovemyipad on Oct 23, 2012 12:48:43 GMT -8
Birdie, cover your eyes...I'm going to talk Fibs and EW in next post...
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Post by mbeauch on Oct 23, 2012 12:51:37 GMT -8
Birdie, cover your eyes...I'm going to talk Fibs and EW in next post... Bring it on. BB's clouds are raining.
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Post by lovemyipad on Oct 23, 2012 12:53:41 GMT -8
AAPL INTRADAY 3-MIN CHART: Hit the 1.618 Fib expansion on the nose. In EW terms, we have 5 waves down (pink)...so the next move *should* be up. If so, then when the "up" begins, start counting. If it's only 3 waves up, we aren't finished with this downwave from 705. If it's five waves up...we're most likely done, and we're in a new upwave from 609.
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Post by mbeauch on Oct 23, 2012 13:00:13 GMT -8
AAPL INTRADAY 3-MIN CHART: In EW terms, we have 5 waves down (pink)...so the next move *should* be up. If so, then when the "up" begins, start counting. If it's only 3 waves up, we aren't finished with this downwave from 705. If it's five waves up...we're most likely done, and we're in a new upwave from 609. Great, that means we won't know until it is to late. I still do not think we are done with down. Come on 5, feel like I am already at the craps table.
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Post by lovemyipad on Oct 23, 2012 13:13:08 GMT -8
Well, 585 comes up over and over again... The question is: expect the expected, or the unexpected?
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Post by wheeles on Oct 23, 2012 13:20:37 GMT -8
Birdie, cover your eyes...I'm going to talk Fibs and EW in next post... The reason I gave up on Fibs and EW is because I often made similar judgements about where a move would end based on this stuff. However, in most cases somebody didn't get the memo and proceeded to push the price past my nicely crafted Fib levels. So then I'd go back, tinker with something and finally manage to pull some sort Fib extension or retracement out of the air to fit what had happened. In the end I came to the conclusion that this stuff was better at explaining what had happened than it was at predicting what would happen.
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Post by mbeauch on Oct 23, 2012 13:36:47 GMT -8
In defense, I think it has value. Some of the rules are time tested. I think one of them has to do with the length of a drop corresponding to the rise. Which is why Lovey thinks the bottom may be in. Me, it is just my gut telling me that it is not. Mexican for lunch, so who knows.
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Post by lovemyipad on Oct 23, 2012 13:54:10 GMT -8
Birdie, I do know what you mean. Still, I believe in the proportionality of price moves -- quantifying crowd behavior. The pendulum only swings so far in one direction (greed) before swinging back the other way (fear).
I watch Fib levels like I watch all other support/resistance markers...I watch and see and let price confirm one way or another.
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Post by phoebear611 on Oct 23, 2012 15:58:59 GMT -8
I'm reading Wheeles and iPad and now am somewhat confused. What are we thinking about tomorrow? I understand the "shoulds" and "ifs" but what are we anticipating? Or are we just waiting to see what ATT reports and how the stock reacts to that announcement? In a week where you have ATT, VZ and AAPL report....AND product announcements...how the hell can you wrangle the technicals? I feel like I'm sitting here and we have a bunch of drive by shootings and all I seem to be doing is ducking under the counter!
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Post by PikesPique on Oct 23, 2012 16:00:11 GMT -8
Save a little room under there for me!
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Post by rutgersguy92 on Oct 23, 2012 17:34:37 GMT -8
I'm reading Wheeles and iPad and now am somewhat confused. What are we thinking about tomorrow? I understand the "shoulds" and "ifs" but what are we anticipating? Or are we just waiting to see what ATT reports and how the stock reacts to that announcement? In a week where you have ATT, VZ and AAPL report....AND product announcements...how the hell can you wrangle the technicals? I feel like I'm sitting here and we have a bunch of drive by shootings and all I seem to be doing is ducking under the counter! Drive-by shootings? You're either in Newark, Camden or Asbury Park? Oh wait, you're in NYC. The south Bronx?
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