mark
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Post by mark on Feb 23, 2024 5:08:07 GMT -8
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4aapl
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Post by 4aapl on Feb 23, 2024 9:49:28 GMT -8
Support at 180-184 seems to be pretty good, even if AAPL movement is a little disappointing recently.
While we mostly look long term, sometimes it is grating to not be keeping up with the competition, or in this case the QQQ.
FWIW, QQQ is up about 40% vs AAPL being up 24% in the past year. But that is part of what has the RSI for QQQ at 62, and only 40 for AAPL.
OTOH one way to think about it and understand it is to look at how even we are thinking about the stock. If there's not much for us to get excited for in the short or into the medium future, then how does it look for people that don't think about AAPL as often as we do? While we trust the megaship of Apple to keep on plowing forward while continuing to make a lot of money, some are looking for more excitement or short term catalysts than that.
On the one hand I want Apple to keep looking long term and not doing things to mess with the stock. At the same time, a little more AI talk while people are amped up over the concept would be nice. Code completion will be helpful, but it does make sense for that sort of announcement to wait until WWDC, which at around 3.5 months out seems like ages.
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4aapl
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Post by 4aapl on Feb 23, 2024 10:03:16 GMT -8
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Dave
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"It's tough to make predictions, especially about the future." Yogi Berra
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Post by Dave on Feb 23, 2024 11:16:49 GMT -8
Could always be a coordinated effort to do the ole “pump n dump” routine.
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Post by archibaldtuttle on Feb 23, 2024 17:51:18 GMT -8
Yeah, historically when "everyday investors" are bullish it's time to sell.
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Dave
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"It's tough to make predictions, especially about the future." Yogi Berra
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Post by Dave on Feb 24, 2024 2:33:27 GMT -8
Yeah, historically when "everyday investors" are bullish it's time to sell. I sometimes have trouble recognizing when I am bullish or when I am just hopeful. I suspect that one of them is backed by some logic.
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4aapl
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Post by 4aapl on Feb 24, 2024 11:35:29 GMT -8
Yeah, historically when "everyday investors" are bullish it's time to sell. I sometimes have trouble recognizing when I am bullish or when I am just hopeful. I suspect that one of them is backed by some logic. That's why I like to cross reference with the RSI. It doesn't necessarily help with the "just hopeful" diagnosis, though for me that is normally pre-earnings hoping that Apple beats by more than expected even though there is no real evidence of it, and I can normally back off and not make any pre-earnings "bets". But it does help with seeing if I am just bullish, or if maybe I am "excited bullish" due to AAPL being up for a stretch and likely at the top of a short term wave. With only 53% of those active traders being bullish, I don't know if these things would be precise enough to notice short term waves. OTOH, when a large percent of people are bullish, like 70-80+%, and it's getting front page headlines or news footage, that is the time to be worried about a bubbly top. Like the tech bubble in 2000, real estate bubble / great recession, crypto maybe 5 years back, and possibly even gold around now (you can buy ounces from Costco...seems like a sign). I guess I'd rather see a poll of a wider audience, not just 760 "active traders" at Schwab. But if a bunch of us "non-active traders" aren't really planning an buying or selling much even if we feel bullish or bearish, then maybe we just don't count much as far as the current market direction and excitement? Do many kids on the East coast or in NY have ski/skate week off? Looks like the daily volume for AAPL was down some this week compared to last, but SPY and QQQ were about the same both weeks, so maybe it just wasn't a thing. I do prefer when AAPL keeps up with the indexes.
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