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Post by CdnPhoto on May 20, 2024 3:31:17 GMT -8
AAPL is currently down at 189.13 -0.74 (-0.39%) RSI for AAPL is 71.43 RSI for DOW is 70.24
Both are indicating over bought.
Happy Victoria Day to all my fellow Canucks.
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Post by CdnPhoto on May 20, 2024 3:37:36 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,313
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Post by Dave on May 20, 2024 8:34:43 GMT -8
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4aapl
Moderator
Posts: 3,845
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Post by 4aapl on May 20, 2024 12:58:47 GMT -8
A decent day, up over a buck, to close at 191.04 +1.17
Volume was off the average by about 30%.
Nice to have it slowly crawling upwards.
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Post by sponge on May 20, 2024 18:05:06 GMT -8
Not sure why aapl was up given the negative story about discounting China iPhone prices. I think it was dragged up by the overall Nasdaq which is anticipating some good numbers from NVDA. My gut says that NVDA despite good numbers will actually correct in AH.
Its p/e of 80 makes it very sensitive to any slight negative narrative and more manipulation. So if it goes down it will take the market with it.
I see aapl at 200+ by WWDC and then a correction into the summer.
It has been a very challenging stock to trade in the last 2 years since it has not followed the overall market despite being part of the FAANG family.
What I noticed is that it simply follows the 10 year bond price. When the yield goes up aapl goes down and vs.
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Post by Luckychoices on May 20, 2024 21:16:55 GMT -8
Not sure why aapl was up given the negative story about discounting China iPhone prices. I think it was dragged up by the overall Nasdaq which is anticipating some good numbers from NVDA. My gut says that NVDA despite good numbers will actually correct in AH. Its p/e of 80 makes it very sensitive to any slight negative narrative and more manipulation. So if it goes down it will take the market with it. I see aapl at 200+ by WWDC and then a correction into the summer. It has been a very challenging stock to trade in the last 2 years since it has not followed the overall market despite being part of the FAANG family. What I noticed is that it simply follows the 10 year bond price. When the yield goes up aapl goes down and vs. After the comment you made over the weekend," Yes I am still alive and now an aapl bull."...I didn't come away with the thought that you were trading AAPL. Is that what you're doing?
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Post by sponge on May 20, 2024 22:41:58 GMT -8
Yes I was trading options. Still hold shares.
Was wrong about direction for the last 6 years because I failed to understand that the market was moving based on cheap interest rates for over 20 years. Fundamentals are less important. I was the first to predict 3 trillion valuation but was wrong about timing and profits.
I still believe we will once again correct violently to the downside. Just not yet.
Covid pumped trillions into the world economies so there is still plenty cash left for millions of people to spend despite inflation and higher interest rates.
National debt and a good recession will drag us down like never before. We just have wait a little longer.
I am a bull for now since a simple expansion of the p/e to 40 based on historical moves, will give us 255 easily in the next 6-12 months.
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