Originally Posted by mact3333
yeah I also warned about AAPL here a month ago or so...but the charts say the selling should be over soon...I am cost averaging so dont need to catch the absolute bottom....will buy more if it goes down next week.
But I will say this, I dont think I have ever not seen a true bottom when people were saying the exact things I am hearing on this thread about AAPL...you gotta buy when your brain tells you not to, do exactly opposite of what your emotions and brain are telling you and you will be better off....if the masses say stay away you gotta buy...hence my position in RIMM awhile back, everyone hated RIMM when it was below 10.00...and now AAPL, people hate this stock all of a sudden but its a growth company who is still the leader of tech trading at a PE of 10...revenue growth still 25% but earnings have flattened but I bet iphone 5S surprises to the upside...
Cant make money by following the herd...many people finally went long AAPL when it touched 500 and felt great when it saw 700 for a split second, but the problem is people never know when and how to get out...they will ride this thing down all the way to the bottom(like right about now haha) before capitulating...I feel more confident in this trade knowing people are advising against it and saying it could drop another 200 pt's.
The weak hands will sell to me right about now as I sense there is capitulation now and be very angry 1 yr from now when the true mkt top will hit.,,,even if it goes to 400.00 doesnt matter to me as it will be higher than 450.00 soon enough.
This thread was started by me to use technical analysis to establish entry and exit points based on a theory...doesnt really matter if you are right or wrong, just have to take a stand based on charts , a theory and maybe even fundamentals...but one thing you should do on this thread is the have the balls to take a position and announce your entry point so it has a time stamp..."I am up 50% in 2 wks" is meaningless unless you timestamp your entry cause anyone can say I am up 50% and you might be not be making it up if you take a small meaningless position in many stocks and you post the one that sticks.
I want to see charts or some form of data to show "why" you took the position...that is the true value of this thread...for others to learn different trading styles and theories.
Some people use Elliott Wave, some cycles work, some pure technical analysis, some use Dow Theory and some sentiment indicators(I like this form of trading myself).
GL ...imho if you wanmt to make money this yr you better have a long bias.
Very good points. Fib arc shows support at the $420-425 range. I'll be looking to go long soon when it hits those target.
AAPL just hit a $435 low after hours. Would love to see how AAPL opens on Monday. Three days of sell off usually show a bottom of some sort.
Originally Posted by e92tt1986
GDX looks very good
Would you guys recommend picking up some on monday?
Very risky play. I have been keeping up with NUGT and nearly bought on Thursday but luckily I didn't. Will have to see how these gold mining stocks do on Monday. Technical analysis is showing GLD/SLV will slide even lower.