Short term down-trend continues; AAPL
The GMI remains at 1 (of 6) and the more sensitive GMI-R is 2 (of 10). While many stocks have bounced off of extremely oversold levels, it remains to be seen if they can break through resistance. I am nibbling a little and placing close sell stops below the low of the bounce. I am watching AAPL very closely.
Comments ( 4 )
Shawn M added these pithy words on Thu, 2-4-10 at 10:16 amBeing in cash while the stock market sinks is much more satisfying than being fully invested while it rises, I think.
GiovanR added these pithy words on Fri, 2-5-10 at 1:48 pmYou are “watching AAPL very closely” while it goes down and down from high $200… to do what??
Dr. Wish added these pithy words on Sat, 2-6-10 at 11:06 amThe idea is to make money, not be smart. Much more satisfying is to make money by being short as the market sinks.
Dr. Wish added these pithy words on Sat, 2-6-10 at 11:10 amAAPL is a major growth stock leader. It can give me an indication of the trend in growth stocks in general. I am watching to see if it holds support and breaks through resistance. If AAPL cannot begin an up-trend, I will not go long growth stocks. If it breaks through, I will accumulate it as well as other growth stocks.
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