b_astute
Long

shorts gonna get burned

NASDAQ:AAPL   Apple Inc
AAPL all day today is buy
Dec 03
Comment: Looks like I was off a few weeks, and a few dollars, and a few downgrades.. oh well I was dollar cost averaging and accumulated in the 170s
I’m good and still bullish

Comments

Not looking so hot.
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b_astute David_Scott
@David_Scott, yea but little pain for long gains. I’m still a bull
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@b_astute, AAPL is a fantastic extremely profitable company. But I expect we'll be tagging $100-$120 area perhaps even lower (based on suppliers and AAPL lowering sales forecasts) before this is done correcting.
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David_Scott David_Scott
@David_Scott, Shorts entered from the $215 - $205 area ... it would take a heaps of cash to burn them at this point.
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David_Scott David_Scott
@David_Scott, NDX / QQQ will bounce from somewhere probably soon and lift aapl with it...but I think aapl has enormous overhead resistance to contend with now. Unless the macro economic factors and their sales changes. I expect a bad ER from them next quarter too.
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Dani0 David_Scott
@David_Scott, You're long? You know its still dropping right?
+1 Reply
@Dani0, No I am short all the way. I tried to catch the bounce a couple weeks ago...but didn't work out well. I'm shorting every big bounce at this point.
+1 Reply
Dani0 David_Scott
@David_Scott, Good man :) ...... $160 is my initial target, however market is dropping at a faster rate than I anticipated. At current rate of drop, when market gets to $160, the 50 EMA on the monthly view may not have caught up to market at $160. This means it could possibly go lower than $160. Market is to bottom out at 50 EMA line on the monthly view but if EMA does not meet price at $160 as first calculated, then further drop imo. At the moment, 50 EMA line sits at $144 and rises very slowly too so I am still looking at $160 as first target, but there is a 2nd target between $140-$150 dependent on where 50 EMA meets market and if market forms a wick as it so often does. Do stay tuned my friend :)
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b_astute David_Scott
@David_Scott still a buyer and yea it hurts but I have tons of cash
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Dani0 b_astute
@b_astute, give it here so i can improve it, why are you throwing it away lol, this is headed to -160
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