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Short

$AAPL: The Fanboy Short

BATS:AAPL   APPLE INC
555 16 1
Did all the fanboys get caught in a pump and dump?
pdiddy.pablo
3 years ago
I think you'd have to be nuts to short here. there are plenty of other low risk shorts. Who is going to short here when it's only 8% above the year low. Is there a chance it goes to 480 before going to 540, yes. But it's it a sound investment to short, no. The risk to the upside and possible reward is much better. I'm long though so I'm obviously biased.
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TradeVulture.com pdiddy.pablo
3 years ago
You could be right. I feel that AAPL's glory days are behind it. I'm a trader so I don't care so much about fundamentals. I do what the chart tells me, day in and day out. I hope you don't get squeezed while you hold out for 540.
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pdiddy.pablo TradeVulture.com
3 years ago
Hmm I actually think Apple's only problem right now is the market. The only sound reason to short here it's if you have some persuasive vendetta. Historically it pops leading into product announcements. The long term chart is bullish. I think you're trying to get a rise out of longs by being contrarian but you're doing it at a very bad time. The risk stacked against a short here isn't worth it for a possible 2% down swing. And I like how there are so many proclaimed profitable day traders on this site when everyone knows 85% of technical traders lose money. I'd short Tesla any day but I wouldn't touch an Apple short with a ten foot pole. I'm not worried about getting squeezed out, but in my opinion you should be. My two cents...
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pdiddy.pablo pdiddy.pablo
3 years ago
And if you want to get technical I think this looks more like a bull flag than any other pattern. Especially before the Syrian debt ceiling crap.
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TradeVulture.com pdiddy.pablo
3 years ago
I'd like to direct your attention to this chart I put out some time ago:
APPL: A Bubble in the Making

As you can see, I do have some understanding about AAPL. When you realize that the big institutions are attempting to hide in AAPL because the rest of equities are selling off in fear of the looming crisis ahead, many will be left scratching their heads, screaming, "but AAPL has a low P/E". You should have seen the reactions and heckling I got when I put out the affore-linked chart. Now they all stop and listen.
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pdiddy.pablo TradeVulture.com
3 years ago
I agree with your old chart. I even agree the current chart poses a possibility of a pull back to 480. But personally I think the long term chart and fundamentals are too positive for playing a 2% short. Anyway good luck.
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pdiddy.pablo pdiddy.pablo
3 years ago
Actually I'm surprised how resilient Apple is being today. As soon as the knee jerk market reaction is over I could see a quick pop back to yesterday's bull trend.
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TradeVulture.com pdiddy.pablo
3 years ago
You are witnessing large funds herd into AAPL because they are trying to stay afloat. Too much risk above in the overall markets here. Profit taking will commence once they see the market start losing key support levels.
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sublimares2
3 years ago
I have this possibiliy open- a pullback back at 483.
snapshot
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pdiddy.pablo sublimares2
3 years ago
Support broken. 483 is a given now. Opportunity to buy more
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TradeVulture.com pdiddy.pablo
3 years ago
486 is a 2.618 fib level. That's the level I'm thinking we will test today.
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sublimares2 TradeVulture.com
3 years ago
I would say 489.68 (gann 60 degree)
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TradeVulture.com sublimares2
3 years ago
We basically tested 486. (486.30 low) I'll have to look when I have more time
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sublimares2 TradeVulture.com
3 years ago
Fibo level of 2.618 measured from what points?
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sublimares2 pdiddy.pablo
3 years ago
MA 21 should give support and probably a buyable area
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TradeVulture.com
3 years ago
I guess this target was hit?
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