3SOF

I know dont tell me lol. It eases the pain it was like a month half ago since I got stopped out from HANS.

AAPL going the way of the bear  . Down close to -3% right now and looks like its heading lower.

Quote from: nullzero on August 08, 2006, 03:07:37 PM
AAPL going the way of the bear  . Down close to -3% right now and looks like its heading lower.

It is getting ugly for AAPL on the daily chart but in weekly chart it is showing some bull strength.
But I still think that the recent rally is a bull trap...lets see

Current price $65.00
when the gap close @ $55.00 = over 15% profit not bad huh?

Yeah that would be some nice gains! . Still in AAPL I think the market looks really bearish and is going to assist us with AAPL going lower  .

AAPL is steadly going down  . Looking good hehe

Im loving this bear POWER  . Lets see if we can get to 60 or lower by friday. Chart is getting uglier by the day!

Quote from: nullzero on August 11, 2006, 02:29:07 PM
Terliso loving this AAPL action .

Looking good null

Price still hanging @ upper trendline..

I think we will be rewarded next week on this trade  .

No rewards for the shorts last week...
does anyone see a double top breakdown forming here...  perhaps this time it will test that big gap.
but the double top was not as strong technically as the OMNI one that i played a couple of weeks ago, this second top at 68.66 was not as close to the firts at 70.00 and the trough between was only 2 weeks ...
other chart readers out there have thoughts on shorting AAPL here...  the 67.85 resistance seems to be strengthening
cheers Joe

This stock will not go down easy! Im still holding my short im sure my patience will pay off. Negative news has came out for AAPL last few weeks yet its still holding onto its +65-68 range. Stick in there fellow AAPL shorts!

Quote from: nullzero on August 24, 2006, 12:57:06 AM
This stock will not go down easy!

nullz,

Boy, that's the truth!  It's showing a lot of resilience.

The lows of August 10 and 11 were a successful re-test of the down trendline off the January, 2006 high.  From there, it's rallied back toward the early August high of 70.00, and has formed an Ascending Triangle over the past week (pattern in purple).

If AAPL takes that out to the upside, a target of 71.15 would be IN PLAY.

Math:

Highs - are 68.66 and 68.65 (I always use the more consevative one, so 68.65)

Low - 66.15

68.65 - 66.15 = 2.50 points added back to 68.65 = Target: 71.15 IN PLAY

If, however, yesterday's low of 66.94 gets taken out to the downside, SUBTRACT the 2.50 points, so something like 64.50 would be IN PLAY.

Good luck!

My short of AAPL in late July was predicated on the idea that the top of the Kumo (Cloud)  would provide resistance and bring a halt to the Parabolic Rally.

Instead, the danged thing kept going, and also broke out of the Falling Wedge (pattern in blue), which is why I covered my short.   Despite the parabolic nature of the rally, that was much too strong for me to justify remaining short.

When I look at this chart, I have to say that the selloff to the top of the Wedge on August 10 and 11 on the options problem actually was a great opportunity to get long AAPL.  That was a successful re-test of the Wedge breakout.

The 8-day Tenkan-sen is above the 22-day Kijun-sen, so those are "in gear."

After the successful re-test of the top of the Wedge, AAPL has formed an Ascending Triangle over the  past week, as mentioned in the last post.

Overall, while the Ascending Triangle could get broken to the downside on a break of yesterday's 66.94 low, this chart is looking pretty bullish.  Even on a downside pattern break here, it still would look bullish.  A leg down here could end in a Bull Flag, or a Triangle, etc.

Quote from: Melf Elf on August 24, 2006, 07:07:22 AM
If, however, yesterday's low of 66.94 gets taken out to the downside, SUBTRACT the 2.50 points, so something like 64.50 would be IN PLAY.

The Ascending Triangle broke to the downside, putting a target of roughly 64.50 IN PLAY, however...

Quote
It's showing a lot of resilience.

It came roaring back again, and closed above the ascending line, so that downside target is ON HOLD.

The lows of this pattern are 66.15 and today's 66.27, so it still is a possible bullish Ascending Triangle if the 68.66 - 68.65 highs get taken out.  64.50 goes back IN PLAY if we take out 66.15.

It now looks more like a Rectangle, though.

Quote from: Melf Elf on August 24, 2006, 02:34:32 PM
it still is a possible bullish Ascending Triangle if the 68.66 - 68.65 highs get taken out.  64.50 goes back IN PLAY if we take out 66.15.

It now looks more like a Rectangle, though.

Closed at 68.75, slightly above the Rectangle. 

Very resilient, given the bad news on the fundamental front.  Yesterday before the close, CNBC did a piece on APPL and the battery problem, saying "It couldn't be worse timing for APPL, with back to school sales..."

You wouldn't know that from the chart.  AAPL rallied today anyway.