On Nov 24th, in this video at minute 2:14 I stated that “my upside target on Apple is $590″. Apple closed that day at $571. You can see by the shaded area on the chart that we barely ever traded above that level and we never closed above it. If you’re a regular reader to zentrader and you didn’t sell your shares there I don’t know what else I could have done to help you protect your profits.
I’m not sure what voodoo the powers that be conjured today to keep the Dow in positive territory…but when I look at this chart and know the effect it has on the Nasdaq in terms of market cap, all I see is a market that is in a lot of danger. The sort of swings that we saw today on the general markets is not good and it could be a sign of a unstable market. Bad things come out of these sort of states.
December 6th, 2012 at 6:10 am
the guy from sentiment-trader who is very accurate says a big move is coming.
I do not know about that, but I think its safe to say markets are always bound to do something we do not expect.
December 7th, 2012 at 8:05 pm
Got to wonder what the significance of Apple bouncing off of support twice recently with more than 40 million shares traded both times? Is it Benny and the boys at work again trying to save the markets? Would not surprise me in the least if the markets rally into the New Year with Benny and the Printing Jets going full steam ahead. When is this charade going to end?
December 7th, 2012 at 10:15 pm
a rally is possible..hell anything is possible at this point. just when we thought we’ve seen it all they pull another rabbit out of their hat. my signals remain bearish on dow/nasdaq….neutral to bearish on tsx. going to stay short until I have a reason not to be. trying to keep it simple and sit on my hands on a week like today.
what are you trading these days?