I think we are going to have a chaotic day. Friday will be the day where it is decided if these recent gains are going to be locked in or not. While the charts that I posted earlier showed the cubes and SPY and AAPL at a stall, suddenly in the last 10-15 minutes of trading the stocks roared forward and the candles suddenly changed to bullish.
AAPL:
Now its a top hammer, which is lukewarm to good with a little bit of up in it. The cubes and SPY kind of the same thing. But will the market continue to rise? The candles say so. But AAPL is sick. Under the guidance of Cook, it just doesn't have the creative fire that jobs brought to the table and several years after his death, this fact has come home to roost in the stock price as manifestation. An apple watch? Thanks, but I already have a cellphone. And that's the problem boiled down to its least common denominator. If Apple wants to drive again and dominate the market, they have to once again come out with products that are so innovative, everyone else HAS to say "Me too.". Phones were like Blackberries and apple came out with the Iphone. Now ALL phones are like Iphones with no physical keys, just a touchscreen with apps. Apple needs to do something new, like invent an AI phone or a Holographic phone with the image in the air above the phone as it lays on the table. Then you will start to see this stock go way back up there. Until something like this happens, its going to continue to shed. Innovate or die.
Back to it. I expect a rally in the morning, and then a reversal as people look around for something to grab onto but get nothing. I am ok regardless what happens tomorrow as I have QQQ calls in case things go up, and I have 2 puts for the down. Im pretty good as using a double down (DD) to cover in case things go wrong. I simply wait for the charts to become even more clear, broadcasting a top or bottom and then I recoup and keep going.
Well, thats my rant for this evening, see you in the trenches tomorrow.
Tradinginsider
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