Weekly Stock Picks are HERE.
Economic Calendar is HERE .
I’m short since 10/19/2012, hold partial short position with breakeven stop loss.
The main purpose of this intra-day update is to follow up the evil plan I hatched in the nightly report, so the update might be every a few hours. I’ll gradually add more features but for starter, let’s begin with the follow up first. You’ll be notified whenever there’s an update via twitter and the live update forum.
Well, indeed it’s 3 Push Down, so we’re due for 2 leg up at least. We may still be pretty much in the 1st leg up but just don’t forget the bottom line as we shall always keep the current trend in mind.
The same with AAPL, rebound, yes. Was rebound over? Not sure and not important. What important is to know the selling was strong so rarely it’s one legged. Enjoy your weekend!
There’re some chances we might see a meaningful rebound here. Just don’t forget the trend is down, so we should try our best to take a with trend trade instead of trying to catch exactly bottom.
Update AAPL as requested. Now the 100% Measured Move target has been fulfilled which means the down momentum is not weakening therefore could see more selling ahead.
Again, consolidation here generally favours bears, so bulls need a sharp rebound to change the star.
I’m still neutral in AAPL, the selling apparently is losing momentum but we need wait to see whether it’s simply a brief calm before the coming storm or things are changing.