Bullish stick sandwich ... AAPL candlestick pattern is not like a stick sandwich though ... almost.

I like sandwich on a stick. While watching candles… 

[quote author=“xumbra”]
For the fist time in modern history, electronic gadgets like portables, moblie phones, hand-iPod-sets and alike, are on the top of the younger generations shopping list. This top seat has always been reserved for youngsters First Car. But not anymore.

Hey! That’s good for us!

Check this simple chart again. Note how the stock boomeranged up from that dip to $150, tagged the 10-day almost to the cent, and saw the stock destroyed back virtually to the 50-day as the program trades shorted and sold the bearish crossover the the 10 and 20 day MAs.

By rights we should close anywhere between $175 and $165 given the OE churn. No doubt at all that this stock is trader fodder right now though. The bears made sure the weasels got fed this week, and the cows have been put out to slaughter in one of the most outrageous set-ups I’ve seen all year.

Lets just hope the 50-day doesn’t fail here.

Cramer’s quant funds are running their computers in turbo mode.

AMZN gets pumped this morning. BRCM gets pumped. RIMM gets pumped. No doubt GOOG will get a $1000 call later on

Where the hell is the AAPL commentary? :x

Beware bull traps today, and for the rest of the week.

I’m in and out all day and will be posting occasionally by iPhone, so apologies in advance for any typos

[quote author=“Tommo_UK”]

I’m in and out all day and will be posting occasionally by iPhone, so apologies in advance for any typos

We’re used to that from you. 

btw- did you just see that surge in AAPL?

Yeah.  Big pop to $169.31.  No news that I’m aware of.

Oct CPI 0.3%
YTD CPI 0.2%

jobless claims up 20,000 to 339,000

Join the dots. Draw a downtrend from yesterday’s high. Its at $170 now. We get over there, we rally to $175. We fail there, we go back to $165 - or possibly a re-test of the 50-day at around $163.

Don’t need to tell you where we go if that fails.

Today’s action is untradeable unless you can stomach wild swings. Don’t be a cow stuck in the headlights. Protect your capital. Wait for the close. If the stock bottoms there will be plenty of time to get back into it for a rally into the end of the year. If it fails here though, there’s up to $20 downside. Buy if you can afford it - don’t fret if you can’t - wait for the train to start travelling in the right direction again before you get on-board if you can’t afford to pay for a return ticket.

By the way, whatever the technical set-up, I just have to say this:

This is the most hysterical, panic-stricken, oversold, undervalued market I have seen since 2003.

[quote author=“Tommo_UK”]By the way, whatever the technical set-up, I just have to say this:

This is the most hysterical, panic-stricken, oversold, undervalued market I have seen since 2003.

Did you just hear this - someone updgraded AMZN - this overprized pig!! I really start doubting the seriousness and sanity of these analysts.  :x

Because of the sub prime/ hedge fund activity I think that today and tomorrow will offer the best buy AAPL opportunity this year. By tomorrow afternoon I will be all in. Trick is the swings we will see in the meantime

It is always a good start when aapl is up 1% and rimm is down 1% at the open

[quote author=“omacvi”]It is always a good start when aapl is up 1% and rimm is down 1% at the open

Maybe some traders confused the AMZN upgrade with AAPL

I actually want RIMM, AMZN, GOOG and AAPL all up.. they’ll drive the NDX100/QQQQs up and help the entire market rally.

Since we all expect AAPL to be pinned to 170 for OE, is there any point in watching the price today or tomorrow. There isn’t likely to be the momentum to drive the price to 175, nor the lack of interest from dip buyers to plunge it to 160. So maybe we should go to the movies?