Weekend Updates - Archive

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    Posted: 06 July 2012 06:11 PM

    Hooray for UP!!! smile

    [ Edited: 09 July 2012 09:00 AM by lovemyipad ]      
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    Posted: 06 July 2012 06:13 PM #1

    Yep!

    Interesting week ahead, with earnings season and all.

    Google is rumored to announce earnings next week, but nothing official yet.  And given recent history, seems more likely that Google will announce the _date_ next week and actually have the CC the following week:  http://www.reuters.com/article/2012/01/09/idUS191601+09-Jan-2012+BW20120109

    Market feels short-term trendless to me.  Your take, iPad?

    [ Edited: 06 July 2012 06:16 PM by Mav ]

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    Posted: 06 July 2012 06:40 PM #2

    Mav - 06 July 2012 09:13 PM

    (...)
    Market feels short-term trendless to me.  Your take, iPad?

    We’re back in that wedge.  We retraced about 23.6% of the move from 565 to 614.  That’s shallow but sufficiently healthy for more up.  I’m thinking if that 600-ish area holds (as it appears to have held), retrace finished.  If it breaks and there’s another leg down, the measured move is around 595.50, which is about the 38.2% Fib retrace. 

    So we wait and see what Monday brings…  Regardless, it’s nice to know this stock cannot be held down much longer. smile

    [ Edited: 06 July 2012 11:23 PM by lovemyipad ]      
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    Posted: 06 July 2012 06:41 PM #3

    So, 569-614, not 609?  Why not?

    (See, I told you you’re patronizing me, I missed the measured move by 5 points.  But hey, when it’s technicals, I know I’m the humble, underachieving student.)

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    Posted: 06 July 2012 06:48 PM #4

    Mav - 06 July 2012 09:41 PM

    So, 569-614, not 609?  Why not?

    (See, I told you you’re patronizing me, I missed the measured move by 5 points.  But hey, when it’s technicals, I know I’m the humble, underachieving student.)

    You can slice and dice lots of different ways, depending on which trees in the forest you’re counting.  Right now, I’m looking at this section here:

         
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    Posted: 06 July 2012 07:39 PM #5

    So 569-609 IS a valid measured move measuring point?  Or is it 614?  I’m a total amateur at this, I can take the criticism easily.

    Meanwhile, hey, we worked off the overbought condition under convenient cover of market downturn.  Nice!

    Also:  Am I missing something?  I thought 23.8% retrace is a strong bullish sign, then 38.2% good, then 50% not so good.

    [ Edited: 06 July 2012 07:41 PM by Mav ]

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    Posted: 06 July 2012 08:16 PM #6

    Mav - 06 July 2012 10:39 PM

    So 569-609 IS a valid measured move measuring point?  Or is it 614?  I’m a total amateur at this, I can take the criticism easily.

    Meanwhile, hey, we worked off the overbought condition under convenient cover of market downturn.  Nice!

    Also:  Am I missing something?  I thought 23.8% retrace is a strong bullish sign, then 38.2% good, then 50% not so good.

    Mav, I must have mis-read when you posted 569-609 because I could have sworn we had the same start-end…  Okay, tell me where you’re taking your start-end (date and time)?  Let me see what you’re seeing.

    And yes, 23.8% is strong bullish, because it’s very shallow.  38.2% gets us out of claims of “parabolic,” IMHO.  50%-61.8% are still perfectly fine.  Beyond that, not good…that’s more reversal than retrace territory.

    Let’s take this to the Chart Talk thread…so we can “Fib” in detail… smile

         
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    Posted: 06 July 2012 08:19 PM #7

    I ignored the intraday high of 614 is all.  609 was yesterday’s close.

    I don’t know if the consensus among technicians is to emphasize an intraday high over a close or if one sometimes is a better measuring point than the other.

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    Posted: 06 July 2012 08:26 PM #8

    What do you think….i want one.

    http://9to5mac.com/2012/07/06/apples-rumored-curved-glass-wrist-computer-mocked-up/

         
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    Posted: 06 July 2012 09:05 PM #9

    Mav - 06 July 2012 11:19 PM

    I ignored the intraday high of 614 is all.  609 was yesterday’s close.

    I don’t know if the consensus among technicians is to emphasize an intraday high over a close or if one sometimes is a better measuring point than the other.

    Hmmmm…depends on what you’re measuring.  For example, for a breakout, you want to take out a level and CLOSE above it—that’s when I’ll usually say we need to see a “decisive” break.  But if I’m measuring retrace, then it’s high to low, including intraday—here, it’s all about the “waves” and the length of upwaves and downwaves because the amount of back-peddling depends on how many miles we booked in one direction.  Make sense?

         
  • Posted: 06 July 2012 09:13 PM #10

    Infohunter - 06 July 2012 11:26 PM

    What do you think….i want one.

    http://9to5mac.com/2012/07/06/apples-rumored-curved-glass-wrist-computer-mocked-up/

    Not for me.  You asked.  grin

         
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    Posted: 06 July 2012 09:49 PM #11

    Mercel - 07 July 2012 12:13 AM
    Infohunter - 06 July 2012 11:26 PM

    What do you think….i want one.

    http://9to5mac.com/2012/07/06/apples-rumored-curved-glass-wrist-computer-mocked-up/

    Not for me.  You asked.  grin

    It looks like a bad Star Trek mockup…and I know bad Star Trek mockups. LOL

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    Posted: 06 July 2012 09:59 PM #12

    ONE GUESS to fill in the blanks - that’s all you’ll need:

    Project - - c - h u g - - r

    No, not Project Chugger.

    rolleyes LOL

    [ Edited: 06 July 2012 10:01 PM by Mav ]

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  • Posted: 06 July 2012 10:04 PM #13

    lovemyipad - 06 July 2012 09:11 PM

    Hooray for UP!!! smile

    AAPL did it to me again. The late charge on today’s expiries cost me in excess of $31,000, because I bailed just as the rally began.

    [ Edited: 06 July 2012 10:19 PM by Gregg Thurman ]

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    Posted: 06 July 2012 10:05 PM #14

    I’ve seen Alien too many times. That is a facehugger.

    Or it’s from Terminator.

    Or it’s that cheese grater I got for Christmas….. :-?

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    Posted: 06 July 2012 10:09 PM #15

    That’s a scary cheese grater.

    Forget wearable computers.  The world has the iPod nano watch.  That will have to be enough. LOL

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.