Thursday, December 03, 2009


Late post but AAPL about to go into piledriver mode
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3 comments:

CN said...

When did you enter? At the top of that doji? If so that's pretty impressive, if I had seen the candle at it's high I would have been tempted to buy, thinking it was breaking out of the small range it had.

Telling the difference between a breakout and a reversal is something I'm still trying to gain experience with.

5:58 a.m.
Scott said...

When taken with what the QQQQ was doing at the same moment(diving lower),the attempt to pop AAPLs price higher was in conflict with the stronger market forces. I choose to go with those market forces instead and let whomever was trying to drive the price up before the candles change give me an even better short entry.
Watch these stocks that have been run up lately for these obvious attempts to keep them higher - AAPL POT GOLD AMZN etc. if the markets start to go down. They have good daily trading ranges and are yielding multi dollar moves with little risk.

8:00 a.m.
bluecollartrader said...

Scott,
I've been meaning to ask this for some time... What is it that draws you to the QQQQ as an indicator for stocks and ETF's that track/trade primarily on the big board? I know it works for you and I see the correlation at EOD but I was just wondering what drew you to it initially. I also have seen that you like it as the means to track index volume as an indicator... as opposed to the SPY, for example, which also has volume indicators you could use. In a nutshell, I'm wondering what it is about the QQQQ's that you find unique/helpful, how it came to you that it has value, and why use the QQQQ and not the SPY that you prefer to track market volume?
Clearly it works for you! Would you share some insight as to why...?

1:38 p.m.

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