Sure enough as my order filled at $638.00, AAPL knifed down lower kicking yours truly in the nut sack... In all honesty I would rather scratch my eyeballs out with a broken hockey stick dipped in HF acid than sit through one of these fucking AAPL corrections while watching all the baby monkeys run amok over the Internets spouting the end of Apple again and pulling stupid numbers out of their asses... But it is what it is...
We are currently still toying with AAPL former all-time highs as support; but I don't think this will hold as it was only hit once and broke through with ease in August. If we don't get a bounce here and happen to go further down the elevator shaft, this is what I'm looking at:
As seen above, former resistance just under the $620 level would act as greater support. Which also coincides with AAPL's 100 DMA seen below.
As we can see in the above chart, AAPL tended to favorably V-bounce off its 100 Day MA on several occasions in this past year. In addition, this 100DMA price is also in the range of the 50% Fibbonacci Retracement levels and former resistance as seen in the first chart....
Hence my reasoning, we are closing in on a bottom, especially as this would also price AAPL with a PE of 14.5 using last Q's TTM numbers.
But then again, what the fuck do I know; I'm just killing time now, experimenting with my patience levels via lighting sticks of dynamite and making excuses, trying to justify my dip buy yesterday as everyone else does on Stocktwits, awaiting on the bounce to cocaine highs...
2 comments:
I'd never been this entertained as I watched my long go down into the pit of hell. Keep it up man. You're funny. And I hope your numbers are right. Might take your advice and dip the toe in.
I absolutely beg you, for the sake of your trading account, please stop. Its scary to watch anyone go through that, and its a sure sign you need step back. It is something like an addiction to a bad relationship.
All I'm saying is decrease your position, do NOT buy dips you can't justify, and regain your composure. If you can clearly see you are not trading with your head you need to exit. You dont need to catch a bottom, you don't need to hit a homerun, plenty of time to get in long when its breaks its previous ATH.
Until that time, just trade the swings, or if you're not comfortable with that, find a better stock. Breakups are hard, I know, but once you start questioning your sanity its time to liquidate a bit and *wait*! Patience is your ally.
People lose fortunes doing what you're doing. They buy the dip, it keeps going lower, they keep buying, they end up at a breakeven, they tolerate a small loss, the loss gets bigger..and bigger and bigger...then boom. Protect your gains and wait. Nothing wrong with that. Please, for your sake, heed this warning. No stock beats gravity. Not a single one.
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