Posted by: stockscooter | April 19, 2012

icrash Update

Apple stock is in a critical area, so I’ve been watching it closely.  I just happen to believe it’s important for the health of the broad markets, for Apple to stay healthy. But, I don’t believe it will.

Down at levels near $582, I commented that the upper trend line should hold future advances.  On the 17th of the month, it stopped it in its’ tracks.  The next morning the powers that be gapped it above the trend line.  Let me tell you, that’s the only way they were going to get it there.  Today, those manipulative, market-making, son-of-a -guns gapped it back under the trend line.  They are doing what I fondly call “The Schwarzkopf“.  General Schwarzkopf, before attacking Iraq used a unique strategy.  He moved troops up, back, in, out and across the border of Iraq, as a head fake, to get the Iraqi national guard to commit.  Once committed, Schwarzkopf and his troops massacred them.  Currently, that’s what they are doing with Apple stock.

The low risk short was hugely successful, but now “low risk” isn’t so much the case.  Get ready for more volatility and gaps-they want the shorts to leave and it could take days or even weeks to see that happen…or it could be resuming already.  However,  my weekly, first to turn indicator is deeply oversold already, but hasn’t turned upward yet.  That’s namely why the low risk shorting has ceased.  A $50 break-down in price will do that to ya’!  Shorter-term intra-day trades would be less risk currently, while we wait for the weekly indicators to show signs of a sell, again.   Do note, that on my weekly chart, I have a regression line drawn in light blue.  This is the “mean”  where prices should regress to at some point, or possibly lower.  Monthly charts indicate even lower than this!

 

 

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