Both daily and weekly RSI of all three major indexes are in over bought. And Credit Suisse CEO and Blackrock president are on TV encouraging people to put money into the market. This is a sign that market is topping out. You should start taking profits or buy put for protection.
Thanks. Just a side note since my original post. SPX has formed a short term down trend. The key support is around 1600. If it is broken with higher than average volume, the whole marker can go a lot lower. I hope you have taken profits on your Citi and didn't get into TSLA. Good trading.
Buying aapl stock at this level is like throwing your money in he garbage!
Its only down from here! Even if the market down't go down, aapl surely is going down from here. CRazy to buy at these levels!
Sentiment: Strong Sell
Good warning. Yet, general market topping is a thing that would not show until the index slides a lot in the chart. My understanding is the current market might keep moving forward in a bumpy way since there are still a lot of cash not invested in the market.
Good call on the overall market. bad call on AAPL. If you haven't noticed, AAPL is not tied to the market. In fact it has an inverse correlation in the last 6 months. So as the market drops and stocks like GOOG should continue to fall, AAPL will likely continue to buck the trend and grind higher. The charts tell the story.
Exactly Apple may not tank as hard as the rest of the market and may even increase in share price as a safe haven. That remains to be seen. I think Pureinvestor was commenting on the market while on an Apple message board and all of a sudden he is the enemy of the giddy longs. Rational thinking escapes some people.
Sentiment: Strong Buy
Deluded longs don't like to hear anything that might be construed as a negative even if the info is helpful. They live in distorted reality. The more rational people on the board continue to appreciate your informative posts.