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  • chartists_view chartists_view Mar 22, 2011 12:40 PM Flag

    Chartists Warning...Please read Part III

    I would cover my short, in absolute, on a move just above the all time high of 247.55. Meaning, I have been establishing a nice core position by shorting in increments. And so far , so good. I have already shorted from ~223 and covered at ~214. If I get a buy signal I would probably hedge on my way up to the second gap level created 2/18- 2/22. Today, for example, I am long RIMM and looking to get long AAPL although I am not in AAPL yet. I see no compellinbg reason not to be short yet as this move has not been on pure buying just on upgrades. So I think we'd need to get more upgrades to keep this thing going. Two upgrades and this thing can't get out of its own way above the first resistance level, so bears still in the game and dominating that reistsnce level. More bears below the 60 min 200 ma level awaiting. Very risky long.
    Hope that answers your question.

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    • I see. I don't completely agree with your strategy because of 2 reasons.

      -Shorting at 220 and cover at 247 gives you a $27 loss. Going above 247 may not give you a +27 gain. Risk/reward is not in your favor.

      -From the long term perspective (2 yr chart), the up trend is intact and is in fact very strong. Going against it is a fundamental flaw. I would buy short term dip in a long term up trend, instead of shorting during the dip. From a short term perspective, daily charts are setting up for a possible huge run to new high.

      • 3 Replies to jackyao0408
      • Load may puts asap

        all criminal thug hastings scam $ss poop wipe suckers will get killed
        after today scam pump........you will not see $220's again ever

        scam poop paper with rat poison bait for suckers

        what a crime scene

        where is sec/finra/ criminal watch dogs


        lion broadcasting under censorship attack today folks and why?
        my war against criminal thug hastings gang is on.......

        lol
        credit suisse screams dump at $180 and now bribed to find suckers for sumps
        zero credibility

      • How about extend that a chart a little longer than 2 years to maybe 15 years, and check out S&P ticker SPY on it?

      • Jacky, you are leaving out two important factors. I already have a $9 profit in the trade (from 223-214=9). So $27-9 is now $18. Also, I would hedge on a technical set up to the upside, so that would lower my risk as well. I'll be sure to post my moves like my long in RIMM at 62.08 :)

        Like I said in my original post, this is an advanced trade and it takes a while to manifest. But follow along, its like a puzzle and you'll see the pieces coming together over the next few weeks.

    • The biggest bears of all are the insiders and institutions that have been dumping the stock like there is no manana

 
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