DJIA breakout zone 10,060
DIA breakout zone 100.60
AAPL breakout zone 242
5 min stochastic overbought at the moment on all of them so we may see slight pullback before it tries again.
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conshmillo 11:04 am on August 27, 2010 528 days ago Reply
Alright. 5 min stoch spent on very low retracement. It should pop higher.
conshmillo 11:07 am on August 27, 2010 528 days ago Reply
DJIA, DIA both new high of the day. AAPL lagging as hedges are messing with it.
conshmillo 11:12 am on August 27, 2010 528 days ago Reply
poppity pop
conshmillo 11:15 am on August 27, 2010 528 days ago Reply
it looks like those assholes wont allow AAPL to escape velocity today
caruso2323 11:17 am on August 27, 2010 528 days ago Reply
Conch we have a MACG break-out on the 5 minutes chart, so if confirmed it looks bullish … But volume is not heavier than the old averages…
conshmillo 11:35 am on August 27, 2010 528 days ago Reply
@caruso2323
problem is there is a terrible lag between what DJIA/DIA does and what AAPL is doing. Those assholes are selling underlying AAPL into the DJIA strength to slow it down.
conshmillo 11:26 am on August 27, 2010 528 days ago Reply
Out of my early morning SEP 100 DIA @ 2.64 for 0.74 (in @1.90)
Nicu 11:29 am on August 27, 2010 528 days ago Reply
@conshmillo
cool
conshmillo 2:43 pm on August 27, 2010 527 days ago Reply
Depressing to watch AAPL on Fridays huh? DIA hit new hod 6x so far, it’s about to hit it 7th time. AAPL could not cross it first 242. It’s acting 3.6x weaker than DJIA.
hocm12 2:54 pm on August 27, 2010 527 days ago Reply
that’s because people are covering their shorts on friday going into the weekend. AAPL is the least shorted stock so it’s not participating. i don’t believe in these hedge fund conspiracy theories you guys are writing about
carlmuck 3:58 pm on August 27, 2010 527 days ago Reply
@hocm12
I’d like to believe you, but short covering hardly explains 1.6% rise in the NASD while apple is stuck at .2%-.4% all day long. Looking at the directional bias, sellers have been in control all day, as the stock presses up, selling comes in. Its really hard to understand as “natural” given the overall market bias today.
conshmillo 4:35 pm on August 27, 2010 527 days ago Reply
@hocm12
no conspiracy theories. just simple observation of what’s happening ever since weekly options on AAPL were introduced. Today is a bit off as it was much harder to keep it close to 240 when DJIA is pushing 160 into the close. Search comments or read through posts, you’ll find summary of Friday’s closing prices of past 7 weeks. Mechanics of it had been described and discussed. It is really no stretch of imagination as same thing is happening with monthly options for years. Weekly options just make it more visible because exercise prices are multiples of 10. Nobody is trying to convince you of anything. Research it, evaluate it, if you decide it has some merit use it to your advantage, if not toss it.
btw. judging by where technicals are at today’s close, next week pin should be at 250.
Nicu 5:23 pm on August 27, 2010 527 days ago Reply
@conshmillo
are you forgetting the Apple event next week ? it may be stronger than technicals (today) during the week (for the better or worse)
conshmillo 5:34 pm on August 27, 2010 527 days ago Reply
@nicu
Nope. I mentioned it in this week’s wrap up.
http://www.traderhood.com/2010/08/23/this-week’s-events-aug23-aug27/
Nicu 6:07 pm on August 27, 2010 527 days ago
@conshmillo
What I meant was that if they announce that 10M iPhones or other good number of iPads or that iPod touch with 3G/WiMax/LTE whatever … it may be $260 or more; if nothing surprising, it may be the ol’ sellin’ on the news and go back to $240
conshmillo 6:10 pm on August 27, 2010 527 days ago
@nicu
That said 260 is a possibility with right announcement.
I know what you mean but I have to be consciously curbing my inner optimist, as he is costing me a lot of money
Nicu 6:25 pm on August 27, 2010 527 days ago
@conshmillo
I know what you mean, I got bit by the same snake recently – as I do not do technicals, I decided to slowly step away from short term plays and just let this steam roller (Apple) carry its carriage (AAPL), even if the latter is 6m to one year behind; I try to catch it with long term options
mikeinmontreal 3:07 pm on August 27, 2010 527 days ago Reply
Fonzie!!! How was your trip?