Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Several days ago I made a case that AAPL might be in for a decline. While that post certainly had a day-trading (go short) aspect to it, I really was making the case that longer term, there would be headwinds that would cause AAPL to slow its march higher and ultimately reverse. APPLE RESTING OR "SHIFT" IN PLAY?
Please examine the chart below. I've drawn an additional line or two to show where we might see some major support at $305. Again, I am looking at the play from a longer term strategy view (I think these are the ones I'm best at).
Some Slopers are currently taking a shot on the long side of AAPL, and when you take a look at the daily chart here, you can see why they would go after it. If I were playing that trade, I think I'd lighten up at $340 if I got there. I think there could be a short term bounce, but ultimately a failure back at the $330 level and a fall to test my $305 level.
So there you have it, a bounce here, and then over the next several weeks a drop through the $330.00 to visit $305. As for my RIMM play. I'm keeping that one short. www.goatmug.blogspot.com
While glancing through this morning's financial news, I saw this article about short-sellers which prominently featured this image:
Whoa!! I realize that we bears aren't widely loved, but is that really how we're perceived?
I guess since bears aren't part of any specific racial or (cough cough) religious group on Wall Street, they can get away with this. Where's the Sloper Anti-Defamation League when you need it?
If this big boy, whose earnings are announced after the close next Wednesday, gets taken out – – which I think is altogether probable – – the feces are really going to start hitting the fan. Goatmug's got a more complete post on this same stock which I'll put up this evening.