the chart setup is SPX is no different that Gold. Both have
divergence and both have been rallying on the possibility of a QE3
stimulus. Yet gold sold off and Stocks did not...But if past is any
indication then the sell off in stocks is not too far away. It
needs a catalyst which i am not sure what it is yet.
The catalyst is AAPL. Once that parabolic mania ends, the
sell-off will begin IMO. I just saw an article on marketwatch
by Cody Willard (I'm sure they are everywhere) about why AAPL
hitting $1000 is a sure thing. Mom and Pop will look at AAPL
at $500 and see it as a guaranteed way to double their money.
AAPL to $1000? I remember in 2000 when QCOM jumped by $150 in 1
day when an analyst issued a $1000 price target. That was the
blowoff high for QCOM, the tech bubble, and my net worth.
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Why stock did not sell off
Posted by johncu on 29th of Feb 2012 at 02:32 pm
the chart setup is SPX is no different that Gold. Both have divergence and both have been rallying on the possibility of a QE3 stimulus. Yet gold sold off and Stocks did not...But if past is any indication then the sell off in stocks is not too far away. It needs a catalyst which i am not sure what it is yet.
The catalyst is AAPL. Once
Posted by kalinm on 29th of Feb 2012 at 02:39 pm
The catalyst is AAPL. Once that parabolic mania ends, the sell-off will begin IMO. I just saw an article on marketwatch by Cody Willard (I'm sure they are everywhere) about why AAPL hitting $1000 is a sure thing. Mom and Pop will look at AAPL at $500 and see it as a guaranteed way to double their money.
a little downside action in
Posted by kalinm on 29th of Feb 2012 at 03:36 pm
a little downside action in AAPL
yes forming a shooting star
Posted by oops1e on 29th of Feb 2012 at 03:38 pm
yes forming a shooting star candle
AAPL to $1000? I remember
Posted by sethbru on 29th of Feb 2012 at 02:45 pm
AAPL to $1000? I remember in 2000 when QCOM jumped by $150 in 1 day when an analyst issued a $1000 price target. That was the blowoff high for QCOM, the tech bubble, and my net worth.