Nasdaq down the most today. The tech leaders going to start the markets rolling over? PCLN, AAPL, GOOG, LNKD, NFLX. CRM all down.
Stock Market Intraday Chat: Mar 5th - 9th - Page 9
This drop barely pushed up volatility (VXX / TVIX mind you) which the only rational explanation is that the herd was prepared ahead of time for the potential of a retracement down. Meaning, puts/hedges were made beforehand, probably last week. It's a shame considering the move down we've seen so far... but I'm leaning towards it being more of a "bloodletting" than an actual change in trend.
So far, the selling feels slow and controlled. For the bearish case, I'd like to see a move back up to the regression channel support line being rejected on high volume. Otherwise, steady the course, cause up we go.
So you're saying that you want one more test and fail? We did what you described this morning.
yea nasdaq has been more volitale than other indicies as of late...up the most on green days and down the most on red days
I agree Jah bless, one of my favorite traders!
on the contrary, I'm not denying TSL arguement, I agree 100%. I'm still not getting swayed though until I see these lows of last WED. taken out.
I'm still saying it's a buy here! At least for a temporary bounce.
I had a post last week in the other intraday thread talking about my "bear" arguement. discussing some similar facts about ES being stuck in the lower part of the regression channel, and how consolidation was killing the potential for higher moves.
I will admit, I had a bit of patron tonight... and ES looks mighty fine here for a bounce on the fib!
Maybe it's the tequila!
Temporary bounce it was! We bounced up to that regression channel and sold all the way down to those lows from last Wed. that we need to defend.
We're setting up a nice base over the lows, this may give us the push to test that 1370 mark one more time. Maybe that's too easy, but a test and fail of 1370 would
confirm a lot of shorts.
Smart Move Is Selling Apple On iPad Announcement
Johnny-come-latelies in Apple (AAPL) stock may be setting themselves up to get their pockets picked by professionals.
Unless one has been hiding under a rock, it has been impossible to hide from the constant bombardment of the same tired news that iPad 3 is coming.
Professionals and individual investors play the much anticipated event very differently.
Professional traders marked on their calendars on March 2, 2011 to start accumulating Apple stock in early January, 2012 subject to overall market conditions. What was so special about March 2, 2011? This was the day when iPad 2 was introduced. Based on past patterns, it was reasonable to assume that Apple will introduce iPad 3 in early March, 2012.
A simple analysis of the recent data shows that Apple stock gains about 1.7% leading into an announcement and then falls about 1.3% in the three week period after the event.