Stock Market Intraday Chat: Apr 30th - May 4th - Page 16

I'm not too sure about Facebook, 110 billion dollar company. Valuation must be factoring tons of growth. We've seen what has happened to basically every social networking IPO. 50% drops within the first year mostly?

 

If anything, social media funds will need to divest from these other stocks to get into Facebook. If its being weighted by market cap.

1375 ES for support so far.

Important support around 1365 area for ES.

Close below this level would be very negative.

Does BAC look like an appetizer after i've been drinking right now?

Just a short play for a few bucks next week?

This BAC 7.70 is critical.

 

Before BAC ran to $10, I thought that it would lose that 7.70 support and head back to $6.

 

I still think that.

 

 

If that cracks and i think it will 1366 next target.. 

looks like it broke support and going to 7, but the time to short was at $10. I don't like the risk/reward.

 

I like LNKD, CMG, CRM as shorts.

Seeing a few tweets about that SPY 137.30 gap fill... we might run out of downside momo before getting there. SPY volume was pretty robust off the open compared to last 1-2 wks, but has trimmed back a bit... need to see more volume on next downside initiative IMO to get that gap fill today. I'm seeing ES S2 at 1372.75, so we are holding just above a key level here, all about the volume for me right now.

most stocks holding up better than i expected. No shorts here. If this bounces could be a decent play.

AAPL .00 Print as LOD at $570.00. Oh boy.

AAPL 570.00 LOD you know what time it is

ED: barely had time to post it before it broke. AAPL has been flashing a ton of .00s recently, obviously almost all lows, but the bounces which in past months have been bigger and longer (3-6 bucks, 15-45 minutes) have nearly been vaporized, not even bouncing a dollar much of the time now. Makes it tough, nay, impossible to employ the strategy.

Big money has sold into every good AAPL bounce since coming off the 640 level.

Short term downtrend has not been broken.

A close today near the lows would be very negative.

550 - 540 area may still be tested.

The double top formation on the /ES worries me but thankfully volume hasn't been large enough for me to believe we are about to spiral down. Hopefully we climb back up and make some new highs, at least break the high on the last top that was formed in mid March. The funny thing is that we had two mini double tops there and then we fell and were stuck in a sideways channel for about two weeks in April. Maybe we will get another mini top like we got in March before having a major correction?

I expect a bounce to 1410 by the end of May.

Agreed... have been tempted to put on small longs but not doing it yet, the price action has been too clearly down, almost got short off the first bounce at 9:45-9:50 but missed it. Internals are not showing as much conviction as we're used to seeing on a solid red day. Of course it could turn into a trend day down, it looks like one so far, but the chance of a tradable bounce today seems reasonably good. One good thrust from around here should fill that 137.30 SPY gap though.

apple now has a p/e of 13.9 and 9 dollars away from the close of the day of earnings.

 

I stupidly held on and have watched my profits evaporate.

 

Looks like the stock market isnt for me and the house always wins in the stock market casino.

 

Ive been holding on in the hopes it reaches 614 but I dont see that happening at this rate apple will have a p/e of less then 10 and be under 500 dollars a share.

 

Time to cut the cord and keep the money I still have. I thought apple was a good company and a good stock to invest in, I apparently was wrong.

It is, perhaps the best. But you are trading it Nate. If you are still in it on margin, sell enough soon to settle your margin debt, then have some patience, if the market isn't for you, stick your AAPL in a time capsule and come back in 2 yrs, it should be in 4 figures by then.

The axe-murdering of crude is quite a sight to behold.

ED: jeebus, transforming into a catastrophic nuclear meltdown.

Maybe Im missing something but if its such a great stock why does it go down everyday?

 

NFLX and RIMM went down nearly everyday from their highs and they havent returned.  Im sure investors were holding in the hopes the price returned to those points.

 

I was wrong on apple. I admit that. It looks like the multi year rally has ended.

 

 

I say this with all the sincerity in the world ..... it's not personal whatsoever, but you're dart thrower.  You have shown no inclination to better understand the markets nor have you brushed up on any technical analysis whatsoever since you've been on this forum.  I don't think the stock market is right for you.  Unless you wanna do a full 180 degree turn and start educating yourself.  Otherwise the game of throwing darts at big names is just going to get you nowhere.  It has nothing to do with whether AAPL is a good company or not ..... but even insinuating that they're not because you mishandled your money is a bit naive.

Out at 1.50