That was quite a reversal in Apple on large volume. Pretty much the final confirmation that the top is in. WSJ mentioned that it took Apple 34 days to move from $400 to $500, very reminiscent of the run the Nasdaq had in Feb/March 2000 when it made a quick run from 4000 to 5000. I looked it up and it took 37 days to do that, 35 for it to actually touch 5000 the first time.
Apple’s RSI 14 got to 88 yesterday, who knows how high it got intraday today. I remember in 2000 these tech stocks got to RSIs of 90+ and then flamed out but unfortunately stock charts has very few of them in their database and I can only remember a few. ARBA did get to an RSI of 86 on March 3??,2000 before topping out 2 trading days later.
Social network phenom stock ZNGA got blasted today, cratering 17%, another indication that the tech mania is ending.
Gimme FP’s that work over this hocus pocus any day Red. I like Tony Caldaro as a person actually.
Hey…how come I’m not on the list? LOL
Notice the little eye on top left hand side of his page. Leading sheep to the bull slaughter?
http://www.wavegenius.com/2012/02/09/my-list-of-the-top-5-elliotticians-in-the-world-and-the-5-worst-with-popular-blogswebsitesradio-shows/?utm_source=Copy+of+Copy+of+List+of+2&utm_campaign=Mid2&utm_medium=email
Copper support and resistance levels:
http://niftychartsandpatterns.blogspot.in/2012/02/copper-support-and-resistance-levels_16.html
They are their courtesy of hte N.A union.
Another graph from your buddy evil – really good one:
http://evilspeculator.com/wp-content/uploads/2012/02/there_will_be_blood.png
It looks like 34 trading days for Apple while my calculation for the 2000 Nasdaq was in calendar days.
That was quite a reversal in Apple on large volume. Pretty much the final confirmation that the top is in. WSJ mentioned that it took Apple 34 days to move from $400 to $500, very reminiscent of the run the Nasdaq had in Feb/March 2000 when it made a quick run from 4000 to 5000. I looked it up and it took 37 days to do that, 35 for it to actually touch 5000 the first time.
Apple’s RSI 14 got to 88 yesterday, who knows how high it got intraday today. I remember in 2000 these tech stocks got to RSIs of 90+ and then flamed out but unfortunately stock charts has very few of them in their database and I can only remember a few. ARBA did get to an RSI of 86 on March 3??,2000 before topping out 2 trading days later.
Social network phenom stock ZNGA got blasted today, cratering 17%, another indication that the tech mania is ending.
The hills have eyes…oh wait, there are no hills where you live…
Edit: The marshes have eyes 🙂
How will the mercs receive supplies and support?