Thursday, January 24, 2013

The Daily Outlook - What Now My $AAPL ?

***** Once again I want to reiterate that, from my experience, patterns tend to be relentless and therefore they win in the end. If you wish to fight them do it with caution. I don't claim that there are no exceptions and detours but eventually they do win out.

I remember a couple of years back going through the same arguments with the chart on AAPL where many comments were to the upside and I kept seeing a need for a completion to the downside,  once that hit, the longs were correct, but it took a couple of weeks to play out. I guess what I'm trying to say is that it's not about being right it's about following the laws of "nature". So don't become impatient, look for the reason why a run is not acting your way, there is something there on the charts which may open your eyes.

What Now My Love by Frank Sinatra on Grooveshark

Happy Trading, Living and Dancing

The Daily Pick - $AAPL

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1 comment:

Anni_V said...

You drew up the chart basically how I would draw it.