Tuesday, March 5, 2013

The Daily Note - An $AAPL Target on the Head.

*****I'm not talking William Tell's apple on the head I'm talking about the target on AAPL's chart. I sometimes have trouble comprehending some comments about my articles. Somehow many miss the fact that there is the word "DayTrader" written in the title on  this blog and in my Twitter name too. Seems some new readers of my posts have the assumption that 2 years ago I called a short on $AAPL when what I was writing about is the possibility of problems due to the fact that Steve Jobs and AAPL were inseparable commodities. Like hand in a glove, they went together, one was almost never mentioned without the other and it's why I wrote "When Caesars Fall" back in March 2011.

Then later when in August 2011, Steve Jobs unfortunately had to step down,  I again wondered about AAPL's  future in an article called "AAPL vs AAPL" . These were thoughts and opinions and were not written to make anyone buy or sell AAPL for the long or the short term.

I often share my thoughts about what I see on the charts with anyone who wishes to view them and have been doing so for many years. It is in hopes that I can pass on what I've learned over years of staring at charts. I've  claimed no exclusive knowledge about anything, although I may joke about being psychic,  I also believe that knowledge is there for the picking for those open minded enough. (I'll save that explanation for another day). Hence I continued to write on what I observed about AAPL and saw on the charts.

Obviously if I wrote daily on the subject some might think me obsessed, but daily I observed the charts regardless and wrote consequently as I felt compelled. My articles all reflect my thoughts at the time written. Almost exactly one year ago I found myself wondering if like some financial institutions was "AAPL Too Big to Fail?" Then more frequently in recent months as the pattern unfolded more obviously. On which subject you will find "$AAPL Dancing in a Burning Room" that is when many were still calling it long, followed by "What Now My $AAPL?" Then in answer to those who thought it could never happen with AAPL and told me so, I wrote "$AAPL A Story of Highs and Lows" explaining what historically happened to many companies and what I saw on the chart as possible realities.

Lastly, before writing "$AAPL A View to a Kill", I wrote about the romance of AAPL stock in "$AAPL My Funny Valentine."  only speaking of what I see on the charts and why I think it's happening.

Yesterday's article may have been a bit boastful but hey, I along with everyone else admit to being happy when I'm correct. It's in the nature of us all to brag a bit, but also I pointed out that if you know what your are looking at, it becomes easier to stick with a trade be it daily, weekly or yearly.  Then perhaps you won't follow a person like Zacky who obviously was not too big to fail either. In reality, no company nor anyone is immune to failure and that is why I prefer to teach traders to be leaders rather than following one.

I like to welcome all readers to my site and I don't take offense to comments as long as it can be a discussion and not a drive by. Discourse is one thing, disrespect is another; we all work hard to be traders, no one has it easier than anyone else.  If you had it right and rode AAPL up from 350 to 705, kudos for you, so go on and boast about it, likewise if you  rode it down all the way from 705 or know the bottom.

Is AAPL's story over? By no means imo, I take it one step at a time however, because it helps me focus on consuming the elephant.  I already went on record what may happen if we lose the 420.  I am not the only one talking about it anymore either and usually my flags go up because as my saying goes, "when everyone joins the parade, it's time to become a spectator".

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Happy Trading, Living and Dancing

The Daily Outlook $AAPL

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