Couple points of interest with regards to AAPL:
50 day MA = resistance
Magic orange line = resistance
Selling pressure in the 105-120 range = resistance
17% bounce off of intermediate term support = ready for pullback
The news about WalMart selling the iPhone is old news and this will not happen before Christmas anyway. I would be more inclined to short AAPL, ignore the news, and place a stop above the magic orange line in case this half-assed bear market rally makes another run for it.
Showing posts with label 50 DAY MA. Show all posts
Showing posts with label 50 DAY MA. Show all posts
Tuesday, December 9, 2008
Apple
Thursday, May 1, 2008
Are commodities bursting or pulling back?
There's been more talk recently about the commodities 'bubble' bursting. This chart (DBC - commodity ETF) would suggest there might be a leak in the bubble but the rounded top doesn't suggest that any bursting is going on. This is a chart of DBC and it's components can be seen below.
Year-to-date, DBC has done well bouncing off of its 50 day moving average, which may present a good entry point - needless to say it's back down near it's 50 day MA. If you use moving average as an entry point make sure to place a stop under said MA. If this level is breached (your reason for entering the trade) then you should exit the trade immediately.
Keep in mind that this is primarily a commentary on the chart - there are a lot of fundamentals that need to be considered. A large portion of DBC is made up of gold and oil so if your outlook on these is bleak, steer clear. Personally, I don't like the outlook on gold and nobody can predict oil. 'Expert' estimates still range between $80-$140 / barrel. Bottom line, if you choose to play DBC wait to see if it bounces off the MA, not before.
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| DBC - TOP 10 HOLDINGS ( 107.81% OF TOTAL ASSETS) |
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In terms of the broad market, keep this on the radar.
Current Put/Call Ratio:
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