GOOG I-Watch

8/02/2006

More tech surprises


What looked like a breakdown in the making with AAPL (50 was major support after all) may turn out to be the year low as technicals got thrown out the window in one afternoon along with the shorts (and more shorts at 60) on no real news (again). I would've guessed the one tech volatile enough to do that was GOOG and not a trender like AAPL. But the trend for both of these was always up and that still hasn't changed (yet).

3 Comments:

Anonymous Tommo_UK said...

I'm sorry, but your analysis is mainly garbage. Your much-vaunted "death cross" marked on the chart is no such thing. A "Death Cross" is defined as when the 50-day crosses the 200-day AND WHEN BOTH ARE DECLINING. Clearly, the 200-day was still climbing, so there was no Death Cross, just deathly lazy analysis.

Secondly, to say that AAPL bounced off the lows on no news is farcical. If you don't know why it bounced, you shouldn't be trading this stock. Hint: something to do with Apple capturing 12% of the laptop market following the launch of its new MacBook, just 4 months after it hit 6%. Second hint: something to do with AAPL recording a 43% rise in YoY revs/earnings, with a forward PE of just 20.

Get the hint? Good lord.

8/06/2006 2:12 PM  
Blogger Tequity said...

From Investopedia.com:
"Death Cross" A crossover resulting from a security's long-term moving average breaking above its short-term moving average or support level.

Looks like you're adding some to the definition. I don't care which way it goes or the geniuses who always look back and think they know why. Hindsight is always so obvious with them. I said a month ago it was headed to 50. But this bounce was a surprise and plenty of pros got caught trying to short it at 60 (not me). GL

8/06/2006 9:36 PM  
Anonymous t_sirrus said...

No offense tommo, but AAPL did bounce off the 50$ before ER...

8/07/2006 10:21 AM  

Post a Comment

<< Home