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Allan Harris
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After practicing law for way too long, I moved my family to the beach (Kiawah Island, South Carolina) to trade stocks for a living. After making and blowing a fortune in the technology bubble of the 1990's (and then again in 2006-08), I discovered the art and science of trend following. In... More
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AllanTrends
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AllanTrends.com
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The Constitution, The Declaration of Independence, and the Articles of Confederation
  • AAPL: Ripe For A Wave 4 Retracement 2 comments
    Sep 17, 2012 11:03 AM | about stocks: AAPL

    I love my iPhone, but AAPL is making new highs against a divergence in it's Elliott Oscillator making it ripe for a Wave 4 retracement. In this case, the divergence appears on AAPL's weekly chart and the target zone for a completed Wave 4 is $550-600. I am monitoring the Daily Trend Models for a reversal for Long to Short. If and when that happens, the set up appearing on the chart below will be triggered.

    (click to enlarge)

    Disclosure: I am long AAPL.

    Stocks: AAPL
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  •  
    I agree. Looking like it might hit $740 then pullback. Maybe post earnings?
    17 Sep 2012, 06:33 PM Reply Like
  •  
    I'll leave the fundamentals to others, but you may be right. AAPL is leading the financial news almost every hour, Reminds of the QCOM days of the late 90's. Note the similarities: http://bit.ly/PmfGYL
    17 Sep 2012, 06:58 PM Reply Like
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