Comments on: US Equity Market Outlook (video & static charts)

By: Franklin4

Franklin4 — Mon, 29 Feb 2016 21:06:42 +0000

In reply to rsotc.

I’d say it’s fairly certain AAPL will break through and head lower eventually, but it looks so round and basey here. And, as I’m sure you’ve noticed, AAPL tends to be the go to stock when they’re looking to push the markets around from key point to point. That and, in other news, TSLA recently ran out of shares to short, so a nice little pop over $200 might be on the horizon regardless of today’s shaky candle. I guess my point is that I, personally, wouldn’t crap my pants to see this run extend to new ATH’s… I might soil them a little, but that would likely be the extent of future underwear damage I’m looking at due to shock, and as I’ve got some stock in HBI I’m not really too concerned.

By: rsotc

rsotc — Mon, 29 Feb 2016 18:36:06 +0000

@franklin4 Maybe so although I will add that one of the reasons that I’ve held off adding back any short exposure on the broad market for weeks now is that AAPL has successfully defended the key 93ish support level on numerous occasions recently (where the last two long trades were taken). If/when that level is clearly taken out by AAPL, there’s a decent chance that it will drag the rest of the market down with it. Although I’ve posted two successful long trades in AAPL over the last 5 or so weeks (links below), I don’t care to go long again even if the stock can pop above the 99 level (next resistance) and start to rally as I only see about 10% upside potential as the most bullish “likely” scenario but quite a bit more downside should the market suddenly reverse.

AAPL official trade idea long entry from Jan 20th at 93.56: http://rightsideofthechart.com/long-aapl/
Price target hit for a 2-day gain of 7.4%: http://rightsideofthechart.com/aapl-price-target-hit-next-unofficial-price-target-is-104-95/

AAPL unofficial long trade entry from Feb 11th at 93.00: http://rightsideofthechart.com/members/rsotc/activity/2491/?no_frame=1
First profit target hit, booked 1/2 profits letting the remainder ride to the 100 area: http://rightsideofthechart.com/members/rsotc/activity/2641/

By: Franklin4

Franklin4 — Mon, 29 Feb 2016 17:49:50 +0000

Have a look at that APPL chart and tell me it doesn’t look primed to lead the markets into short squeeze rally territory. No way they’d make it as easy as reversing off the 200 average.

By: dan123

dan123 — Mon, 29 Feb 2016 16:51:14 +0000

Great work Randy. Thank you for sharing your thoughts on the market

By: Shambo

Shambo — Mon, 29 Feb 2016 13:10:43 +0000

In reply to covey. Thanks Randy, great video.

By: dmel

dmel — Mon, 29 Feb 2016 12:15:59 +0000

great stuff,Randy

By: covey

covey — Mon, 29 Feb 2016 04:41:04 +0000

Excellent video, Randy. Thank you for taking the time to share your analysis and thoughts.

By: Kstellish

Kstellish — Mon, 29 Feb 2016 04:19:05 +0000

Awesome work Randy! I really appreciate the attention to detail.