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Thread: The June 2013 Swoon

  1. #1
    Limit5Bass is offline
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    The June 2013 Swoon

    The June swoon is in!!! Or is it? Well regardless, as the market corrects, now is the time to be adding looking for stocks on sale that you want to add to your portfolio. Just because a stock goes down does not mean its a buy, have a plan. Here's my plan with AAPL - watch to see if it holds it's recent low of $385 on this downtrend, wait for the uptrend to resume, then pounce. Here's my chart. Tell me your thoughts on Apple….

    AAPL 2013-06-20.jpg

  2. #2
    SiriusBuzz is offline
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    I have a pile a cash and I'm ready for the sale. Bring it on.

    As far as AAPL goes, I'm at a loss. Anything under 500 seems cheap to me given their position -- 385 sounds like a steal.
    Charles LaRocca
    SiriusBuzz Founder

  3. #3
    Limit5Bass is offline
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    I think the key is to be patient with Apple and wait for a couple day rebound before making any purchases, especially in these market conditions. I have been waiting for a re-test of the $385 - $400 and it is here…..now to be a little more patient and see how it reacts once it's down here again…..

  4. #4
    Limit5Bass is offline
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    Here are a couple of potential Elliott wave charts for Apple, the first one shows the bottom is in, the second chart reflects a lower bottom coming up……the key is to hold the prior 52 week low of $385.10.

    AAPL 2013-06-26.jpg

    AAPL 2013-06-26(2).jpg

  5. #5
    Limit5Bass is offline
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    Do you "like" Facebook? Well. if not, you may want to take another look at their chart. These are some trend lines that I am watching and trading (red are resistance, green are support, purple are gap-up areas and blue are channels - standardized colors for all my charts). The first chart is since FB's IPO. The second chart I zoom in on the uptrend starting from 17.55 and the current downtrend.

    FB 2013-06-27.jpg

    FB 2013-06-27(2).jpg

    The uptrend and downtrend on the second chart could be seen as a wave 1 and 2 from an Elliott wave perspective.

    I am watching (and buying) near the green support line. FB Currently seems to be forming a corrective triangle pattern of some sort. The least risky play is to watch for a re-test and bounce from the green support line before making any purchases. I would think at least 1 more retest of the line will happen - if it holds or breaks will determine FB's next short term move IMO.

  6. #6
    Limit5Bass is offline
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    Do you own a pair of UGG boots or slippers? I think most people do by now - i know i love my slippers! ….so why does DECK keep rising? Don't know, don't care. The chart tells me when to buy and sell. DECK was a buy a few months ago, and looks like it could be setting up for another add-on opportunity.

    DECK 2013-06-28.jpg

  7. Ad Fairy Senior Member

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