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To: penpen who wrote (199670)9/14/2012 12:02:19 PM
From: jjstingray
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Nothing reallly to say. I am tracking AAPL by the breakout of the channel. I think the next target is around $710. That would be the channel breakout target from this chart I posted a couple of days ago. Henry can correct me if I am wrong. I just don't see 736 for a while, so I think $710 could be the next stopping point.


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To: jjstingray who wrote (199679)9/14/2012 2:34:16 PM
From: sandeep
   of 209838
 
It is all in the timeframes. I don't know how you get 710. I think 700 will be a strong barrier - once through, the sky is the limit.

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To: sandeep who wrote (199680)9/14/2012 2:40:52 PM
From: Henry J Costanzo
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It's all in the continuation patterns, and the only one out there is indicating 736…..

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To: sandeep who wrote (199680)9/14/2012 3:20:38 PM
From: jjstingray
   of 209838
 
$710 is the target based on the breakout of the channel. Take the height of the channel and extrapolate it from the breakout point. That gives you about $710. My guess is it tests that level at some point before moving up in earnest.

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To: Henry J Costanzo who wrote (199675)9/14/2012 3:32:28 PM
From: Cathedra
   of 209838
 
Henry, could you take a look at MET? Thanks.

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To: jjstingray who wrote (199682)9/14/2012 3:57:55 PM
From: penpen
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JJ, will today's price action have an impact ? I see an inverted hammer. Trying to understand here. TIA

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To: Cathedra who wrote (199683)9/14/2012 4:20:23 PM
From: Henry J Costanzo
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MET breaking slightly above major DT line and…possibly … a bullish pennant…I'd like to see that confirmed more decisively before calling for much extended upside here…Also, note band of heavy R just overhead form around 37…..Looks promising, however, and well worth watching…

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To: Henry J Costanzo who wrote (199681)9/15/2012 10:40:41 AM
From: hawkeyefan
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AAPL did not confirm the new highs with new or equal highs in the RSI. Now this doesn't mean the RSI will not keep going up. Does one question the rise if the RSI would flatten out or wait to have it turn down before suspecting a problem?

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To: hawkeyefan who wrote (199686)9/15/2012 11:39:12 AM
From: Henry J Costanzo
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I am very dubious about the worth or usefulness of the huge array of measures in the "indicator soup"…an array of contrived derivatives forming no part of EWTheory or Classical TA…

The only such derivative I have watched at all is the RSI…although I question the emphasis it places on end of day prices. I have found often useful the appearance of a positive divergence…where new price lows are not matched by new lows in RSI…Much less useful…if at all..is the negative divergence…where new price highs are not matched by new RSI highs…We have seen many instances where the latter can persist for months, with no adverse impact on continuing uptrends…

Think I may go back to forgetting about "indicators" and stick with price and volume TA…and wave structures EW…-vbg-

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To: Henry J Costanzo who wrote (199687)9/15/2012 12:04:51 PM
From: hawkeyefan
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{the huge array of measures in the "indicator soup"…}

Yea, I know there are all kinds of them, but your comment made look at stockcharts.com and check some out.

There is one called the Ulcer Index. I had not heard of it before, but I think I must have used it a time or two. -g-

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