Hey everybody,
I've been noticing that the patterns leading up to the fakeout rallies in March have been repeating themselves in numerous market-moving names- namely NVDA, MSFT, and AMZN. I think there's a strong possibility that AAPL goes to test new lows in the next two weeks, only to be met with tremendous buying pressure that will subsequently lead to a fakeout rally that could take it to around $150/share before the next leg lower(redistribution). I think this could push AAPL to the low 100's and possibly double digits by the end of Summer. I am expecting to play this both ways- I will buy any 52-week low made on AAPL in anticipation of a large countertrend rally, and I will subsequently sell the rip and possibly short it in anticipation of the next leg lower. Mind you AAPL is still very high up relative to some other names.
Disclaimer: I do believe we're at the end of a market cycle(a crash) and are simply redistributing before the next leg lower which should begin sometime around late July or early August.
I've been noticing that the patterns leading up to the fakeout rallies in March have been repeating themselves in numerous market-moving names- namely NVDA, MSFT, and AMZN. I think there's a strong possibility that AAPL goes to test new lows in the next two weeks, only to be met with tremendous buying pressure that will subsequently lead to a fakeout rally that could take it to around $150/share before the next leg lower(redistribution). I think this could push AAPL to the low 100's and possibly double digits by the end of Summer. I am expecting to play this both ways- I will buy any 52-week low made on AAPL in anticipation of a large countertrend rally, and I will subsequently sell the rip and possibly short it in anticipation of the next leg lower. Mind you AAPL is still very high up relative to some other names.
Disclaimer: I do believe we're at the end of a market cycle(a crash) and are simply redistributing before the next leg lower which should begin sometime around late July or early August.