Well you can't say we didn't warn you. OK, technically you could but that would simply expose you as a follower who wasn't paying attention. Right? It was an easy call really. When all the world is suddenly predicting a $1,000.00 Apple, there has to be a snake in the garden. Or at least a worm...
Apple stock has lost 8.7% over the last five trading days. What does that have to do with Emini Futures? Apple’s 43% increase this year has added 15% to the S&P 500′s total return. Is the sky really falling? No. This is all so long overdue it's almost anti-climactic. But it is what it is... a reality check. And in a world where an iPhone App (Instagram) has a larger market cap than the New York Times, we desperately need a dose of real.
We all have our favorites right? The Doji, the Hammer, the Shooting Star.
Riddle me this Candlestick Wizard -
How do you spend 16 hours inside a 1 hour candle?
S&P500 Emini Futures 04/16/12
Just like that. Unusual? Define usual...
Does this look like a scared market? Not at all, more like a stunned market. The Sacred Cow of Tech can do funny things to even the steadiest trading hand. The recent losing streak has wiped out about $60 billion of Apple's market value.
How much is $60 billion?
More than the most optimistic projections of the value of Facebook.
60 times more than the Old Gray Lady's current value.
Is life in the Garden over? Far from it. From the sweat of our brow and through the pangs of start-ups, there is much, much, more to come.
S&P 500 Emini Futures
Do you believe that history repeats itself? Are you the type of person that spots patterns all around you? Even in the most mundane of things? I know this pattern has not changed in over 2 years. Honestly, I don't believe it ever has, in all of market history. I do know that if you want to trade, I can teach you how to spot this pattern and trade it. Over, and over, and over. If you're up for the challenge - APPLY!
S&P 500 Emini Futures - The Song Remains the Same
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