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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	5/5/2012 4:33:57 PM
	3 Recommendations Read Replies (1) of 209892

AAPL #3,,,the advance from Dec... Gapped down Fri and broke below UT line from Dec....with failure of any S from either the UT or the 50dMA...DT from ATH remains intact, and a small steeper DT line was established..Next underlying S at around 545 and 520 appears to be of only minor importance, with more substantial S at the major UT line now around 465 and the lower consolidation area of late last year at around 425... There are no measurable TA continuation or reversal patterns apparent, hence it is impossible to reach any TA-based conclusions as to where the current pullback might end and reverse. Under these circumstances, given the risks here....and subject to individual personal situations.. the simple protective put hedge I have previously described would warrant consideration....The chart action since the ATH has been very generous in signaling and providing opportunities for the opening of such hedges..

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