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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (49724)	5/6/2013 2:56:49 PM
From: Fintas	1 Recommendation Respond to of 218660

And the apple investors were one entrenched gang. If one looks close at the names that are up one will see many of them are pollyanna. Media and others are doing a great job of talking many into the Dis etc but in the end Dis is a 50 dollar stock that will try to not make it's way to 42. Lots of them out there in the 18 sectors I see to the far right of the bell curve. It's great to look UP.. I love looking UP. But one best look further out to see how things are going to play out to not be caught looking up. A great ex is CAT. I own it and have a higher target but I was not surprised it rolled at the 114. I expected and anticipated it. Here and now Cat bounces but it will be awhile before I see my target of 134 or in fact the previous high of 114. Nor was I surprised Intc rolled at 27.75 and head for 20. Or JPM from the 45 back to the 33 and now back up to the 51 and soon to head back to 38-42. All the while maintaining a spx 1620 was coming but so too a nice retracement. We saw it drop once to the spx 1340 ish. It's bounced but Spx isn't going to 1900 without a healthy retrace. The fact one happened before the other i.e spx 1620 before spx 1300 ish doesn't preclude it from happening. It simply means it will take LONGER for it to play out. That's unfortunate to those who are piling in at higher prices or letting others pile in for them. UGH Regardless, HD will drop, so too Dis, so too Macy's, Spy, spx etc. And like Apple there will be bounces and resistance to the drop as many will not believe it. Until it happens and then it will drop from a safe downside target to a lower number as apple did from the 448 to the 385. Or GOLD from 1412 to 1335 ish Now that apple bounces, it's a can it take out 486 or 540 and if NOT.. see you back at a retest or the 385. Depending on what is going on at that time will determine if apple holds or goes lower. No rush for the patient. Just a matter of understanding and accepting the process. Have a good one. Fintas