Aapl

The biggest obstacles to successful trading are the psychological barriers.

The most common problem for unsuccessful traders is the inability to cut losses and preserve capital. The #1 reason so many go bust. Psychological forces at work. Hope plays into fear and greed.

No one can be a successful trader if they can't limit losses.

 

unfortunately you bought it at the top...aapl has multi yr up and down cycles....it probably will bounce but how much?i dont think it will get above 130.I think from here it will drop anpther 30-50 points in the next 12 months.This is a momo stock for sure but maybe their decent product line will prevent it from getting smashed to 50.Stock was overhyped and no sell recommendations when it was at 200.Tech is the biggest suckers game and always has been.Can never fall in love with it.Take fast profits or cut fast losses.Never stick around in tech.Thats my opinion.

 

should i just sell and take the losses or be patient and wait for a spike (that may never come)?

 

I'm new to trading but I've been studying heavily into technicals.

Right now, AAPL is at an oversold level. The RSI is at 31 right now which is the lowest it's been prior to January. Support looks to be around $120 which was about the support in June, July, and mid-August of last year. I think this is the end of the AAPL correction, so I would hold.

Problem is that you bought at the high. I would hold until you can be more comfortable with your losses. Waiting until the holiday season of 2008 to sell would be wisest as more people will be buying the new iPhone, iPods, or the Air for Thanksgiving and Christmas.

 

RSI was 30ish at the 130 level and I thought that was going to hold. This market is not for this type of stock - the momentum tech stocks of last year are going to get killed. I say get out and preserve capital and fight another day. Best lesson I learned.. Do not fall in love with a stock , seems like you did with apple

 

what is it with these piece of shit stocks like appl or goog that everyone thinks there cheap and worth so much more ??? to me there all over price dogs with alot of fluff like the maker of sissy shoes crox ,, another pos stock !!!! jake

 

Aapl will bounce now but dont expect more than 140/150

 

aapl is up to $126.66 after hour. new business functionality for iphone. and analyst talk.

 

I wouldn't even think about buying apple until it gets above it's last major pivot point which right now would be around 132.

 

It'll get there. The buildup to next week's meeting and the current glow from positive analyst meeting, in addition to oversold conditions will propel Apple.