I guess I should not have quoted you, coz i was not directly speaking to you..just in general about AAPL. Sorry.
I've already been doing it for longer than that and I'm still here. High volume is always late to the party.
A joke thread from the ET Jester, er I mean genius? (just kidding around LP, I'm sure your IQ is higher than mine whatever that means) Loaded with EEM Puts and reversed my hedge and went short @1525. This was nothing more than a bounce, and a weak one at that. The sox tried to break the down trend line but was unable to and left a hammer sitting there meaning a probably down day tomorrow. BKX hit resistance at 116 and wasn't able to penetrate. Yen indicating some elevated perception of risk. Vix still above 14 and IYR down 1.5% are some of the things I am looking at for confirmation one way or another, not to mention deteriorating market internals AD dropping, down vol picked up to swamp up vol in the last hour, RSI and Macd weak on this bounce and a few divergences in various indicators. Not sure how much more down side there is but looking for at least 1498 but potential for 1460-1480.
I never said to ignore volume. Volume is important BUT it is totally dependent on WHERE within the trend the volume occurs. The last three months we have been in a low volume uptrend. If the bears were strong enough they could pummel this market but they don't have the power. Low-volume extended uptrends are more difficult to reverse than high volume ones. When you see a high volume upmove in this trend it will most likely be a blowoff top and the market will reverse. At least that is what my market experiences have taught me.