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BKX H&S?

If so, it would target the October 2nd low (click chart to enlarge):

BKX-1-10-19-09

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This entry was posted on Monday, October 19th, 2009 at 3:07 pm and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

32 Responses to “BKX H&S?”

  1. 'K says:
    October 19, 2009 at 4:29 pm

    With george buying apple products they might be doing fine. I want them to dissapoint.:D. Down with apples!

  2. Hank says:
    October 19, 2009 at 4:46 pm

    AAPL up $14 AH

  3. George says:
    October 19, 2009 at 4:48 pm

    If my “Ext.session” is correct, AAPL up to $204. Yeah!

  4. George says:
    October 19, 2009 at 4:50 pm

    K,

    I think my purchases just hit APPL’s accounting department. Two iPhones and one laptop in the past two months. Stores were crowded.

  5. George says:
    October 19, 2009 at 4:52 pm

    I’m taking my iPhone to the gym now. Did I mention I loaded 20 movies onto that thing? Yep, I’ll be joggin’ & bloggin’ at the same time. :)

  6. K says:
    October 19, 2009 at 5:08 pm

    anyone here owned apple? :P

  7. Mitch says:
    October 19, 2009 at 5:27 pm

    I’ve watched some pretty prideful people break down and buy the “bubble gum” iPhone over the crackberry. Crackberry people are supplementing their addiction with an iPhone. Btw, you can turn off the spell correct that makes your typing look juvenile.

  8. dave says:
    October 19, 2009 at 5:29 pm

    i did not notice it til now (because the NDX wasn’t really doing anything today to cause me to check) & this reflects BEFORE AAPL’s earnings announcement because cash NDX is 4PM.

    NDX did not NON-confirm today; it confirmed the move up while SPX non-conf.

    To me this means at least several days before a top.

  9. admin says:
    October 19, 2009 at 5:34 pm

    Hmmm…. So far, Apple and TI have not been enough to break the futures to a new high. The ES hit 1096.75 during the day before being dragged down by the sagging banks. And so far, after hours, have only been able to recover to 1096.50.

    That’s a bit concerning, though it is still early and the ES is in a bull-flag pattern at the moment. If the flag makes a 100% extension, with no further retracement from this point, the target is 1101.25.

  10. K says:
    October 19, 2009 at 5:44 pm

    1100 is R1 for futures Matt. just FYI.
    the pivot is 1088.

    Arent I glad I liquidated early last week. :D
    all I want is a break above to open tomorrow

    here is a link with the earnings
    http://chartsandcoffee.blogspot.com/2009/10/sunday-night-coffee-october-18-2009.html

  11. Mitch says:
    October 19, 2009 at 5:58 pm

    K that is a great link. Thx!

  12. admin says:
    October 19, 2009 at 7:15 pm

    I just published a page titled “Why Chart Patterns Still Work.”

  13. Mitch says:
    October 19, 2009 at 7:24 pm

    Matt, very nice! Thank you.

  14. admin says:
    October 19, 2009 at 7:28 pm

    Glad you like it, Mitch.

  15. K says:
    October 19, 2009 at 7:34 pm

    It Sucks!!

    Nah Just kidding! It reads like a story!!

  16. admin says:
    October 19, 2009 at 7:55 pm

    Thanks, K.

  17. K says:
    October 19, 2009 at 8:18 pm

    Apple surprised analysts today by saying it will have to pay to ship extra products to stores in time for the holidays.

    they sold 7.4 million phones in Q4, which translates to more than 20 million phones for the fiscal year, a 78 percent increase over the year before.

    http://paidcontent.org/article/419-earnings-call-apple-hints-at-surprise-product-in-time-for-the-holidays/

  18. K says:
    October 19, 2009 at 8:50 pm

    http://thereformedbroker.com/2009/10/19/crushing-earnings-estimates-theres-an-app-for-that/

  19. Stringm says:
    October 19, 2009 at 9:02 pm

    Matt

    Good work, actually excellent work, you captured the emotion of a trade. There will be a top and it will come like a thief in the night. I always remember your post that said when your inner being said I HAVE TO BUY THIS RALLY, it was probably time to short! Or maybe it was when you can’t stand it any more SELL SHORT this MOFO, you should buy! Good work. Your Darvocet induced observer.

    String

  20. admin says:
    October 19, 2009 at 9:15 pm

    Thanks String. I appreciate it; I know how hard it is for you to type right now.

  21. K says:
    October 19, 2009 at 9:22 pm

    http://www.hussmanfunds.com/wmc/wmc091019.htm

  22. K says:
    October 19, 2009 at 10:10 pm

    1125 by next week

  23. K says:
    October 19, 2009 at 10:14 pm

    Here is the K story for the rest of the year. remember it well.
    it doesn’t matter if we hit 1125 of my all time max of 1235 (not likely)
    we will retrace to a minimum of 900 is it hard? yes. 1020 950 and 900 are going to be 3 major supports.

    well i decided to sleep in early today. gotta recharge brain after this analysis.

  24. K says:
    October 19, 2009 at 10:24 pm

    this is K and the market.
    http://www.youtube.com/watch?v=BO2rW1alVv8

  25. Julie says:
    October 19, 2009 at 10:54 pm

    Grandfather always says that he wishes he and
    his team did not have anything to do with
    developing the cell phone. He hates cell phones.
    And I wonder where we are when the market
    and Apple depends on how many cell phones
    Apple sells.
    It would be nice if we made and sold other products
    in the USA.
    K, where does Apple make its cell phone?

  26. George says:
    October 19, 2009 at 10:55 pm

    Matt, your article reinforces my trading style. What I use is as old as the hills yet effective. Seeing confirmation that these patterns are still viable gives me relief and confidence that what I’m doing is okay. I often wonder if patterns will change character, but I haven’t noticed anything abnormal except that some appear to be broken until hindsight proves differently.

    Tks

  27. Hank says:
    October 19, 2009 at 10:58 pm

    K, George,
    CNBC now has a real time APP including extended hours, news and videos

  28. K says:
    October 19, 2009 at 10:58 pm

    Julie,
    China to the best of my knowledge

  29. Julie says:
    October 19, 2009 at 11:03 pm

    Thanks K.
    I guess the DOW would be at 20,000
    if Apple made them here.

  30. K says:
    October 19, 2009 at 11:11 pm

    Julie,
    here’s more info on it
    http://www.allroadsleadtochina.com/2007/08/15/iphone-made-in-shenzhen/

    now you wonder why emerging markets are doing good?

  31. Julie says:
    October 19, 2009 at 11:14 pm

    Short interest on the NYSE continues to drop.
    When the move down finally starts, the market
    will have very little fire power.

  32. Julie says:
    October 19, 2009 at 11:17 pm

    K,
    Thanks for the link.