The final pieces of the Apple analysis (if thats what you want to call it) are now in place.??? However, there is a gapping flaw.?? It assumes that AAPL will actually rise!?? LOL?? As mentioned yesterday, we missed being triggered in on the buyside by 20 cents, and it has subsequently fallen back, and likely will re-test its lows.?? But let’s be optimists here, and put on?our rosy coloured sunglasses.?? If indeed, $117.27 proves to be the low, and we get our Reverse signal to trigger, the targets as depicted on the chart will be where I make my trading decissions.?? As a rule, unless a market is extremely strong, (or weak) the 2nd target is usually about the end of the run.?? So in this example, even though the ultimate prize is the 50?etracement level, the $141.30 2nd target area is a more realistic expection, BUT ONLY IF WE GET OUR FIBWIT REVERSE TO TRIGGER!?? Just for fun, let me check to see if that $141.30 level is the 38.2?etracement… hold on a sec.?? Nope, it’s about $150.00, around my 3rd target.?? That itself is quite interesting, Apple maybe a lot weaker then previously thought!?? COME ON YOU BULLS - YOU CAN DOOOOOO IT!!!!

The other thing I wanted to bring to your attention are these two Poweshares.?? I learned of them only last week myself.?? These just perhaps could be a viable way to play the wild - exciting - fortune making - account killing - can’t sleep at night - limit up/down - margin call filled world of commodity trading!?? Remember last week Wheat limit up 5 or 6 days in a row?? Forget that noise!?? You are now either driving a new Beamer, or living in a nice new shiny cardboard box under a bridge somewhere depending on which side you were on.?? That was really a horrific event and I don’t mean to make light of it.?? Many many people were seriously hurt by it, not just speculators, but farmers, producers, and FCM’s.?? It does however illustrate the point that in the highly leveraged world of commodities, “one minute you’re up 400k in soybeans, the next they’re repossessing your Bently and the kids aren’t going to college!” LOL..great movie, Trading Places, sorry ’bout that.
Anyways, these Powershares I think, are a great way to get exposure to the commodity markets.?? Their symbols are DBA and DBC?? Check out the charts below, I’ll start tearing them down next week, see if we can’t find a trade.?? In the meantime, ask your broker for more info. on them and get a more professional opinion as to their suitability in your portfolio.?? Have a great weekend all!
First, DBC
??
… and DBA
??
TTFN

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