[I thank trader Mr. BachNut for alerting me to the contents of this post.]
The 1965 book, The Stock Market Secrets of Jesse Livermore, by C.M. Flumiani, provided a graphic picture of a classic speculative blow-off top.
Compare the components of Livermore’s blue print to the current chart of Apple. Talk about Cinderalla’s Slipper!
I am not predicting a top in Apple. Traders who have bought every break and held on have made a fortune. I cannot make the same claim on Apple. Many investors are committed to Apple for life. You may be right. Who am I to tell you that you are wrong? I’ve missed the last $200 advance. Yet, Livermore would be alert for the numbers 11 & 12 price moves for a sign that Apple could be shorted. Numbers 11 and 12 (with volume confirmation) may never come. But if they do, be forewarned.
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