The institutional chimps who are paid to rig this vehicle’s ups and downs have become so obvious about it that they’ve opened themselves up to abuse and insult by pishers like us. On Friday, we guessed correctly that they would open the stock with a poorly supported feint toward 160. They did, enabling many Rick’s Picks subscribers to buy expiring 157.50 puts on the opening for 0.50 that sextupled to 2.97 by the close. Two days earlier, the supposedly all-knowing, all-seeing ‘They’ pushed distribution shenanigans to the limit with a closing-bell stab at the green line, triggering a ‘mechanical’ short that would have produced a gain of as much as $9 a share for alert disciples of the Hidden Pivot Method. The stock now appears bound for a minimum 147.57, the ‘D’ target of the pattern shown, but be alert as always to a possible bounce from the ‘secondary’ pivot, p2=152.91. That’s where we can expect many killer bear-rallies to start in the weeks, months and years ahead. ______ UPDATE (Mar 15, 10:42 p.m.): The bounce from no man’s land between p2 and D is now impulsive on the hourly chart, so any trades over the next day or two should go with the flow. If this team effort makes it to the green line (x=163.58), which I suspect it will, that would trigger a ‘mechanical’ short similar to one that has worked for us very consistently in the past. However, if we attempt it, it will be with a risk-controlled entry, camouflage-style, on the lesser charts. Alternatively, if the stock surprises on Wednesday by diving, I would strongly recommend bottom-fishing at 147.57.
AAPL – Apple Computer (Last:155.16)
