AAPL’s sucker rally has come from a technically inconvenient place somewhat above an authoritative trendline, but this only mildly diminishes the likelihood the stock will revisit the lows and test them unsuccessfully enough to reach the line. In the meantime, though, we should be ready to exploit a rally to around 145, where a second trendline with presumptive stopping power comes in. More immediately, the hourly chart says full speed ahead to at least 136.77 (A=124.76 on Jan 5) over the near term. You can short there with a vertical put spread expiring within 4-9 days, but check the chat room for more-specific guidance if the opportunity looks close. ______ UPDATE (January 17, 10:35 p.m. EST): Subscribers reported buying the Jan 20 132/130 put spread for around 0.20. For now, offer half of them for 0.45, good-till-canceled.
AAPL – Apple Computer (Last:135.95)