It has taken the stock two weeks to return to lows where we cashed out of puts for as much as a hundred times what we’d paid for them a week earlier. The trade came off an appealing ‘mechanical’ sell signal generated by the pattern shown, and there is no reason why this pattern cannot continue to work for us. For starters, that means we can expect more slippage to at least p2=159.95 once the midpoint Hidden Pivot at 172.24 gives way. This looks unavoidable, although I don’t expect the dirtballs who manipulate AAPL for a living to go quietly into the night. The 164.90 downside target given here earlier remains viable and can be bottom-fished with a reverse pattern trigger interval of 4.50 points. Ask for guidance in the chat room when appropriate if you’re unsure about how to whittle this down to a reasonable number.
AAPL – Apple Computer (Last:171.96)