Just a small push this week will bring AAPL up to the green line, where it would become a promising ‘mechanical’ short. I would expect a profitable pullback to at least the next level, p=187.47, but I doubt the stock is ready to fall into the abyss. To remind you: The green line (x=193.54) is not a support, resistance, Hidden Pivot or target, just a place at or near which we sometimes initiate trades. We’ll look for an opportunity to do so with a risk-averse ‘camouflage’ set-up when the stock reaches the line, presumably on Monday if Friday’s nutty wilding spree continues.
AAPL – Apple Computer (Last:191.50)