I’ve returned AAPL to the list temporarily because a rally to the 198.03 ‘reverse target’ shown in the chart would set up a juicy shorting opportunity. It could take a couple of weeks for the stock to get there, and you can trade it from the long side until that happens, but it promises to be worth the wait. For now, the company’s aggressive infusion of buyback helium has given AAPL an artificial boost. Considering the $110 billion sum involved, it might seem as though this is the last stock anyone should want to short, even if the company is an innovative has-been in the same dubious pantheon as Disney. Buyback aside, the chart says AAPL is going to repeat Garbo’s ominous cough in the second reel of Camille when it gets to 198.03. Stay tuned to the chat room and/or your email notifications, especially if you’re new to Rick’s Picks or have never in your life experienced a winning option trade.
$AAPL – Apple Computer (Last:189.87)