AAPL – Apple Computer (Last:199.28)

No less than Comex Gold, Apple got shaken down on Friday by sleazeballs seeking to orchestrate value where normal market forces had failed to do the job.  This suggests that any further, manipulated weakness is likely to go no lower than the 199.32 Hidden Pivot midpoint of the pattern shown.  I’ll recommend bidding for 200 shares just above it, at 199.34, with a stop-loss at 199.19.  This is easy enough to be a Pick of the Day, but because the margin requirement is much higher than if I’d suggested buying call options, I’m presenting it as a regular tout. _______ UPDATE (1:08 p.m. EST):  The trade was stopped out for a nominal loss of around $30. The breach of the midpoint pivot implies more downside to at least 195.68, where bottom-fishing can be attemped again, stop 195.59.

Tagged as: AAPL, Apple Computer, Forecast