AAPL – Apple Computer (Last:273.85)

Apple Computer (AAPL) price chart with targetsAAPL is one of the very few stocks for which the May 6 “flash crash” became a corrective leg in a still-viable long-term bull market. That’s the good news.  The potentially bad news, at least for the intermediate-term, is that Monday’s high at 279.01 came within 1.85 of an important Hidden Pivot rally target at 280.86. If the stock feints higher over the next day or two, reaching that number, I recommend shorting a round lot of stock with a stop-loss at 282.01.  Although I am not bearish on Apple’s long-term prospects, this looks like as good a spot as any to attempt shorting the stock. ______ UPDATE:  We’ll put this one aside for the time being, since AAPL has worked lower.