Yeah, I know I kissed off Apple in today’s commentary, what with the thrashing it’s receiving in after-hours trading. Still, I’d be remiss not to feature the 595.86 midpoint support of the savory pattern shown. Apple believers will of course have a great opportunity to turn things around there — and we, to get long using call options. Accordingly, if and when the stock gets within 17 cents of p, buy two August 640 calls. This is a shoot-from-the-hip strategy, but I hesitate to have you do it the easy way, buying shares, since 200 of them will set you back more than a hundred grand. Stop yourself out of the calls if the stock trades 595.64 or lower. _______ UPDATE (11:16 a.m. EDT): Where to begin? For starters, the 595.86 midpoint had already been obliterated when this tout went up, although it wasn’t evident on the regular-hours chart that was the source of my hallucination. Then there was my reference in today’s commentary to a Sep 640-Aug 640 call spread that I was canceling; in fact, it was the 650 strike that had been recommended. And so on, and so forth. Perhaps I haven’t been getting enough sleep? In any case, my apologies for any confusion I may have sown. Also, for what it’s worth and notwithstanding the fact that Apple has fallen $50 from its July peak, the stock’s daily chart has yet to see the creation of a bearish impulse leg.
