Friday’s selloff exceeded the bottoming range we were using to set up a ‘counterintuitive’ buy signal. However, we can still attempt a ‘mechanical’ buy at the green line (750.90). I’ll recommend bidding there for 200 shares, stop 738.79, day order. If the initial risk of about $2400 is too steep, you can substitute four Dec 30 775 calls, but bid them conservatively. There is one more option that would be less risky than either of these tactics: Using camouflage to generate a buy signal if the stock falls to within $1.20 of the green line. I’d suggest using a chart of 15-minute degree or less for this purpose, with entry risk limited to about 20 cents per share theoretical. Ask in the chat room if you’re uncertain about how to proceed. _______ UPDATE (Dec 20, 11:53 a.m. ET): The day began with a gap-up short squeeze that left our bargain-hunting bids in the dust. Bullish targets given here previously still obtain, however, and you can use this pattern on the five-minute chart to hitch a ride via a ‘mechanical’ bid’: A=756.16 (12/19); B=770.50. _______ UPDATE (Dec 21, 7:12 p.m.): The ‘mechanical’ bid was a non-starter, but the following ‘counterintuitive’ trigger would have gotten you aboard for the last half of Wednesday’s recovery rally: A=764.33 (12/19 at 3:50 p.m.); B=774.39 (12/20 at 9:55 a.m.); C= 765.70). The stock stalled at p=770.73, but your bias should remain bullish in respect of the 775.76 target (see inset, a new chart). _______ UPDATE (Dec 26, 10:39 p.m.): The easiest trade I can foresee over the next two days would be to bottom-fish at the 747.54 target shown. Pivoteers mat have noticed that the stock could first be shortable ‘mechanically’ from p=760.97. I that trade were to pan outs, it would moot the question of how wide a stop to use beneath a 747.54 (or slightly higher) bid. _______ UPDATE (Dec 27, 8:08 p.m.): The stock opened on a gap higher, leaving our stingy bid in the dust. The result was an impulse leg that, because it exceeded a distinctive peak by an almost indiscernible 26 cents (see inset), could be tradable using ‘camouflage’. I’m am suggesting exactly that, but only after a second point ‘c’ low has been established to stop out too-early bulls. _______ UPDATE (Dec 29. 12:03 p.m.): The trade failed to trigger, so we hold no position.
