AAPL – Apple Computer (Last:181.69)

Apple’s flaccid behavior on Wednesday tripped a ‘mechanical’ buy at 174.65, a Hidden Pivot level shown in the chart as a green line. Although the stock looked awful, I will establish a tracking position nonetheless if I hear from at least two subscribers who did the trade. It would require a stop-loss at 172.44 that implies initial risk on four round lots of nearly $900. If the stock moves higher without breaching C=172.45, take profits on half the position at p=176.88, then hold the rest for a shot at the 181.26 target given here earlier. ________ UPDATE (March 8, 4:66 p.m.):  The trade has produced an $880 gain so far, although no one mentioned holding a position in the chat room. In any event, you should have exited half the position at p=176.88 per my instruction above.  Now, offer another round lot to close at 181.00, but make the order o-c-o with a 172.45 stop-loss on the 200 shares that remain. _______ UPDATE (March 10, 3:44 p.m.): The position racked up a further gain on Friday of $600 with a rally above the secondary pivot at 179.06. Sell another 100 shares when the stock opens Sunday night, keeping the last round lot for a shot at 181.00.  If you decide to hold onto it above that price, I’d recommended using a trailing stop no wider than $2.00. ________ UPDATE (March 12, 2:59 p.m.):  With this morning’s thrust to 182.20, AAPL has maxed out all minor targets, including one at 182.06 that I hadn’t mentioned previously.  It is shown in this chart, and I’d be surprised if buyers munch through it within the next 24 hours. If you held the stock from the green line and took profits as suggested, you’d have come away with a gain of around $1700 on four round lots.