We risked small change ($60) buying the expiring 190/195 calls spread 20 times for 0.03, but it is no longer even a longshot bet. Instead of reversing sharply and pulling the broad averages with it, the stock has continued lower, putting considerable drag on the market. The even worse news is that Wednesday’s decisive breach of the 161.60 midpoint support shown in the chart implies that more downside to 150.63 is likely. Even so, I am not recommending a mechanical short if the stock rebounds to the green line, since the C-D leg of the bearish pattern has developed so slowly. _______ UPDATE (Dec 23, 5:10 p.m. ET): The stock dove nearly $7 on Friday, slightly exceeding the 150.63 target before coming to rest pennies above it. I’d be surprised if AAPL fails to bounce from here, but we should be prepared for this nonetheless. Mr. Market denied us the opportunity to bottom-fish that we’d patiently waited for, but the risk of staking out a long position at Friday’s closing bell, especially against such an onslaught as we’d witnessed, was unacceptable. If you did so anyway, please let me know in the chat room so that I can determine whether to establish a tracking position._______ UPDATE (Dec 24, 10:16 a.m.): AAPL obliterated the 150.63 support, so it’s going even lower. Here’s a new target at 145.66 that differs slightly from the 144.82 target given in The Morning Line. It should work nicely for tightly stopped bottom-fishing, but be prepared for Mr Market, the sonofabitch, to touch it a few nanoseconds before the closing bell. Be careful using options. The Dec 28s are extremely pricey, with ‘implieds’ nearly twice historical stock volatility and shedding time premium by the minute._______ UPDATE (Dec 26, 3:35 p.m.):  AAPL has uncorked a spectacular rally today from a low at 146.11 that lay just 45 cents from the 145.66 target I’d drum-rolled here several times previously (including twice in headlines mailed out to all). The stock is up a whopping $8 at the moment, or 5.4%. I hope subscribers were able to benefit from the precise accuracy and timing of my forecast, as well as from the recommendation to buy calls on this morning’s opening if the ‘hidden’ support held. This advice was contained not only in the updated tout, but in an email you would have received Tuesday evening that bore the headline “A Last-Ditch Chance for AAPL to Turn the Tide”. _______ UPDATE (Dec 26, 6:39 p.m.): AAPL has been up as much as $10.37 today and shows no sign of fatigue. Regardless, we’ll set a high bar before we let ourselves be convinced the bear market is over. Specifically, let’s stipulate that the stock at least exceed the 184.94 peak shown. _______ UPDATE (Dec 27, 6:48 p.m.): Most immediately, the stock appears bound for the 160.57 target shown.