We’ve been using Hidden Pivot supports at, respectively, 205.72 and 212.77 as minimum rally targets, but I’ve shifted the perspective for today in order to suggest a bottom-fishing gambit. Specifically, I’ll recommend bottom-fishing p=197.14 by using a 197.17 bid, stop 197.07. If you substitute near- or slightly out-of-the-money call options, give yourself a little more leeway on the stop-loss, but make sure you’ve got one in place. ______ UPDATE (Apr 15, 10:07 p.m.): A bull-trap spike on the opening bar negated the trade suggested above, but the rally targets at 205.72, and thence 212.77, remain viable. _______ UPDATE (Apr 25, 9:59 p.m.): Sellers cracked a minor midpoint support at 205.34, implying that AAPL will now fall to at least d=203.91 in search of traction. Notice that this is a penny higher than Tuesday’s low, which could serve as a point ‘A’ for a counterintuitive buy. We can track it in the chat room if it triggers, so stay tuned if you’re interested. _____ UPDATE (Apr 28, 12:03 a.m.): Sellers trashed the 203.91 ‘hidden’ support flagged above, opening a path over the near term to as low as 200.35. Here’s the chart, which shows a secondary pivot at 202.68 where we might look for a bounce. If 200.35 fails as support, use 199.18, which looks well suited for bottom-fishing.
