AAPL – Apple Computer (Last:287.07)

AAPL looks like it will need to go lower for a running start to help Buffett and DaBoyz trigger off the next short-squeeze. If so, the 228.11 midpoint support shown in the chart will be an opportunity to try bottom-fishing. The pattern is too gnarly to attract the attention of the rabble, and the red-line support is nicely in the middle of nowhere. Accordingly, we’ll look to buy Apr 9 calls for under 1.00 if the stock gets within 0.15 of the target. This may require going as high as the 250 or 252.5 strike.  Keep in mind that the calls will expire Thursday because markets will be closed on Good Friday. ______UPDATE (Apr 6, 9:37 p.m. EDT): Well, we knew all along that Buffett and DaBoyz weren’t going to get hosed just because they own hundreds of billions of dollars’ worth Apple and iPhone sales are headed for disaster. The way they fist-pumped the stock today through the 259.68 midpoint Hidden Pivot shown in this chart, there can be absolutely no doubt it is going to at least 282.45. I am still predicting a plunge to well below $100 before this bear market is over, but Apple shares are going to 282.45 first. _______ UPDATE (Apr 14, 8:04 a.m.): The stock has traded as high as 279.70 overnight, coming within 1% of the well-advertised target. When it reaches 282.45, AAPL will have rallied by exactly a third from the March 23 low of 212.61 and will lie just 13.8% from its all-time high, on Jan 28, of 327.90.  An opportune place, by my runes, for the Masters of the Universe to take the money and run. Please note that I’ve used a one-off ‘A’ to project the target, but if it’s exceeded by more than 0.15-0.20, that would announce more upside to 286.86, which is derived from A=212.61. That would be a back-up-the-truck number for an rABC short. _______ UPDATE (Apr 14, 9:28 p.m.): After calling four of the last three tops, I’m due for a rest. The stock has exceeded my last target by a pathetic $1.18 so far, but even this small overshoot has left me less than wild about trying again. Did I mention 291.73 as a possibility? (Sorry, but I couldn’t resist.) On the 60-minute chart, it begins with A= 238.97 on 4/3 at 4:00 p.m.