AAPL – Apple Computer (Last:147.92)

I’d expected AAPL to struggle last week, but the rally was more labored and modest than I’d imagined. We’ll use the 153.86 target shown as a minimum upside objective for now, since the reverse pattern from which it is derived has worked well so far, nicely catching reversal points in both directions.  It is exhausted for purposes of ‘mechanical’ set-ups, but you could put in a ‘mechanical’ stink bid at p=146.07 nonetheless, using a stop-loss at 143.53. You can also short 153.68 using the tightest stop-loss you can abide. This post returns AAPL to the core list of touts that appear on this page regularly. It has replaced IWM. ______ UPDATE (Nov 11, 11:09 p.m.):  The trend failure 69 cents shy of my 153.86 target is not a healthy sign.  Most immediately, more slippage to at least D=145.95 looks very likely. Here’s the chart, which shows how sellers trounced p=149.19 on the way down.