Thursday, August 9, 2012

another $AAPL setup

another setup im looking at for Apple is backed up by some fundamentals. stock is still struggling to breakout from the 620 level.. upcoming events for the Sep opex cycle will include the accidental / intentional "leaking" of the next iphone, the ramp up to the iphone, the cnbc constant talk about the iphone as the announcement draws closer, the parade of heads on cnbc talking about the iphone and how many it will sell before christmas, maybe even a china mobil rumor or news.. all this IMO will give some positive support to the stock, with the usual ups and downs along the way. and of course we are in the time of year where stocks tend to do well. ideally id like to be at/below the 570 level..the lows from the earnings selloff.. but also i am liking a level at/below the 50day moving average.
   remember in a previous post about having short calls from diagonals as a hedge..because i do indeed have short calls at 610 for sep, im liking this 50day level be right underneath it for the strikes.. gravy is the hedge from the short calls.. so ill be looking at the 585/590 level.. going for over $1.00 now and quick glance at the Trademonster Analyse tab shows it to be about 78%probability of max profit at opex.

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