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GET READY TO BUY 6-WEEK PUTS (OCTOBER?) ON APPLE COMPUTER.

|Includes: Apple Inc. (AAPL)

A TRADING EYE ON AAPLE COMPUTER

Aug 26 12:54 AM•AAPLComment!

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

I've been using Apple computers for several decades now. I am fond of the company. I don't own an IPhone and I may never own one. I will never own an Apple Watch. And I doubt I will ever own an Apple Car. I don't want 'wearables' of any stripe or brand.

I have been wanting to buy Apple Computer for some time. But I have not felt confident in the stock recently. I have developed a system that, I believe, will trade Apple very well, long and short. This trading, on my part at least, I will do with options, with perhaps two-month expiration.

My hope is to make trading Apple a kind of bread-and-butter experience. Look at the chart, and see if you can tell what I mean:

My interpretation of this chart is that Apple is a day or two from breaking down and heading lower. It has confronted overhead resistance at 112.34 and has not been able to get through it -- I think it will not. Apple should return to support at around 89. If that holds, then it will mount another test of upside resistance.

As it now stands, I expect Apple to come under selling pressure in a few days.

MJC, CGTS

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.