Apple Update

BATS:AAPL   Apple Inc
As y'all know, I entered a position of 10 puts BTO in Apple on Friday. Price has been following/hitting my target boxes for some time now. We have a clear 3-wave move into this latest box, and it matches with my thought process on the S&P as a whole. Not to mention the 4HR MACD looks as if it is about to run out of steam. There is a chance we get another high up to the 0.786 retracement fib @ $192.17 before falling lower. The puts that I bought don't expire until August though, and the strike is right ABOVE the 1.0 extension down. This means I have plenty of time left on them, and if my count is right, is above the minimum price should drop too. If price ends at the 1.618, which is very common, then it should drop to $136.21. That's almost $20 below my strike price. Needless to say, I feel I am very well positioned for the upcoming drop.

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Bonam Fortunam,

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