AAPL Follow Up

I still think AAPL is an interesting, but speculative short term short position. I'd think you'd need some leverage, I'd prefer a weekly option, but perhaps next week's expiration.

Here are the AAPL charts (see yesterday's coverage of AAPL and the bigger picture as well).

 AAPL daily 50-bar m.a. as resistance

 Hourly 50 bar as support.

 Momentum has fallen off since yesterday with momentum, RSI and MACD all going negatively divergence and Stochastics breaking below its embed.

 The 1 min chart did not improve at all yesterday or today

 Nor did the 2 min

 or 3 min

 or 5 min

Even the 10 min is negative here.

I don't see this as a position or longer term trade, more like a quick swing that probably needs some leverage to make it worthwhile. You might consider waiting for a break below the 5 min 50-bar average, but I don't mind it here at all. THIS IS A SPECULATIVE TRADE AND RISK MANAGEMENT SHOULD REFLECT THAT.