Friday, May 17, 2013

AAPL

AAPL still has some short term INTRADAY gas in the tank, but the first run off an earlier divergence ran in to sellers right at yesterday's close, the 3C distribution is evident. The 3 min chart that was positive has fallen apart pretty badly so I'd say if AAPL can put together any afternoon momentum, it will almost certainly  be a gift for anyone looking to enter AAPL short equities, as for Puts, I'd like to see some real upside momentum, but all in all, this is just a temporary blip as AAPL will be heading back to its primary downtrend.

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