Ripe for the Picking or Rotten to the Core

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Apple Logo

Frankly, we do not have a fundamental storyline answer to the above nor could we care any less about Apple, its prospects, or the related fundamentals upon which its story gains legend in the mainstream media.

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From our perspective, all that matters is the entry and exit strategies for each of the three timeframes in which we expose ourselves to its nominal price and the associated risks involved with prudently positioning trades that have the highest probability of capitalizing effectually on Apples fluctuating value.


Several weeks ago when Apple still traded above 600, we warned that a plausible top of major import might have occurred at the 705 all time high.

Apple Update

We also provided readers with a specific contingency instruction that would turn Apple back to the bullish side of the equation. You can refer to the entire article here.

The first chart illustrates Apple’s failed attempt to recover, reach, or maintain trade above our bullish contingency price, which we stated was to reside at trade and closes above 662.

In just over one month, from our Mid-Level-Account short entry at $609 on October 26, we have open profits in excess of 11%. The Mid-Level trade signal remains short with an ancillary revised bullish contingency for sustained trade and closes above 630.

Fueling the diversity and depth of our success, the next chart illustrates the efficacy of engagement via our short-term trading strategy. Reversing long for Apples attempted recovery rally, and booking more than an 11% profit in a months’ time, we shifted Short-Term Trading Accounts long from 559.21 on November 11.

Apple Short-Term Accts

On December 4th, just one day prior to Apple’s 7% one-day plunge, we booked another 2.9% in profits and reversed short at 575.44. After one day in the latest trade, we have in excess of 6% in open profit.

Who is guiding your portfolio?

Although adequately hedged shorter-term, longer-term we remain bullish and up more than 330% despite giving back open profits from peak equity. Our Long-Term Investment Accounts remain long Apple from a price of 122 via positions established on May 1, 2009.

Do you want to hold-hands and hear a good storyline – or do you want to make money?

We will humbly bow our heads in awe to CNBC’s fast-money crew, Jim Cramer, or any other advisory service or hedge fund who can illustrate that they have guided their audience/clients exposure to Apple more profitably than we have across every time horizon.

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The balance of our ongoing efforts relative to our individual stock portfolio performance is presented in the spreadsheet below the long-term Apple chart.


Technical Analysis ON-DEMAND:

For those who seek comprehensive coverage of this caliber, Elliott Wave Technology provides custom on-demand technical analysis for Stocks, ETF’s, Futures, and Mutual Funds. If interested in obtaining analysis for any of your portfolio holdings, you may obtain a sample and learn more about this service by clicking here. Otherwise, if you simply prefer making money to holding hands or hearing stories, you may wish to consider following our entire portfolio at the Chart-Cast Pilot.

 

Apple Long-Term

Apple Spread

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avatarJoe Russo - Elliott Wave Technology posted Friday, December 7th, 2012.

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