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Thursday, December 06, 2018 12:57:41 PM
By: Clive Maund | December 4, 2018
We have also been waiting on a bounce by Apple so that we can do Puts in it again (our small tranche of Dec $195 Calls are set to expire worthless). We have had a bounce of sorts, and it now looks ripe for shorting again, after it put in a pronounced bearish “hanging man” too yesterday, made more bearish by it also being a “doji”. Apple’s chart continues to look awful, which is hardly surprising as Apple’s future is looking increasingly grim, with sales of its overpriced products looking set to plummet in the face of stiff competition as the global economy tilts towards recession / depression. Suggested Puts are the Jan 18th $180’s (ask $4.30 last night’s close, will be marked up at open) or cheaper and with more leverage the Jan $170’s (ask $1.80 last night’s close, will be marked up at open).
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