Monday, November 26, 2007


Buy - 1 AAPL Dec 170 Put @ 5.15

AAPL looked overbought to me. I waited for it to reach the mid 177 area, which I thought might act as resistance. I bought it after it fell below 176.50. I was monitoring it closely, and might have closed it had it taken out the highs. But it never came back up to even test the point at which I bought it.

My first target is 170. I'll also be putting a mental stop on this if it decides to take off tomorrow. On a daily chart, it might have formed a shooting star, which is bearish.


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