I have long had a large holding of AAPL. However, over the past few months, I have gradually completely hedged my holdings...
I have recently looked for a turnaround in AAPL, but as readers here will remember, was unfortunately somewhat premature in my expectations. But I believe the technicals may now support a more substantial and lasting resumption of the long, historic advance
Starting tomorrow, I plan to begin removing the hedge (selling puts). I also took a small bet today on the earnings report with a purchase of calls. I may expand call pirchases over time, as I did through much of the last few years....buying relatively short-dated calls, and rolling forward as they expire.
FYI I am posting here an updated long-term weekly chart which seems to indicate that the stock has touched an important long-term trend line, from which it shoud be expected to rise....Also....for those interested in EW. .. I think the stock completed 3 major waves up between the 2003 low and the 2006 high. Since then, it would look like there has been a 3-wave A-B-C corrective move down, and the stock should now launch into Wave 5 up...an impulsive 5-wave advance... to a new high.
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