Higher Levels Exposed

Yesterday's plan worked perfectly -- now onto today's.

There was not as much follow through to the downside as I was expecting.  This leaves higher numbers exposed to a retest such as 1452-1454. I will sell that area again using 1457.14 as a stop.

The 50-day moving average is now 1415.77 and still rising slowly. Fib levels still extend to 1410, but anything below 1430.55 could complete the decline as currently structured. Of course, below 1410 could happen too.

I've been trading options in AAPL lately. Ever since the Fibonacci target "worked" a week or so ago (actually it was off by a whopping .26%), I've been gaining confidence in using both wave counts and Fibs for this widely-followed company that has gained such mass adoration.

I bought 665 weekly calls near yesterday's lows, took a little pain, but ended the day well in the green after aggressively managing the position.  I'm looking for a slight pullback then a rally to 680.  650.65 is the stop. The average price is 2.95 and will decay like mad today if there is any pullback because is it OTM -- out of the money. However, I trade gamma, and it's "got" gamma.

These options remind me a lot of OEX options, and they must be actively managed. They really move -- up and down.

I've also added CMG, GOOG, ISRG, and PCLN to my watchlist.