In three minutes, DeMark was able to do what Tim Cook and every Apple investor had wanted to accomplish since September, that is, break the Apple curse. DeMark increased the valuation of Apple by more than $1 billion per minute he was on the air. By the time DeMark was finished, Apple was worth $4 billion more than when he started.
In return for not taking a quick dollar or two, I was able to learn more of what to expect in similar situations. I wanted to enter into a long position on weakness Wednesday, but the curse is now broken and I don't expect to see a sub $490 price any time soon.
Fortunately, Apple is less than a week away from reporting earnings. Stock option premiums tend to increase in front of earnings giving me a second kick at the can. Before Apple fills the gap and moves above $520, the price will encounter resistance near $515. If Apple offers a buying dip after touching $515, I will look to sell $500 put options to capture the elevated premium.
I expect very favorable earnings numbers that will turn into a wake-up call for those that believed the next stop was $400 or lower.Don't know what TDCombo and TD Sequential are? Get a copy of