AAPL update

In my previous AAPL update I misidentified the 3rd of C of 5 believing it was 5th of C of 5.  Again, I should have known better because it was turning into a rising wedge, a possibility which I clearly marked on the model back then. 

In any case my current count says AAPL shares should finish 5th of 5 any day now.  I expect some selling to begin this week perhaps as soon as tomorrow.  If AAPL is selling off it should not be falling on its own.  It should be in good company.  A break below that lower red rail spells real trouble.

The last trade on the Jan 2016 $50 puts were only 30 cents.  I like them not only because of the price but also because if this is the end of the 5th wave then the common stock should come back down to the level of the prior 4th even if AAPL is still in a larger bull market.  They should be cut in half before the coming sell off is done and that is best case.