Play Recommendations:

Lotto Weekly Options:

Calls - 610 C (sold)

Aug Options:

Calls - 620 (OPEN)

8/6/12 - AAPL is just making and more profits! Today there were ramblings that a potential social network buy out is in the works. There is nothing but solid momentum in this stock and with a dividend payout coming and the much anticipated iPhone 5 in September, it's looking like new all time highs are right around the corner.

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8/3/12 - AAPL had a nice week of trading and looks poised to take out both Doji's from a couple of weeks ago, but I would have preferred a solid close above 620. Monday will bring some confirmation in my estimation.

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8/1/12 - Took the profits at the open this morning at $9.00. Good thing too, because the selling continued all day. Of course it would since the Fed is expected to announce important rate news today. If it's good news, then I will get back on board if AAPL starts to move back up.

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7/31/12 - Apple is back on the radar screen for upside action! Today there was a news article suggesting the company could be added to the DOW which would incur a potential "soft split" of the stock.

Of course, this is not confirmed by the company at this time, but they did say in the recent past, that they would consider a split if they felt it was in the best interest of shareholders.

This news, along with the upcoming dividend payout, is giving the stock a very nice bump in price this week after the poor earnings report last week.. With all this buying, you can consider it a safe bet to go long; however, this stock has very nervous investors so you better carry a put or two to hedge any longs you take on this one.

The daily chart shows some strong buying with two consecutive gap up openings and continuation. This is helping my Aug 630 calls trade I made last week come back to life!

I am taking a scalp trade today on the Weekly 610 calls and will pick up some Aug 620 calls too.

The monthly chart shows upside potential to take out the all time high of $650 is on track.

Profits Up!

The donFranko