Eye on an Apple Bump

It's a bit of a dull start for the week. The headline battles are raging between Apple (AAPL) and the resignation of Pope Benedict XVI, which seems about right. I'd like to think the Pope influences more people on a day-to-day basis than Apple does, but I can't say it with any real conviction.

Apple (AAPL) -- Daily Source: StockCharts.com View Chart » View in New Window »

Apple bulls really need a non-sell-the-news event here. The cycle in the past has been a run higher into any event, then a selloff beginning in synch with a presentation. Given dwindling expectations for Apple, maybe the trend can change this time around. The daily chart shows a shot at a near-$500 price tag this week, so the en vogue trade has been the $500 pin. I tend to agree with it, especially on the risk-reward basis of a $495-$500-$505, or $490-$500-$510 call butterfly type of play....236 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.