Stock Update: AAPL

What is not to love about Apple Inc these days? $22million bonus for Tim Cook? Sure! Go ahead!

As we get closer to the launch of the iPad, the talking heads like Cramer have been pushing up the stock. After wavering in early March around $210, we saw a gap up on Fri Mar 5 to close at $218.95. A week later we are at $226.60. All that I can say is if you are long AAPL take profits. Don't worry if you have missed this move to get in as there will be more opportunities to come.

For now, go short or buy AAPL puts. Be ready as always to close out your positions if it goes against you.

Source:E*Trade