Wednesday Update


The market will be closed on Friday in observance of Good Friday. The significance is two-fold, I will take Easter weekend off and therefore no Weekend Update and second, Good Friday is one of those days that has reversed trends, so although not an exact science, I would be on the lookout for at least a temporary halt in the 2019 rally commencing next week. We don't trade holidays here, just signals, so it's just an observation.



TWLO closed above $125 on April 10th, generating a Buy, it ran up to $130.15 on Tuesday, but had a bad day today, trading down $4 as I write this. The May $125 calls were up 20% and today are now down about 20%, and although against the rules ("hold until either +35% or -75%") , I would exit now and redeploy elsewhere. It couldn't sustain its rally and now is back below $125.


On the other hand, TSLA has continued to fall in sync with its Apr 8th Sell at $277.69, reaching a low on Monday at $258.63.  That was enough of a drop to generate a 47.97% gain on the puts, well above the +35% profit taking threshold. The stock still looks weak and we are waiting for a new sell signal when the current short-term pop up is over.  


The May $33 calls hit their 35% profit-taking target last week, but have continued to rise, touching +75% today. I will be looking for new entries to the upside in the days ahead.  


GBTC - Still Looking Good



The market looks to be treading water here into the holiday weekend, this is typical market behavior and gives traders like us a bit of a break. Tomorrow I will post any new signals or any developments of import.