We started this week with a new pick, SOFI, which is still buyable at current levels. See Weekend Update for details. SOFI - Longer-Term View First target price zone is low-to-mid $20's into first quarter of 2025, then low-to-mid $30's later into the year. Hard stop @ -50% to limit loss until calls are up triple digits, then implement a 50% trailing stop to protect gains. TLT We haven't bought puts of any sort in quite awhile, but this set up is too tempting to pass up...or should I say down. If Wave 2 is over, as the count below suggests, then Wave 3 down to the low 80's is likely, and March puts are cheap. Huge double top unfolding over much of 2024, followed by a Wave 1 down and now in a Wave 2 up, right into natural Fibonacci resistance @ 38% retracement of Wave 1 down. What is missing is a confirmation of the beginning of Wave 3 down, i.e., a break of the Wave 2 rising channel. If broken, low $80's is initial target. March TLT Puts As of this update, no new trade has been triggered, but I am monitoring daily and will send out an Alert upon confirmation.. TLT 120 Minute Today's low is 92.54, support just above the channel line of 92.50 and it will take a break of this channel to set this trade in motion TSLA - Updated Daily Chart Next leg up could be an extended Wave v of 3, taking price > $500. The problem is that Wave iv may or may not be over, if the latter, another few weeks of consolidation will come first. A clean break above $365 will signal that a dynamic move up is unfolding (revist: Tesla Buy Pending @ $265) TSLA 120 Minute The 120 minute view better isolates the importance of the next few days proce movement and the potential for a breakout above horizontal Wave iv channel. TSLA/TSLL Premium Service Options December expiration next-up for rollover, pending resolution of Wave iv.
