Last week we added AMD and BABA to the Premium Option Portfolio and it may be helpful to go over these two picks, about one week later, just to get our heads around them. First, a performance snapshot from mid-day Wednesday: Hopefully they will all approach RKLB type gains before Sep expiration. All selections have been up over 50-60% in terms of "Best Return." I've moved the trailing stop from -50% to break-even and will make that a 50% trailing stop from Best Return as soon as they are up close to triple digits (see RKLB & BITX). In other words, once an option is up over 90% or so, we want to lock in gains, no matter what. Simple arithmetic at work. Next, a snapshot of the chart patterns, to make sure the initial reasons for the trades are still in place. AMD 240 Minute BABA Daily Both stocks have held up nicely over the past week and both are on track to achieve their respective higher EW targets, $200 for AMD and $145 for BABA. Natural stops can be placed at prior retracement lows, but, since we are dealing with time wasting assets, i.e., call options, let make it easier to manage with mental stops around break-even on the Sep calls. It wouldn't be unusual to see the market peak at or around Labor Day and hard correct thereafter (Sep-Oct is typically a cyclic low time of year). As for Bitcoin...this is the primary bullish wave count into the end of the year and until BTC says otherwise with its price action, the expected path upwards toward $200K: BTC (BITX & IBIT) Key breakout pending: Above $125K ---> $150K --->$175K--->$200K
