PL - Updated In last Saturday's Weekend Update we introduced Planet Labs (PL) as a new buy upon any close above $20.99. By the last hour of trading on Monday it was apparent that PL would trigger, so I added both the recommended options, the Feb $20 and Apr $22 calls. So far, so good. It's still early in the cycle as we are targeting the high $20's to low $30's for the next leg up. RKLB and ASTS were both trading in the low $20's a year ago, now they are trading in the $80's and $90's, respectively. Hopefully, a year from now, the same can be said about PL. Absent a stop-out (-50%) in either position, I expect to be rolling-up so long as the bullish price pattern is sustained. AAPL - Updated On Dec 6th we identified AAPL as a Short basis the Weekly chart, buying Mar puts. Yesterday, the AAPL dam started to break: AAPL 2-Day Price sliced through initial support @ $265 like a hot knife through butter, with $250-$245 due up next. There is a lot of time left until Mar expiration with lower trendline support at $220-$200 AAPL Mar Puts Maintain stop @ -50% until puts reach +100%, then 50% trailing. Gold & Silver It's been a wild ride in precious metals starting with a spike higher into Christmas, followed by a mild retracement thereafter. Both metals may have bottomed out on new year's eve, with a resumption of uptrends into the first full week of January. There is "news" of a rebalancing of the Bloomberg Commodity Index on January 8th, that will cause approximately $6 billion of gold futures and $5 billion of silver futures to be sold. I put news in quotes, because everyone knows about it, so is it really news? More importantly, if everyone knows about it, chances are its already baked into pricing. In any case, both Gold and Silver are locked into intermediate bull trends, so that all of the surprises are bound to be on the upside. We own Silver via March calls as per yesterday's Update and are looking for the right set-up to get back long Gold for a run past $5,000. Gold A bullish wave count. Silver With Silver in the high $70's today, this particular set-up needs a close above $85 to target triple digits, or a close below $75 to extend the correction into the $60's. Premium Gold & Silver Calls GLD triggered its trailing stop; the SLV Mar $55C is still open and on this morning's dip, I added the Mar $100C to our SLV holdings. If Silver breaks out above $85, consider loading up.
