This is going out before any inflation or FOMC news can affect the big picture, so if there is a bullish/bearish big picture play, it will have to come in a special Alert later this week. The most interesting direction bet may be a short-Bitcoin on weakness. Bitcoin The Bitcoin low from last week has not yet been tested. Our "Buy BITO Sep $18P on a break below $53,500" advice from the Weekend Update is still in force. Note how price has risen back to the Signal Line and has now turned back down. What price does over the next few days will make or break this potential new trade. BITO TSLA I covered TSLA in yesterday's special update. A question came in from a subscriber (questions welcome: apharris@mac.com) about whether going out further in time is viable strategy and my answer is an emphatic YES. More time is always a viable strategy. Six months isn't that much time for a stock to double, but TSLA has that capability and even if it doesn't double by January 20, 2025, if the current robust rally continues through September, those out-of-the-money calls highlighted in yesterday's update should all do very well. Next best expiration: Jun 2025. Confluence of Fibonacci extension levels @ $260; $320; $450 = Targets, Resistance, Support AAPL Note the Intermediate Term Trend Model Buy Signal that came Apr 29th, the same day as the TSLA Intermediate Term Trend Model Buy Signal. The AAPL Sep 20th $200C was trading between 2.15-2.50 on that day and is currently at 34.75 for around a 15X gain. AAPL wasn't on my radar back then, but it sure is now. What the market gives, it will surely give back. It will take a Trend Model Sell to get us back active with AAPL. SQ We shorted SQ with Sep puts back on May 22nd. Take note of today's channel breakdown and Fibonacci extension target zone of $56-44. Mid-zone is $50 by Sep expiration, which would value the $65 puts around $15. Hold, or add, looking for SQ to decline to low-to-mid $50's, minimum, before Sep expiration. Stop with a close above Monday's high of $66.74, or 50% trailing on the $65 put (currently would hit at about breakeven for the trade). PLTR We have been Long PLTR calls in the Blue Line PRO Service since entries on May 7th and again Jun 18th. On our next entry we will extend coverage to the Blue Line Premium Service as well, going out to January 2025 expiration for a llonger term position. From PRO Update, June 18, 2024 "This is a longer-term perspective and ultra-bullish, assuming PLTR is at the beginning of a multi-year move with triple-digit returns. Even if the run-up in price is less aggressive, going out three months with at or just out of the money calls will result in stellar returns. PLTR is also a sleeper AI, Crypto and Defense stock that has some deep pocketed investors behind it. It can be a $100 stock in the next bull run, one or two years down the road. We are trying to catch it early." ----- PLTR - Weekly A close > $30 in 2024 targets a run to $50 in 2025 Blue Line Pro Trading Service - Current PLTR Positions PLTR Calls Pending in Premium Service Pending a clear breakout above $28 resistance, i.e., > $30
