Before we get to our Smattering of Longs, some TLT housecleaning as it triggered the 50% trailing stop in the recent counter-trend rally. A brief review. TLT We shorted this on Dec 11th (TLT Sell Signal) with the Mar 21st $92P which went on to gain 234%, but price has recently rallied, dropping the gain to below the trailing stop @ +117%. That is an exit of some-to-all of the position. I like holding onto a few options after such an occurrence, "just in case," but for most intents and purposes, its time to move on to the next trade, even if it is another run shorting TLT...which may be coming. Although this shows today as not quite violating the 117% trailing stop, yesterday the gain as only 115%, a technical hit. As the chart shows, our target is still 83-75 area, so if still holding, continue to hold position, unless price takes out yesterday's top tick @ $88.17. For next leg down; on a TLT break below $87.00 A Smattering of Longs PLTR A close in the $80's seems inevitable and it would suggest a Wave 5 run to triple digits. We were/are holding calls bought last year, but if exited on the Wave (iv) retracement, use a close in the $80's to buy the Mar 21st $85C. If stopped out on the recent Wave (iv) retracement, get back in to the Mar $85C no later than on a PLTR close > $80 (currently $75.70) TSLA Such a close call, close enough to err on the side of being early, with $500 a more likely hit than $400. TSLL SOFI A bank with "Technologies" (plural) in its name. Enough said. LONGS PENDING GOLD Another close call, a Wave 4 that may or may not be complete. If Gold starts to run, we will be all over Wave 5 with GLD calls, some of our best trades of mid-2024. Not yet an official pick, not yet. SMH - Semiconductor Index An elegant (albeit canned) EW forecast from my charting platform. The Mar 21st $300C is trading at $3.50 and according to this projection, would be worth $26.00 if it is reached by expiration. Not official pick. Along with Gold, keeping an open mind and open eyes on this one, and, a cheaper way of buying NVDA calls. (Not official picks = For speculators only.)
