SPECIAL ALERT: Shopify was down all morning and I couldn't send out this update to the PRO Service. Accordingly, rather then wait until tomorrow's PRO update window (2-3 hours after the Open) it's going out now in the Premium Service window (1-2 hours before the Close) and to all subscribers, PRO and Premium alike. As the markets head into December its a good time to take a step back and review where our trades stand, especially in light of two new options picked up last week. The table below includes any trade that is unexpired and hasn't fallen 50% from entry, triggering a hard stop: PRO Trades New capital should be directed toward the most recent trades, HL and SLV, both of which are well represented in the portfolio having triggered in September/October and again last week. On Deck The two major themes going into December and January option expirations are bullish precious metals and bearish stocks/bonds. As for QQQ, today's recovery of a gap down open is suspicious and I am eyeing a hard break of today's lows in QQQ as an opportunity to add to bearish stock market bets. See QQQ Comments below. NEM This past Weekend Update has a Buy Pending on NEM @ $95, but as this chart indicates, a fresh Wave 5 Buy Signal would be generated on any close above $93. Although our PRO portfolio is already well entrenched with precious metal picks, any such close would trigger the NEM B/O System that has been very good to us throughout most of 2025. Consider adding the Feb $100C on any NEM close above $93.00. BTC Bitcoin is in free fall and continues to look lower with minimum expectation around $75K with a 50/50 chance likelihood of $50K in the weeks-to-months ahead. The chart below remains unchanged with zero need to make any adjustments on wave counts, Fib extensions or major support areas, i.e., a sign we got this one right. QQQ It's only a matter of time before the bottom falls out of the stock market and the sector that seems most vulnerable is the AI bubble, i.e.,, QQQ pretty much is at risk of a mini crash. I expect the QQQ chart to resemble that of BTC directly above, soon or later. If its much later, any post Dec expiration SQQQ2 calls may not survive Dec 19th expiration. It would be a shame to get the big picture right on this, yet allow an expiration month selection to affect a big payoff. Accordingly, let's look to January expiration for any new capital devoted to this bearish theme. QQQ January 16th Puts Today's low on QQQ is 612.52. If it is broken any day this week, we want to add January 16th $580 or $570 Puts. As the QQQ chart below indicates, a drop to the low $500's is still in the cards. QQQ - Trade Pending We want to add QQQ Jan 16th $580/$570 Puts on any breakdown below Monday’s low print of 612.52. No breakdown = no new position. TLT - Trade Pending The pattern on the TLT chart below is about a bearish as it can be, with a pending breakdown of the lower parallel channel the icing on the cake. As of mid-session today’s low print is at 88.71. Any breakdown below that level is out trigger to buy the TLT Jan 16th $88 Puts. As with QQQ, no breakdown below today's low print = no new position. TLT Daily The implication of this price pattern is for higher interest rates ahead, exactly opposite what the financial press is expecting with rate cuts and a new Fed head expected into early next year. TLT Jan Puts
