This week contains 5 of 7 MAGS stocks reporting earnings AND an FOMC meeting on Wednesday. Its beginning to look like April will "go out like a lion," one way or another. Meanwhile, one of our favorite names, GOOGL, is tempting on the Long side, close to a confirmed breakout above $351 AND it is one of the MAGS stocks reporting Wednesday. It's previous high print was made on Feb 4th, the day of its most recent earnings report. From there, it fell from $349 to $272, a drop of 22% over about six weeks. They don't make it easy for us, do they? Still, where there is uncertainty, there is opportunity. Read on. SOXS As discussed in last Friday's, Into The Close, SOXS is offering up a highly leveraged Jun bet to the upside, meaning Semiconductors to the downside. Initial positions in the Jun $20C should be taken now, with another tranche toward the end of this week, whether SOXS goes up or down in the mayhem that's due. SOXS 120 Minute SOXS Jun Calls SOXS Top Five Holdings - Combined = 36% NVDA 8.41% AVGO 8.26% MU 7.00% AMD 6.48% AMAT 5.85% Bitcoin 3 Hour (BTC) This breakdown on the 180 minute chart does not bode well for BTC, IBIT, nor the stock market in general (but good for SOXS) - suggests "risk-off" gaining momentum. IBIT 2-Day Still targeting low $30's for the 5th Wave down...but read note below option table. IBIT Puts Note that with BTC down over $2K today, IBIT is down only about $0.50 and these June IBIT puts are barely budging. Pass (for now). GOOGL A close above $352 confirms a Buy Signal here, but, and its a big but, I can't in good conscience recommend calls in front of earnings, especially when after the last earnings and despite a 7% beat the shares fell 22% from its then all time high. For most, another pass. GOOGL Jun 18th $400C For the gamblers out there who are willing to risk -50%: Because the past doesn't repeat...it only rhymes. MAGS With 5 of the 7 MAGS stocks reporting this week, this is exactly what we can expect from the chart, flirting dangerously with a major breakout, or breakdown; day to day for now. AMZN, GOOGL, NVDA, META, MSFT, AAPL, TSLA
