"Special" becuase its going out on Tuesday, which is only mid-week insofar as the market closes early Wednesday and is closed all day Thursday in observance of Independence Day. As we have been anticipating, with July 4th coming in the middle of the week this year, there hasn't been much market action to speak of, or write about, and certainly not make any new trades around, with one exception... TSLA Daily-Intermediate Trend Model The January 2025 calls are now in the positive return zone and as the chart above suggests, Minor Waves 3 and 5 appear to be unfolding and targeting much higher levels. Opening double digit gaps are typical of third waves and that is the assumption going into the second half of the year. Longer term, $414.50 (Nov 2021) gets taken out. With today's 10% spike we have to move the hard stop to $200, maintaining a trailing stop if half of Best Return is lost, i.e., if Current Return drops under +30% in the days/weeks ahead. More aggressive traders can use break-even as a hard stop, but that is giving up over 60% in gains. Ultimately, we are once again looking for massive returns on TSLA calls, 1,000% plus, probably into 2025-2026. New Capital Only New capital picks - Looking for Waves 3 and 5 up in next six months. Harking back to this past Weekend Update, it is imperative to keep in mind the precariousness of the big picture outlook, that there is much more risk than reward if the market were to succumb to geopolitical pressure over the course of the 3rd and 4th quarters of 2024. I have no issues being long TSLA calls and at the same time aggressively long market index puts on the breach of any key levels in DJI, SPY, IWM and/or QQQ. Have a Happy 4th, and look for our next communication to be post the holiday doldrums, likely this coming weekend.
