Following up on the Dec 5th TSLA - Buy Alert, I've posted about TSLA twice already this week in the PRO Service and want to share the same analysis with Premium subscribers today. Basically, TSLA is running and we need to pay attention, especially once the old high of $414.50 gets taken out. The Hourly P&F Chart with Premium Trades Embedded This is an Hourly Point & Figure TSLA chart with Unexpired Premium Service TSLA/TSLL options embedded. Note: (1) Wave Count suggests another third wave at multiple degrees of trend is unfolding; (2) Fibonacci extension tool is suggesting that the next leg up is targeting $450-$650, and (3) that this service has one December expiration that needs to be rolled over on or before December 20th. Accordingly, lets deal with trading strategy right now. First, we have almost two weeks before having to do anything, so no need to rush. Unless that 50% trailing stop is hit, somewhere between $8-$10 on the TSLL Dec 20th $10C, there is no need to touch the position. For new capital or if you just HAVE to do something, here are the best looking rollover and/or new capital picks to replace that Dec call: Six bucks may seem pricy for a way-out-of-the-money call, but, TSLL is already a 2X leveraged vehicle for TSLA shares, it has doubled since the first week of November and another double from current prices takes it > $60 and a 3X to 5X on the Mar $35C. Key Concept to Grasp: Risk 50% to make 3X to 5X. ----- TSLL P&F Shorter-Term At $70, the Mar 21st $35C is worth at least $35.00, up about 500%...Doable? See top chart with embedded real time real money options, two of which are up over 700%, above.
