We just closed out these two outstanding June 17th positions in the Premium Service: We are also still carrying four additional "Wave 3 Down" trading positions with further out expirations that go deeper into the summer: The Big Picture analysis remains, "Wave 3 of 3 et al," continuing to unfold over the next few weeks, with no end in sight until panic/volatility and the triggering of circuit breakers accompanied by obscene returns in UVXY calls. As good as the returns above appear, our best trade(s) are still ahead - although some in the second table may ultimately wear that crown. Bitcoin: Trading as low as $18,850 [edit $18,129] this morning (Sat) and could be the long weekend's omen to a bad week ahead in global stock markets. We have been skeptical of Bitcoin ever since it couldn't stay above $30K coming out of Memorial Day weekend. Best to keep an eye on Bitcoin until then as anything under $15K could trigger global mayhem. Big Picture Trading Charts My first leg of a multi-expiration UVXY bet expired worthless Friday. I still own a core July 15th $18C position and will be adding to this, or initiating shorter-term UVXY calls (Jun 24, July 1st) as conditions may warrant during the week - for the nimble, and/or addicted, only, TSLA Whether TSLA bottoms here ($650) or at its 61.8% retracement level ($500), the shares are looking at a 4X to 6X increase with 10-20X increases in 2024 LEAPS. The next Intermediate Term Buy Signal could come anywhere between those two levels and anytime between now and Halloween. Meanwhile the waiting lists for the company's products grow longer, its growth continues exponential and on the cusp of global recession its raising prices across the board. Remove the headwind of a bear market and the price of its soon to be split shares will never look back. Price targets range from $2,400 by Dec 2023 to $3,000 by Jun 2024. New LEAPS recommendations will accompany said fresh Intermediate Term Buy Signal - probably after a complete washout event in equity markets.
