Next week will be a shortened trading week due to the market being closed for Good Friday. Accordingly the following two April 14th expiration positions in the Premium Service portfolio will be rolled into May 20th expirations on or before the close of trading on Thursday: IWM Apr 14th $200P -----> May 20th $195P (5.35-5.40) OXY Apr 14th $50C ----> May 20th $65C (3.65-3.75) ------------------------------- OXY IWM - Rough Summer Ahead Initial target for Wave 3 is $138-$172. Needless to say, that would generate some serious gains $195P, which would be between $23-$57 in-the-money. QQQ - Classic EW Impulse Wave "Classic" insofar as Wave 1 down from the Nov 22, 2021 top took the form of five waves down, followed by a 61.8% Wave 2 retracement into Mar 29 and then what looks like a beginning of a Wave 3 down. Using the Fib extension tool the price projection for Wave 3 is 235-287. TSLA - We've Only Just Begun I've been banging the table for TSLA since Dec 2019 when the shares were trading at about $70. A lot of folks took that advice and benefited nicely. Some did not follow that path and some of the same are convinced they missed that boat. Not so fast, skeptics. It may not be the same 12X in 24 months return this time around, but it will be multi-fold, 3X, 5X, 8X, in 24-30 months. Longer term options will take that return and leverage it by another 5-10X. The same people who didn't believe me in late 2019 are not believing me in Spring, 2022. It adds confidence to these projections. Speaking of which, Fibonacci symmetry agrees: TSLA - Long Term (Weekly) Expect one or two longer-term breakout Buy Signals (as shown in the chart) a year into Summer 2024 when global gigafactory production will be at full capacity, including arrival of the most remarkable personal transportation vehicle ever made: The Tesla Cybertruck. This will carry the company, its market cap and newly split (10 or 20 to 1) share price into 2023-2024 as a $4-5 trillion dollar company ($4K to $5K (pre-split). Looking ahead to the second half of 2022: We have been hesitant to add new Longs in front of such a dire price pattern across the indices suggesting weak stock prices into late summer. Short ideas are out there, but a deep dive is better leveraged with index puts. This will set up a multi-month recovery rally (from much lower levels) that we will play with some of the beaten down FANG and tech stocks. As always, we will be continually monitoring TSLA price patterns for retracement channel breakouts for adding new calls and LEAPS, regardless of our macro market expectations. BLAST FROM THE PAST JUN 7, 2013 - TSLA = $20
