This is a chart of the 30 Year US Bond Yield and it explains the big picture bear market thesis as well as anything else: Easy money is over. The Big Picture Next week is most important week of the the most important month of the year, with quadruple witching and record options expiration on Friday. Note Fibonacci reversal rectangles on the SPX chart below. Even if market is modestly higher Monday-Tuesday, any reversal back down should trigger new and/or add-on short positions via index puts. All Sep 16th expirations should be aggressively rolled into Oct 21st expiration, strikes just out of the money for maximum leverage. TSLA Shares split on Aug 25th @ $296.07 and fell to a low of $265.74 on Sep 6th before recovering back to $299.68 on Friday's close. The pre-split high was $314.67 on Aug 22nd and that is the "Buy-Stop" for new calls if any previously pre-split calls were stopped out or sold for any reason. Longer-term target is still $1,000, but unless and until $315 is taken out, a dip back into the mid to low $200's is possible. If TSLA starts moving toward $310-315 we will be recommending new calls with 2023-2024 expirations, to be bought on break-out above $315. Gold/Silver Both GLD and SLV have the right "look" for a 10% plus rally from current levels and we may still add GLD and/or SLV calls in the days ahead. BUT, there is so much potential going into the Sep 20-21 FOMC meeting for a market meltdown that it is where my focus is right now. Nov calls on GLD/SLV could easily double or triple, but I'm looking for a much higher return (5X plus) on stock index puts. Nonetheless, stand-by for a potential Long GLD/SLV trade, especially in the PRO service, as this volatile-looking week unfolds.
