TLT put on a show this week. Big, big 200-300% winners on double size position call options with the price exceeding my 99.00 objective. TLT is still a long term play, so will be back on this one. Carvanna at 136 up from 127 entry and holding calls. PLTR about even at $26.50 and holding calls. Cisco underwater at 45.80 from 47.80 entry holding calls. I still like COIN higher here.
The stock is under 200 and I think it could hit $280 in August, this crypto stock is exceptionally volatile. The attached chart shows COIN bouncing off important support. The SPY I think will make a higher high on Wednesday than it did Tuesday. Tuesday it was unable to hold gains giving back half of the day’s gains into the close. It’s an emotional market right now, and that means market moves are likely to be made up of one side panicking, before reversing and then the other side panicking. So don’t look to ride the trend … take the profit and get out whether long or short, is my outlook for the rest of this week.
Thanks,
Joe
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