We have been watching the same level for a week to go long the SPX in the 4320’s. Almost got there Thursday. Friday we instead popped out the top. It would not be at all unusual to now pop out the bottom of the consolidation shown in the attached chart. If so, I will buy 4320’s SPX. One thing that did go very well on Friday was Palantir.
I said I wanted to buy the stock at the current level and Friday it opened slightly lower before rocketing more than 7% in a single day. I bought the Dec 15 18 calls for KeyPoint Options at average $1.30 in the morning and sold them at $2.25 in the afternoon for a +73% return — and they went higher after I got out. If we come lower again, I will be interested to reload in Palantir.
Thanks,
Joe
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