Daily Plan 12.5.24
Hey-
So the chip stocks really stepped up today and provided a very nice backdrop for the emini and Nasdaq QQQ to rise strongly, with a strong finish to the day.
A lot of guys were theorizing Powell this and that today, but we gave a very crystal clear level last night with no fluff (as usual), which was the exact low of the session before a very nice 40 dollar rally. So good was this level that we could not even trade one lot below it.
Not only did I have excellent calls in options like U which rose from about 1 dollar to 6 dollars, and the AMZN option which rose from 4 to almost 10, we also saw massive action in bonds and crypto on which I have been bullish. There are just too many names to list them all here. You can go read the archives or talk to our subs who will be happy to share the value of this publication.
Levels for tomorrow
With FOMC out of the way, and this close here at 6100, if you are a bear you want to take out 6076-6078 area for some bearish downside risk. Else we may be headed higher.
Scenario 1: If we hold 6076, I think this level could be supported for a retest of 6100.
Scenario 2: If bears take out 6076, and remain below it, we could retest the support levels from last night’s plan at 6059. We are now 6100.
On common stock side, if you are a subscriber you will recall my bullish view on TSLA at 300. It is 356 now. I am surprised it has lagged its peers a bit. I think we are soon going to change this and I will not be surprised if TSLA were to trade 400 here in next few weeks.
On an admin side note, a few folks asked me about timing of the price increase for sub. It will be sometime in February time frame. The idea is to rolloff the new subscribers at some point around April of 2025. Whoever is left will be grandfathered in but we will not be accepting new enrollments starting some point early 2025 and will use pricing as a tool to execute this goal.
~ toc
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