All posts by Scott Redler
Tesla $400? Is It Time?
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. We have mixed markets around the world as China stands out with FXI +6%. The PBOC published a very dovish report with looser monetary policy and more forceful fiscal support. Here in the US, the Mag7 names have been the stars lately, which is why we’ve been so active in AAPL, META, TSLA, and AMZN in Power Plays the past month. Unfortunately, I took off Amazon way too early. AAPL: I’ve been buying dips the past few weeks as it rebuilt and worked higher. I focused on buying through $230 and $237 and it hit $244+ to manage. I sold my calls into strength. It’s been digesting a few days. If it breaks $241.25, we’ll see how it handles the 8 day. TSLA continues to reward longs for buying pre- and post-election. Last week, the strategy was to be long above $348 and add above $361. It’s at $395+ so I trimmed some this morning. If it holds higher, it could see the $414.50 all-time high from 2021. AMZN had a mega move to pay investors who sat through all the selling drama and split. It hit $227+ Friday. Active traders also did well through $202ish, and it’s acted very well since then. I sold last week and need to be patient now. META gave us a big move. I bought it around $590 and added when it cleared $603. it hit $629+ Friday to manage. I’m still in stock but sold my calls. We’ll see if it holds $619 now. NVDA is the subject of an anti-monopoly investigation in China which has it lower. See if it makes a low in the first 5-15-30-60 minutes or if it becomes a headwind today. $140.29 is an important spot, then the 50-day is below near $136. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. Your Tip for This Week: Keep an Even Keel I don’t know what’s worse: having too much confidence or not enough. So don’t go overboard celebrating your trading wins. We want winning to be a normal day at the office — not special occasions that are so rare they’re worth celebrating! And don’t go overboard crying over your losses, because underconfidence will prevent you from executing on good trades. You have to accept that losing is part of the game. Just make sure you lose small, and use those bad trades to figure out what you can improve for next time. If you learn from your losses, you’re at least getting something out of them. This Week’s Calendar We have a busy week ahead with the CPI, PPI, ECB Rate decision plus earnings from ORCL, MDB, and others. P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-12-09 at 8.50.02 AM
Continue Reading -->Why Apple and Meta Are Leading
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. On December 3, 2024, Scott appeared on ‘The Claman Countdown” on Fox Business, alongside Natixis’ Jack Janasiewicz: Watch the latest video at foxbusiness.com Scott went over: Why traders have become numb to geopolitical headlines Why there has been a “flight to quality” towards Mag7 names like Apple (AAPL) & Meta (META) – both current ideas in Power Plays The reason people are not selling Mag7 stocks into year-end Which names are likely to lead into year-end How Scott finds new ideas amid the market’s constant rotations How the “Fed put” is supporting the market Why the “Goldilocks” theme is winning right now The power of market timing when it comes to creating alpha Featured: Get 1 Year of Scott’s Top Ideas for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next one: See why now’s the right time to join. *Scott Redler Positions Disclosure as of 2024-12-04 at 7.56.58 AM
Continue Reading -->I Chose THIS Bitcoin Play
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are flat and off the lows as we see if we can hold 5984 this week to keep upper commitment to this active sequence which started on September 11. Each week has a different feel. It’s a new month so we should get some new flows to keep upper levels intact. Markets are pricing in a 65% chance of one more 25 bps cut on 12/18, so this Friday’s jobs report will be important. We still get some news/developments out of the incoming President. Mexico/Canada tariff risks seem reduced, and the BRIC countries will stay with the US Dollar. Now let’s dig into strategy points for this week. Bitcoin became my #1 theme on October 11. It had a beautiful move from $62Kish to $99k+. We participated along the way in Power Plays via multiple names. On Friday, I added Bitcoin miner TeraWulf (WULF) back to Power Plays. Stanley Druckenmiller just upped his stake. And as long as it holds the $6 to $6.40, there could be very big upside in this one. So you can call me “RED WULF” this week, as long as this stock holds up of course! TSLA re-built nicely last week and perked up Friday. I did get long shares again and went with $360 calls. It was upgraded this morning with more FSD rollout talk. We’ll see if early strength builds. AAPL: I’ve been buying dips the past few weeks as it re-built and worked higher. On Friday, it cleared $235 to see $237.81. It seems like this can rally into year-end. $233 needs to hold. CCJ is the best-in-breed uranium play for institutions. The 50-day was buyable into the $50-$52 area and it hit $61ish. It needed to let the 8-day catch up and $57.11 held. We’ll see if it tries for new highs again. Keep this on your radar. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. Your Tip for This Week: Don’t Try to Fix Monday’s Losses on Tuesday Every day is a fresh start. As traders, we must maximize the opportunities that are in front of us in the present moment. Forget about what happened yesterday, and don’t obsess over what may happen tomorrow. Let’s say you have a bad Monday. Don’t come in on Tuesday thinking you have to make up for it. You won’t be able to manage risk because you’ll be trading out of desperation. We all have rough stretches. But if we follow our principles and enter every day with a plan, our good days will outweigh the bad. Just take it one day at a time. On the flip side, if you make a fortune on Tuesday, don’t get lazy on Wednesday! Stick to your plan and make the most out of what you see. There’s no reason you can’t do better tomorrow. This Week’s Calendar The jobs report this week is key because there is some uncertainty over the Fed’s rate cut trajectory. And tech names CRM and MRVL will be closely watched as well. P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-12-02 at 7.56.58 AM
Continue Reading -->20 Tips for Trading Success
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. It’s not easy to succeed as a trader. But it’s also not impossible. Regardless of style, the most successful traders tended to have a common set of mentalities, philosophies, and behaviors. And by the same token, struggling traders tend to suffer from their own common issues. So I wrote this article to help you identify holes in your game, and help you become a happier, more productive trader. As you read it, you’re going to realize that trading success is not just about technical analysis and intelligence. Your lifestyle, routines, and thinking process matter a lot. 1. Have a Plan I follow a strict set of risk management principles so I keep moving in the right direction. I respect key moving averages, pay close attention to the big trends, and keep losing trades in check. And, most importantly, I enter every day with a plan. When the market opens, I have a list of stocks I’m ready to buy or sell at specific levels depending on what I see. This way, I’m ready to react instead of hoping to stumble onto opportunities. 2. Create a Daily Routine You Enjoy The number one thing traders waste time and energy doing is… figuring out how to use their time and energy. Create a daily routine that keeps you happy and productive. For me, that includes everything from jumping in my ice barrel to doing my morning charts to checking on my Power Plays names. There’s nothing less exciting than a schedule. But the more I plan out my day ahead of time, the easier it is to concentrate on the market and get things done. Distractions kill your profits. So kill distractions with a routine! 3. Take a Blue Collar Mentality Trading isn’t about turning on your screens and swinging for the fences each day. It’s about hitting singles and doubles. Success comes from showing up and doing the work every day, the same way carpenters, ironworkers, and plumbers put together a building. For traders, this includes forming an effective trading plan, observing the market, and aiming for consistent profits. I’ve seen a lot of traders search and search and search for some kind of secret sauce. Hard, steady work is the closest thing to it. 4. Don’t Try to Fix Monday’s Losses on Tuesday Every day is a fresh start. As traders, we must maximize the opportunities that are in front of us in the present moment. Forget about what happened yesterday, and don’t obsess over what may happen tomorrow. Let’s say you have a bad Monday. Don’t come in on Tuesday thinking you have to make up for it. You won’t be able to manage risk because you’ll be trading out of desperation. We all have rough stretches. But if we follow our principles and enter every day with a plan, our good days will outweigh the bad. Just take it one day at a time. On the flip side, if you make a fortune on Tuesday, don’t get lazy on Wednesday! Stick to your plan and make the most out of what you see. There’s no reason you can’t do better tomorrow. 5. When Things Go Wrong, Get Small Trading is a lot like poker. You can prepare and study for years to get an edge over the house. But sometimes, you just get dealt a bad hand and there’s nothing you can do about it. We all find ourselves on losing streaks from time to time. What matters is how we pick ourselves up. If you’re in a rut, trade smaller and focus on just getting profitable again. This way, you can rebuild your confidence without digging an even bigger hole. One thing you must never do is up your bets after you’re down. That’s how you go from 5% down to 20% down to 50% down. 6. Keep an Even Keel I don’t know what’s worse: having too much confidence or not enough. So don’t go overboard celebrating your trading wins. We want winning to be a normal day at the office — not special occasions that are so rare they’re worth celebrating! And don’t go overboard crying over your losses, because underconfidence will prevent you from executing on the good opportunities. You have to accept that losing is part of the game. Just make sure you lose small, and use those bad trades to figure out what you can improve for next time. If you learn from your losses, you’re at least getting something out of them. 7. Use Technicals – Not News Headlines and Economic Statistics – As Your Guide to the Markets I earn my living trading, so price is the only thing that really matters. The news flow and macro trends are important, but not as much as actual market movement. Be aware of what’s going on in the world. Just take it all with a grain of salt. We make money by riding price movements — not by being trying to be ‘right’ about politics and the economy. If you read the news, you’ll always find a reason to sell. Like inflation or the debt ceiling or the election or geopolitics or whatever. The reality is the market can go up on bad news, and down on good news. Doomsday will happen sooner or later — but let the market tell you when. 8. Know Your Time Frame If you’re a short-term trader, you have to know your levels, what sectors are doing, and what’s on the calendar each day. But if you’re a long-term investor in a 401(k) or 529 plan, just keep those funds pumping in every month. So for each type of account or portfolio you have — short-term, long-term, aggressive, conservative, etc. — let your time frame guide your pace of activity. Be active and tactical with your short-term money, and slow and steady for long-term wealth building. In my short-term trading
Continue Reading -->Bitcoin $100,000? Let’s Talk About It
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. The Bitcoin Boom has been the biggest story in the market. It’s been a major focus in the Power Plays newsletter since September 26, when I added IBIT as a position. I later added Microstrategy (MSTR) and Terawulf (WULF) as Power Plays ideas, both of which were good to us. On October 4, when Bitcoin was around $62,000 I told my Power Plays subscribers Bitcoin could hit $85,000 or higher. And on October 11, I started talking about “The Bitcoin Turkey Trot” — a huge rally into Thanksgiving. Well… we got it! On October 14, in a free blog post anyone could read, I said Bitcoin could hit $100,000+. And today, it hit a high of $99,543. This move came way faster than I expected — not that I’m complaining. So, what now? Well, I still see potential for Bitcoin to hit $100,000 to $150,000 over the next 6 months. Adoption by institutional money managers is just beginning, and of course, it helps to have friends in the White House. There are also some simple technical analysis lessons to learn here. First, you want to ride strong trends above the 8 & 21 day moving averages: Note: Power Plays is down to a 25% position in IBIT – that’s the only crypto name in Power Plays right now. Since we’re on the topic of technicals, let’s talk about another big crypto story – the Microstrategy (MSTR) meltdown. Yes, I love when stocks, ETFs, and cryptos are trending over the 8 & 21 day moving averages. But when things get extreme, you want to hit the brakes. Like with Microstrategy yesterday. When you see a stock trading 25% above the 8 day moving average, things are getting out of control! I wanted to get short Microstrategy stock because it felt like Super Micro (SMCI) back in March. Bu there was a problem — like most crypto-related stocks, Microstrategy is heavily shorted: If Bitcoin had exploded to $105,000 to $110,000 yesterday (not an unrealistic scenario), Microstrategy could have squeezed up to $700 or $800. So I took a different route than shorting MSTR itself. I bought the Defiance Daily Target 2X Short MSTR ETF (SMST) in the premarket. This is a double short ETF on MSTR. So if MSTR falls 5%, this is targeted to rise 10%. And I traded around it into strength. I wanted to treat SMST like an option. So if MSTR kept rallying, I could lose 50% on the trade. But at least I knew what I was risking. So to wrap up this lesson, remember 2 things: Ride trends over the 8/21 day moving average – do not fight them When a stock gets overextended over the 8 day, be very careful Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. *Scott Redler Positions Disclosure as of 2024-11-22 at 11.35.38 AM
Continue Reading -->[News Flash] Bitcoin $100,000 Is NOT Guaranteed
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. We have mixed markets around the world after risk happened fast. Europe and Asia are mixed and trying to figure out what’s next. SPX broke 5980-5960 which was a failure to protect the elevated area . Markets fell hard and fast and the SPX hit 5853ish. That’s our new spot to watch. If that doesn’t hold, the gap is open all the way down towards 5783. Now let’s dig into our strategy. Bitcoin became my #1 theme on October 11. It’s gone from $62Kish to $93k+ to manage IBIT and miners. We participated in Power Plays via IBIT, WULF, and MSTR. Now we’re down to only an IBIT trailer. If this action continues, it can see $100k by Christmas. But if $88kish breaks, it might get sloppy. So don’t get a false sense of security. There are no guarantees. NVDA reports earnings on Wednesday. We exited our final trailer for Power Plays Friday at $144.87, which was a good thing because the stock’s under $139 today on reports of heat issues with Blackwell. We also exited SMH for a loss. $137.60ish is a spot to watch for NVDA,and the 50-day near $132ish is even bigger. TSLA was a nice winner pre and post-election. On Friday, I sold puts and added the stock back as it showed relative strength and held the 8-day near $310ish. I’ll trim and stay with it. I’d think the $358 high will not be the high of the next month or so. But entries and exits matter. NFLX made new highs on the year. Some were long vs. the post-earnings gap of $736. Others got in when it cleared $733 to see $841+ to manage. It’s only down small after the Tyson fight which had technical problems. $816 needs to hold now. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. Your Trading Tip for This Week: Create a Daily Routine You Enjoy The number one thing traders waste time and energy doing is… figuring out how to use their time and energy. Create a daily routine that keeps you happy and productive. This includes everything from chart reviews to gym time to coffee breaks. There’s nothing less exciting than a schedule. But the more I plan out my day ahead of time, the easier it is to concentrate on the market. Plus, I have more energy for exercise and family time, which is very important to me. Distractions kill your profits. So kill those distractions with a routine! This Week’s Calendar This week is all about Nvidia (NVDA) earnings on Wednesday: P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-11-18 at 8.53.44 AM
Continue Reading -->Moving Averages for Swing Trading: Your 2025 Trend Analysis Guide
I can’t live without my moving averages. They’re among my most important technical analysis tools — especially when it comes to finding winning swing trade ideas.My charts would feel naked without them!Moving averages help me determine:How long (or short) I want to be in my swing trading accountWhich stocks and sectors I want to buy (or avoid)How strong the current market trend isWhat news matters, and what doesn’tI rate moving averages above news, economic data, earnings, and any indicator you can think of.If I was a starting swing trader looking to build my net worth, moving averages would be my #1 focus. Because price never lies.And through a series of new trading case studies updated for 2024, you will learn:What a moving average isHow to calculate various types of moving averagesThe specific moving averages I use in my swing trading, and how I use them to find new ideasHow to use moving averages to avoid losing stocksThe #1 myth of moving averages Editor’s Note: If you want to get Scott’s favorite idea each week, make sure you go here to check out Power Plays. It’s where Scott puts these moving average strategies to work to find potential winners. Positions Disclosure: as of 2024-11-14 at 2.26.29 PM, Scott was long AAPL, AMZN, IBIT, LCID, MSOS, TSLA, AAPL calls, AMC calls, AMZN calls, ASTS calls, GLD calls, GRPN calls, NVDA calls, OKLO calls, ONON calls, RUM calls, SOXL calls, TAN calls, XBI calls; was short SPY calls, TLSA puts, TSLA calls What Is a Moving Average? And How Are They Calculated?The first thing you need to know is how moving averages are calculated.A moving average is a stock’s average price over a specific time period.A daily moving average is the average of a stock’s daily closing prices over a certain number of days.(a weekly moving average would be the average of a stock’s weekly closing prices over a certain number of weeks)We’ll focus on the daily time frame in this tutorial since we’re talking about swing trading.For example, the 50 day moving average on a daily chart is a stock’s average closing price for the last 50 days.Every day, the newest closing price in the moving average replaces the oldest, which is why we call it ‘moving.’ It changes every day.Here’s a chart of Nvidia (NVDA) with its 50 day simple moving average. The #1 Myth About Moving AveragesYou often hear people say “moving averages don’t work” or “everyone sees the same exact moving averages on the same charts, so they have no value!”But here’s the reality: most serious technical analysts understand that a moving average is not the same as a trading strategy or even a signal. I don’t buy and sell purely because of a moving average.But moving averages do help me read the trend which improved my decision-making process.They are a big piece of the puzzle. Not the entire puzzle!What Is the Difference Between Simple and Exponential Moving Averages?There are 2 types of moving averages — simple and exponential. Each is calculated in a slightly different way. A simple moving average is just what it sounds like — a simple average of the stock price. (the closing stock price, specifically) An exponential moving average gives extra weight to recent prices, so it does a better job of measuring the near-term trend. It’s not worth getting into the math here. Here’s Google (GOOGL) with its 50 day simple (blue) and exponential (pink) moving averages.The Moving Averages I Use for Swing TradingTechnicians and traders tend to focus on the 10, 20, 50, and 200 day simple moving averages, which you can think of as follows:8 day simple moving average: very short-term trend21 day simple moving average: short term trend50 day simple moving average: intermediate trend200 simple moving average: long-term trendI use a slightly different set of moving averages in my own swing trading, and in my services like Power Plays.8 day exponential moving average: very short-term trend21 day exponential moving average: short term trend50 day exponential moving average: intermediate trend200 exponential moving average: long-term trendI use these same colors on the charts below.I use exponential moving averages in my swing trading because they are more sensitive to the recent price action, which gives me a better read on the short-term trend.Going forward in this article, all moving averages will be exponential.Is There a Difference Between an 8 and 10 Day Moving Average?You may be asking “Scott, why do you use the 8 day moving average? Why not the 10 day?”Most of the time, the 8 and 10 day moving averages will be very close together, as you can see in this ARM Holdings (ARM) chart:So are they the same thing? Pretty much.But here’s what most people miss about moving averages: It’s not the exact moving averages you use that counts.It’s how you use your moving averages to find new buying opportunities, avoid trouble, and manage your risk. When it comes to finding new swing trade ideas, I pay most attention to the 8 and 21 day exponential moving averages. I stick with them, because my brain is trained to judge the action based on those time frames.If I was using, say, the 10 and 20 day simple moving averages, I’d end up with similar results — I’d just get there in a slightly different way.Imagine you were training for a marathon.What matters more? How hard you work — or your brand of running shoes?The Power of the 8 & 21 Day Exponential Moving Averages in Swing TradingTraders often ask me why I talk about the 8 & 21 day exponential moving averages so much. Whether you see me on Fox Business, Twitter/X, or the Virtual Trading Floor®, you know I never go a few days without talking about my moving averages strategies.It’s because these moving averages are the most accurate short-term road map I’ve found.And I value moving average more than any other analysis I see out there.8 & 21 Day Moving Average Case Study I: The Bitcoin Turkey TrotOne of the biggest trading stories of the 2024 US Presidential Election was the surge in Bitcoin.I’d been very bullish on Bitcoin for many reasons — including the likelihood of
Continue Reading -->[Updated] Tesla & Bitcoin Game Plans
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are +8. As long as SPX holds the 5960 area, this active sequence can stay constructive without too much shaking of the tree. 6017 is the all-time pivot high. Bulls are starting to talk about 6300 in Q1. Overall, I’ve playing a little defense, but select trades are still working so I’m on the hunt for new ideas. Now let’s dig into some of our focus names. Bitcoin smashed through my $85,000 target way faster than I expected. It hit $94,000 and put in a huge topping tail. So I’ll have less exposure until we get some much-needed digestion. I’ll be looking to enter WULF, CORZ, MARA and MSTR again because Bitcoin could see $100,000 by Christmas. TSLA was a big hit on the election, and Power Plays made its final exit at $345.45 on Monday. Now the game plan is to wait for the $310 area, where it could set up another big trade opportunity. JPM hit a high of $248 and has since created a tight wedge-type pattern. This might help with the next direction. Above $244, perhaps it goes higher. Below $238, and it could see the $234 gap below. XBI is still frustrating. I added it to Power Plays at $102.54 and it’s been stuck in the mud since then. The ASH conference on December 7-10 is a potential catalyst, but if this breaks below $99, I’ll think about switching gears. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. *Scott Redler Positions Disclosure as of 2024-11-14 at 8.30.58 AM
Continue Reading -->Bitcoin + Tesla Go BOOM!
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. Welcome to the latest edition of Dog Bytes! SPX futures are +17 to start the week after a huge post-election trade. Europe is broadly higher. China is still choppy with no continuity. SPX hit a high of 6012 thanks to Trump enthusiasm and string seasonality. Bitcoin, TSLA, IWM, XBI, and AMZN have been key names for us lately. Now let’s dig into some of our recent Power Plays names: Bitcoin became my #1 theme on October 11th. It was $62ish and it hit $82k+. I’d always take some profits, but I’d think the Turkey Trot continues toward $85k by Thanksgiving. We participated in Power Plays via IBIT, WULF, and MSTR. I already trimmed my IBIT and WULF longs today. AMZN broke a massive barrier by getting through $200 once and for all. It hit a high of $212+ last week and I sold most of my $202.50 and $207.50 calls. I’d think this holds $207ish and sees the $220+ area in the weeks ahead. TSLA smashed through my $300-$315 forecast way faster than I thought. It went to $328+ Friday and is at $342+ this morning. I’ll trim and trail. Do not get cute and fight this move. XBI joined Power Plays on Wednesday because I expected it to break through long-standing resistance around $103. It’s finally waking up and I exepct higher prices into year-end. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. Your Trading Tip for This Week: Have a Plan I follow a strict set of risk management principles so I keep moving in the right direction. I respect key moving averages, pay close attention to the big trends, and keep losing trades in check. And, most importantly, I enter every day with a plan. When the market opens, I have a list of stocks I’m ready to buy or sell at specific levels depending on what I see. This way, I’m ready to react instead of hoping to stumble onto opportunities. Making a plan is not only important for my trading, but I consider it to be a major part of my job description. This Week’s Calendar All eyes are on CPI, PPI, and Retail Sales this week. And we have some key names reporting earnings like HD, SPOT, CSCO, DIS, AMAT, and BABA. P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-11-11 at 8.41.46 AM
Continue Reading -->Tesla and Amazon Still Poised to Win
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are +16, giving some upside follow-through to yesterday’s huge move. The Election is behind us and Fed Day is today. If anything can derail the rally, it will be inflation coming back and higher rates, so we’ll listen closely to Powell’s press conference. I took down some risk and booked a lot of gains into yesterday’s move to SPX 5936. In Power Plays, we have been focused on TSLA, AMZN, plus Bitcoin plays IBIT and WULF. Needless to say it’s been a nice week. Now let’s dig into strategy: TSLA was amazing for us. I was long the $260 and $270 calls into yesterday. Now, I am long the stock and calls for a move to the $300-$315 area. The stock needs to hold $273 now. Elon made a big bet by affiliating with Trump, but it certainly paid off. Remember, we always let the technicals guide us, which is why I was long into Election Day. I wasn’t just speculating on the outcome. AMZN was a big winner this week. I bought $202.50, $207.50 call and also went long the stock as it finally cleared the $200 wall to reach $207.55. I’m looking to buy dips for a possible move to $220 by year-end. XBI’s weekly chart looks great. I do have calls calls on. I’ll trim and hold some. This can hit the $110 area this quarter. I’d like to see it break through $103 with authority. Bitcoin became my #1 theme on October 11th. It was $62Kish. Tuesday, it hit $75kK. I’d always take some profits, but I’d think this starts a move to the $85K area by Thankgiving. PLTR changed some investors’ lives by hitting $55+. It’s a little extended now. Digestion above $51 makes sense. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-11-07 at 8.08.17 AM
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