SRPP Update: Exit TSLA & WULF, Trim IBIT - T3 Live

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Power Plays Update: Exit TSLA & WULF, Trim IBIT
November 11, 2024

By Scott Redler

The post-election action has been great to us in Power Plays.

But the so-called "Trump Trade" may be getting too crowded and it's time to back off.

First, we'll take off Tesla (TSLA). We added it to Power Plays at $250.41, and it's now way past my $300 to $315 price objective. I'll look to reload on a pullback.

We'll also take off Terawulf (WULF) into earnings. It joined Power Plays at $5.28 and it's around $9 this morning on Bitcoin's surge over $80,000. I was looking for a move to $7.50 to $8.50 so today's action is a nice surprise.

And finally, I'll trim another 25% of iShares Bitcoin Trust ETF (IBIT), leaving us with 25% of the original position. I do think Bitcoin still has some upside left in it, but I want to manage risk appropriately.

-Scott

Scott Redler Positions Disclosure as of 2024-11-11 at 10.24.11 AM

Screenshot 2024-11-11 at 10.24.11 AM

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