As needed updates to Shooter’s long-term position trading Elliott Wave charts for our Plug & Play quarterly stock focus lists. Use these charts for:
- Adding to holdings and selling cash-secured puts near pivot bottoms.
- Trimming gains and selling covered calls near pivot tops.
Plug & Play Primary Wave Set-ups
Looking for spots to buy and/or sell cash-secured puts.
BX A Primary Wave Set-up with a Daily Trigger (1/2 size) measures to $139.65 for an Intermediate Wave I. It looks constructive here! The Stop is the 90 minute trigger at $97.25.
PBW A Primary Wave Set-up with a Weekly Trigger (3/4 size) measures to $68.17 for an Intermediate Wave I. It looks constructive here! The Stop is BE or the 90 minute trigger at $44.64 depending on your risk tolerance.
SPWR a Primary Wave Set-up with a Daily Trigger (1/2 size). Intermediate Wave One is extended now, which is good and measures to $25.74. Stop is now BE or the 90 minute trigger at $14.22.
Plug & Play Trims And Selling Covered Calls
Looking for spots to trim gains and/or sell covered calls.
BHP A little choppy! Maybe $40.39 for Next Entry Long now! I still like it as long as that Speedline holds.
SQ it was a primary wave, now it’s an intermediate 5 wave down that should top out around $116.95. Watch for early rejection. That $116 should be a viable target!
Primary Wave Set-ups NOT on the VSL
MSFT A new Primary Wave Set-up with a 90 minute trigger (1/4 position size). Measures to 23.6 1st and needs to hold at $306.79 then we see. Counts a bit dirty! Meanings I can’t see clearly on the shorter time frames either because of data distortion or gaps. Should clear up in a day or so. But we have clear Set-ups on the daily and weekly. Stop is the Set-up $246.44.
TSLA not exactly clean. Meaning the ABC is not equal! It should measure up to at least 50 day even if it gets rejected there. We have a 90 minute trigger, so 1/4 position size and add once its working. Watch this for rejection at the 50 day??? It will be important! I think this is structurally induced by the restructuring of the Twitter deal. So, I don’t know if it lasts.
SNAP Primary Wave Set-up with a 90 minute trigger (1/4 position size). Measures to $31.09 for an Intermediate Wave one. Stop is the Set-up ($12.55). Note, RSI is pointing down we could see one more candle down and then find a bottom somewhere between $12.50 and that $7.30 2nd entry label.
NIO Primary Wave Set-up with a 90 minute trigger (1/4 position size). Measure to $27.21 for a minor wave in early Fall 2022. Stop is the set-up line $11.67.