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 the pivot tops.
Plug & Play Primary Wave Set-ups
Well, it was worse than an inside week. Powell definitely took a pivot off the table. I’m not going to say short at will, but it’s probably pretty darn close. Lets see what Mondays opening range brings and we may add a few counter trend plays this week.
Looking for spots to buy and/or sell cash-secured puts.
F Next Entry Long is now! With the first target around $17.98 then $20.98. We have Daily trigger and the weekly trigger may or may not fire before the $17.98 breakout line. So, a full position is viable with this look. Just mind your on any weekly close below $14.94. That would imply one more leg lower.
FCX A Primary Wave Set-up with a Daily Trigger (1/2 position size)
Raised the Stop to $29.45
RUN full position size! Target is $42.13. It may grind around here but as long the prior low hold should keep grinding.
Raised the Stop to $30.07
Plug & Play Trims And Selling Covered Calls
AAPL I’d call that a rejection! Pulled it…
VEEV I’d call that rejection too! Pulled it…
Looking for spots to trim gains and/or sell covered calls.
Primary Wave Set-ups NOT on the VSL
NIO Next Entry Long is now! With the first target around $31.35 with US exchanges’ being able to audit records, delisting is off the table. $24.50 is the breakout line, should be at a full position by then.