It’s SpaceX Week, everybody! I wrote our Gold and Platinum members on Saturday about my Focus on SMH, and my cunning plan is working out great so far. I bought a very, very large block of SMH late on Friday (see arrow) as a counterbalance to all my shorts, and this is going great thus far.
I got a bit of a scare of this cunning plan yesterday afternoon when The Director told me about Iran bombing Israel. Yes, that spiked oil big time (red arrow), but it looks like, a dozen hours later, everyone is just shrugging their shoulders again.
The fear index, VIX, roared higher on Friday, but it looks like it is settling down as well. The powers that be are going to move heaven and earth to give SPCX a pleasant party.
To be clear, I’ve still got a ton of shorts and puts, but besides my huge SMH long position on Friday, I also covered my big ETF shorts before the close. I’m absolutely going to take a hit on just about every position I’ve got this morning, but I was completely expecting this. The /NQ has already worked its way up to the first zone of resistance.
Paper-handed dork that I am, I’m going to grit my teeth and try my very best to hang on to my SMH long until my target price, shown in red. This is going to be a VERY exciting week, everyone!
