Really nice melt up in TLSA that was the thought into the end of the year. Blow past all time highs, gave a gamma type move up and have a PLTR-like personality after all time highs. FOMC and monthly options expiration this week so there is 0 reason to try to fade this until multiple factors make a mean reversion trade more likely. Just like MSTR on the melt up, the magnitude of the move is on the long side until part of the flywheel breaks. The options expiration, an unexpected fed comment, or Elon dumping shares could derail the TSLA move but outside of that the path of least resistance is up for now. 500 + expected this week and then maybe mean reversion when part of the flywheel breaks.
GOOGL another very strong name and really the go to for the quantum theme from the large tech angle. If markets stay up I think 200-210 is in the cards this week. However, the smaller quantum names had blow off types of moves today which means tomorrow will be more difficult for them to be as bullish. Think of the positioning. When things gap up like crazy and blow out all the shorts and have the options helping to run it up and then they crack, you get a situation where the set of conditions that made them move up so much reshuffles and then they become long biased and that’s when you can get some cleaner moves to the downside. This is more of a near term view as in they may correct hard this week, but the sector could remain in play to the upside once they consolidate and get more normal positioning back in.
Thanks, Chris!
Thanks Chris