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See how Stephen made a 108% gain with the Wave Indicator
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Monday April 14th
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“He who jumps into the void owes no explanation to those who stand and watch.”
– Jean-Luc Godard
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Happy Monday folks!
After a chaotic last week, I’m pretty positive that this week will be a little slower…until Trump tweets again.
Over the weekend, China announced they would be putting export controls on rare earth minerals. Many have been warning for years about the vulnerability of U.S. tech to just such a move. China produces 70% of the world’s rare earth minerals.
Meanwhile, the Trump admin carved out tariff exemptions on iPhones and other key tech components, like semis. The big question is:
Is Trump caving? To be honest, I don’t know! And I would be wary of listening to anyone outside of the administration who claims to know what’s going on. The backroom talks are probably pretty crazy, and I would love to be a fly on the wall. But we are so far removed from the planning that we would be fools to try and figure it out.
Bessent literally helped crash the British pound with Soros back in the day. I would think there is some plan, and they would have accounted for the craziness in the bond market last week. If you weren’t following it, while the markets were selling off, so were bonds — which is not what is supposed to happen.
Maybe this was what spooked the administration? Hard to say. We do know that they want the 10-yr to come down. Part of me wonders if the chaos is all part of the deal; if the Trump administration really does want to make deals, they probably recognize that they can’t wreck the global economy too bad. Not only that, but they need to offer China a face-saving off-ramp.
So, in that light, the carve outs are a negotiating piece. Or they actually did get spooked, and we’re being run by idiots. Again, I really don’t know. All we can do really is just look at the charts, play the price action. I think now more than ever, it’s important to stay in our lane.
That being said, let’s look at some levels this week. First off, SPX.
I think our previously established levels hold. 5122 on the high side and low 4900s on the low side. With nearer range support at 5400.
OKLO
If OKLO can defend the $23.38 level, I see a move higher to at least $26. In that case, the May monthlies at $26 are trading for under $2.
KTOS
I like KTOS. We have a smooth 9/20 crossover. And we have an X-Pattern forming as well. I would probably take 16 MAY 25 ITM calls at $32.5.
KLG
KLG is in a nice upward move as well. The 17 APR 25 $20 calls are cheap — though they come with a wide bid-ask and not too much liquidity. Though if you get in, I do think KLG could hit $20 within the week.
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To Better Trading,
Alex Reid
