Snowflake Inc $SNOW is absolutely on fire, breaking out of its coil with authority these past two days.

This is exactly the kind of explosive resolution we hoped for when we entered our position. Volatility was tight. Now, it’s expanding in our favor. This one is working perfectly according to plan.

Our 11/15 $130 calls hit a high price of $5.15 today. Depending on what you paid, you might have a double on your hands.
 

Tech stocks are taking charge as we kick off the fourth quarter, and I think it’s time to press the gas and prepare for a year-end rally.

When I review our portfolio of open positions I think we have a good mix, and I particularly like how overweight tech we are.

In fact, I think our most promising positions right now are the speculative tech names that we piled into over the past few weeks. I’m talking about Peloton, Robinhood, Snow, and ARKK.

HOOD and SNOW are the only ones working for us so far, but I think this is about to change.

Let’s take a look at the price action in ARKK and discuss why.

Following a nasty drawdown from the all-time highs made back in 2021, Peloton Interactive $PTON is coiling at the upper bounds of a textbook bearish-to-bullish reversal pattern.

An upside resolution from the past month's trading range will confirm a new primary uptrend for this battered growth stock.

Here’s the chart: