New Rocket Lab Price Target After Surge
Two of our small-cap aerospace plays are enjoying a federal up-spend.
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Two $10K Portfolio price targets have been smashed (yes, again)!
Welcome to Wednesday morning. The portfolio has now seen five target prices smashed since last Friday. To say that the portfolio is red hot would not be an overstatement. To say that the portfolio has been aided by the broad market rally that has focused upon the federal up-spend on space and other cutting-edge areas of our marketplace would also be true. Let’s keep practicing our trade like professionals. In my experience, whenever it starts to feel too easy, I end up paying dearly for my arrogance.
Portfolio holding Sidus Space (SIDU) breached the portfolio’s $6 target price on Tuesday. The portfolio will make a small sale and adopt a new price target. Additionally, Rocket Labs (RKLB) is trading above the portfolio’s new $152 target on Wednesday morning, which was only an adjustment made in order to get that stock out of the way, so we could wait for some kind of technical development. I will have to make another small sale and go higher again with our long position in RKLB. My concern here is that the portfolio could run out of inventory in this name before the stock runs out of space to the upside.
Sidus Space
Readers will see that SIDU is now breaking out from a cup-with-handle pattern with a $6 pivot (which was the portfolio’s target price). Relative strength has just moved into a technically overbought condition as the stock’s daily MACD has taken on an overtly bullish posture. The portfolio will again make a small sale and take our target price up to $9 from $6. This new target is not temporary as it is indeed based on technical analysis.
Rocket Lab
Readers will see that the shares of RKLB broke out of a falling-wedge pattern of bullish reversal in April and have since gone parabolic. This vertical rally will come to an end at some point, but I need to get what is left of this position out of the way. Relative strength and the daily MACD are about as positive as these indicators get. The portfolio will again have to make a small sale in this stock in observance of our code of discipline and take our target price up to $185 from $152. This new target is not based on the technicals. This is a move to preserve some inventory as a new pattern eventually develops.
Upcoming Portfolio Earnings
Planet Labs (PL): after the closing bell on Thursday, June 4
Tuesday’s Intentions vs Tuesday’s Actual Trades
Intention: Sell 5 shares of (VELO) at or close to the last sale of $24.83
Actual trade: Sold 5 shares of VELO at $25.00
Intention: Sell 3 shares of PL at or close to the last sale of $48.42
Actual trade: Sold 3 shares of PL at $49.60
Wednesday’s Intentions
Sell 15 shares of SIDU at or close to the last sale of $7.09
Sell 2 shares of RKLB at or close to the last sale of $152.82
Current Positions
Long 2 shares of (AMZN) at $263.71. Target price: $324. Last sale: $265.79.
Long 60 shares of (EVLV) at $5.9895. Target price: $8.50. Last sale: $6.44.
Long 200 shares of (OCUL) at $8.271. Target price: $11. Last sale: $8.29.
Short one (OCUL) $11 September 18 call at $1.65, Last sale: $0.96.
Short one OCUL $9 July 17 call at $0.90. Last sale: $0.90.
Long 125 shares of ONDS at $9.4749. Target price: $14. Last sale: $10.07.
Long 7 shares of PL at $37.18. Target price $55. Last sale: $51.92.
Long 12 shares of (PLTR) at $140.30. Target price: $194. Last sale: $134.25.
Long 5 shares of RKLB at $59.206. Target price: $185. Last sale: $152.82.
Long 125 shares of SIDU at $2.725. Target price: $9. Last sale: $7.09.
Long 200 shares of (SNAP) at $5.7642. Target price: $7.50. Last sale: $5.71.
Short two SNAP October 16 $6 calls at $0.87. Last sale: $0.94.
Long 175 shares of (SOFI) at $15.9573. Target price: $24. Last sale: $16.21.
Short one SOFI August 21 $20 call at $1.02. Last sale: $0.68.
Long 35 shares of VELO at $12.3231. Target price: $30. Last sale: $25.59.
Cash: $752.12.
Portfolio Value: $12,373.28, +24.7% from inception on March 24.
At the time of publication, Guilfoyle was long AMZN, EVLV, OCUL, ONDS, PL, PLTR, RKLB, SIDU, SNAP, SOFI and VELO.
