Another freebie for everyone in the spirit of my SPCX coverage. In short, expanded coverage is coming to an end. The trade has been made. Of course, if you visit me in office hours — open to all subscribers (free and paid) this Friday from 1-2PM — and you want to ask… well, how could I decline?

I was busy managing my CSP strategy, and as soon as I had finished… the trade came and went:

SPCX closed at $146.26, right below the 61.8% retracement. This is where it gets interesting. A 50% retracement doesn’t move anyone. Bears still bearish; bulls still bullish. But, making ground above the 61.8% carries weight across disciplines. I am in the business of getting it right. Here’s how I view that business as a trader and investor:

Next point of resistance is $157. If you see the stock make a material move above $146, go long 🏈.

If the stock fades — which it very well might if PPI in an hour or so scares money out of the stock — look to pick up shares around the 50% retracement level of $138. I anticipate the 50% retracement level to act as short-term support.

To the downside, I would cut bait if SPCX loses the 38.2% level.

If PPI doesn’t disrupt the narrative tomorrow and price sustains $146, I would hold my nose and buy the first tranche: 25% of a position, in my case. Then, set my calendar to check back in a month or two.

If PPI throws us a curveball, I might still add at $130; however, it would depend on what the S&P 500 is doing. Above the 7620 level — the lower part of the range I am using to gauge the market’s perspective on the economic backdrop — I will likely get my first tranche in.

As a market participant, I have decided I want a piece of SPCX. That said, my decision doesn’t need to be yours. SPCX is polarizing. If that is enough to keep you out, I won’t be the one to change your mind. I respect your principles, gangster.

Right now, I anticipate my interest will be a trade. But, if the stock doesn’t give me a reason to sell once I get in, I could stay a while. Either way, I am going to keep it small because I feel it is duplicative exposure to AI-related activities.