Markets closed higher on Thursday, with the S&P adding .34% in a choppy trade. Asia markets closed mostly higher overnight while Europe indexes are mixed this morning. U.S. futures are pointing to a lower open, the Dollar, Yields, and Oil are higher while Gold is lower.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-178/
Don't forget, markets are closed Monday!
Markets closed higher yesterday after the December CPI data came in mostly inline with expectations. Now it will be all about the Q4 earnings seasons which heats up next week. The SPY closed above its 200dma yesterday but is now testing the upper bollinger band, Maybe a little consolidation is needed before the next leg over $400:
I made a few trades yesterday:
I added EVH calls as the stock tested its 200dma. It is a great story and was one of my Top stocks a few years ago in the teens. Think it trades north of $35 in the coming days:
I also added some ICPT calls. The NASH space is on fire as of late and ICPT seems to have been left at the curb. It's another name in the Bio space that trades nearly at enterprise value... ie. more cash than market cap. Think a move to $20+ is coming:
Lastly, I finally entered AXSM. The stock has been needlessly sold off and think it revisits $70+ soon. I may actually look for some later dated strikes today as well to play for a move past earnings in February:
SQ and RBLX had solid sessions yesterday. Will likely be under pressure this morning in sympathy with the market. Still think these are both higher in the coming weeks.
ZYME had some news yesterday, with a stakeholder adding more shares. Another positive development. May look to add some later dated calls for the eventual move over $10:
Having issues with my News feed so no upgrades/downgrades today. Will have fixed for next week
And this is what I am watching today: AXSM, EXAS, MASI, UDMY, NFLX, SQ., CME, ICE, BLK, SPOT, GNRC, VKTX, UDMY, RARE, SAGE, ALGN, IBM, CMG, and ROKU.
Let's have a great day!
-JB