Markets closed higher on Tuesday, with the S&P finishing the session up .24%. Asia stocks closed mixed overnight while Europe indexes are in the green this morning. U.S, futures are pointing to a higher open, the Dollar and Gold are lower while Yields and Oil are higher.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-271/
Stocks chopped around for most of the session yesterday, before finding an afternoon bid to close at highs. Continued consolidation today and tomorrow between $427-$429 would bode well for that $430 test and break on the SPY:
YEXT reported a strong quarter after the close yesterday, posting a beat and raise while also citing AI as being a catalyst for the results. The company is well positioned:
Think folks will jump on the AI hype with this one and push it above $12 and likely higher in the coming weeks. My Aug $12.50 calls will likely be up 500%+ at the open. Will look to take some off to cover costs plus some profit, and hold the rest:
FVRR rallied over 5% yesterday on no catalyst. I was able to close some of my June calls for nearly 100% to cover costs. Will continue to hold the rest of my June and July strikes. Think this is on a crash course with the mid-$30s in the next week or two as folks realize the sell-off from earnings was misguided:
It was a strong session for BIDU as well, testing the $139s before pulling back. I used the move to close some of my calls out for nearly 100% to cover costs. BIDU is gapping a bit lower this morning on negative China data overnight. Think the dip will be bought and BIDU will trade into the $140s soon:
TERN received another positive analyst note this morning:
Hopefully this time the stock can hold the morning gap and finally work its way into the $13s.
Another great session for VKTX, closing up over 4%. Only a matter of time before this heads into all-time high territory:
The NNOX bull-flag is still setting up... $27.50 or so is possible:
7 straight sessions of gains for ROKU. $70s are coming soon:
Still eyeing WING for a bounce and may look to add some spec AI calls if the stock nears $40 as I think it will get more FOMO.
And this is what I am watching today: AI, WING, DPZ, MDGL, BIDU, SAM, OLED, GLD, AMD, LRCX, MU, NFLX, GLL, TERN, QQQ, ZYME, SPOT, AXSM, SAGE, RARE, SRPT, BLK, EXAS, W, SHW, ABBV, and ALGN.
Let's have a great day!
-JB