Markets rallied again on Thursday, with the S&P adding .77%. Asia stocks fell overnight while Europe indexes are in the red the morning with the Dax off over 1.5% as I write this. U.S. futures are pointing to a lower open the Dollar, Yields and Gold are lower while Oil is higher.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-5-14-26/
Stocks opened higher on Thursday and never looked back with the S&P closing at its 18th all-time high. The US/China summit stole most of yesterday's headlines and there was not much in the way of market moving updates out of it... ie. major deals ect. Outside of that it was another session of yields remaining elevated. Not sure how many times I have mentioned it the past few weeks, but think that is the next topic folks will use to rationalize a sell-off... yields. And who knows, they may throw in a US debt rating downgrade in there as well.
Futures started falling overnight, with South Korean markets tumbling, and have yet to recover. South Korean markets closed down over 6%, Also this morning you could say there is continued angst over the Strait of Hormuz and rising Oil prices. But Oil prices and tensions in the Strait have been there for 4+ weeks now. Funny how things matter when they matter and not a second sooner or later.
Today feels like a mini-rgeed reset with markets at highs. And who knows, maybe we have seen market highs for the forseeable future. Will be a big test today to see if that is the case. $738 has been key support since last Friday with $748.54 being resistance if somehow we go red to green. For some reason today does not have the same feel as Tuesdays red open:
And those yields:
Wow. What another day for ENPH! The stock closed up 14% and is now up over 30% for the week. I closed more of my calls out for over 1,300% and held the last few. It was not an easy hold. The stock actually looked weak after the open, reversing $1.81 from the open to test $40 at 9:45 and then started to slowly bounce. I was close to locking the calls in and revisiting, good thing I didn't:
Today is day 3 of the test. ENPH has a history of giving back all its gains so if it shows some type of strength again after the open, this could be the sign we are in the midst of a repricing/rating of ENPH and SEDG and I will start looking for more calls for a move to $60 and then $70+
I added SEDG as outlined on the watchlist. If you heard my rant I described how it took about 15 minutes of my time in the morning getting filled all the while watching ENPH and SEDG bounce. SOO frustrating. Either way, finally able to fill next week calls and was able to close some out for over 100%. They closed up 300% or so and will take it on the chin at the open. But again, like ENPH, if it shows strength in the morning may look for some FOMO calls:
I added spec HTFL calls yesterday, They had earnings after the close and posted a beat and raise. I am surprised it is not gapping higher. Will be interesting to see how it reacts after the open, If it shows strength and rallies over $33-34, I may look to add more strikes. Will try and have a nice writeup at some point on HTFL, such a great story:
I traded CELH a while back in 2025 for some nice gains but missed the bigger move so it's always on my radar. The stock has been absolutely pummeled lately with no major news or catalyst so once it started bouncing yesterday I went looking for some spec calls and added some for next week. It won't take much for it to get going, especially on a $30 break:
One of the says software gets going again. Today maybe a good day for lottos so maybe a bit more aggressive in ASML, DUOL, APP, NOW and SHOP.
And of course, can never rule out this is the start of a major pull into next week so I am open to adding some spec puts.
And here is what I am watching today: HTFL, GLW, MRNA, ALMU, JOBY, RDDT, ROKU, AAP, ENPH, SEDG, AXSM, COCO, ATOM, RBLX, ALGN, META, AMZN, CRBP, HIMS, NFLX, BIDU, SMCI. NKLR, AAOI, LMND, AVGO, INTU, ADBE, APP, WING, LRCX , ASML,ORCL, U, TTD, and TSLA.
Let's have a great day!
-JB