Markets closed higher to start the week, with the S&P adding .44%. Asia stocks finished mostly in the green overnight while Europe indexes are mixed this morning. U.S. future are in the red, the Dollar and Gold are lower while Oil and Yields are higher.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-4-6-26/
Stocks closed higher yesterday on the heels of Trumps threat to destroy Irans Power plants and infrastructure if it does not open the Strait of Hormuz. I was mentioning it on the rant yesterday, it was an almost like an odd calm... hopefully not the calm before the storm. It is less than 12 hours until the 8pm eastern deadline Trump set. I am hopeful some type of resolution is reached and the markets action makes me think that is the likely outcome... unless the market has already priced the event in? Would have to think if 8pm comes and goes with no deal, Oil is over $130 and we start getting closer to the point of no return in regard to Yields... then inflation... and then of course, markets. I don't think anyone has $130+ oil on their 2026 bingo cards.
After the close yesterday, $AVGO posted an 8K showing an updated agreement with Google to develop and supply TSU's thru 2031 and also in a separate deal announced a collaboration with Anthropic. AVGO performance since the end of 2025 has been lack luster. maybe the kick it needs to get going.
Tomorrow we get the Fed minutes, PCE data Thursday and then CPI Friday. If we get some resolution tonight on the War in Iran, maybe those events will matter. That 200dma on the SPY has been strong resistance the past 3 sessions. If/when that breaks, should see some nice upside:
GLW opened at $147 and tried to break into the $150s but failed. Sellers came in and the stock started to fade. I didn't want to lose the profits on my calls so closed them out. Will continue to watch for opportunities to play for upside:
WING is one of my favorite names over the years. It has been under pressure this year for no major reason I could see... almost as if it was caught up in the SAAS sell-off. It finally started to shows signs of bouncing so I went and added some calls yesterday. It rallied up to $167 and my calls were nearly a double, but then came under pressure. I didn't want to see the position turn south so I closed the calls out for a small gain. Will be watching again today for a possible entry, likely lower strikes:
I am back in KODK. The stock held Thursdays gains. If it was just a pump and dump figure the sellers would come in and they didn't. Think the odds of more upside are higher but at the same time nothing is certain so took some inexpensive far-out-of-the money calls. The stock hit 52 week highs yesterday. Once this gets going again will be $12,13,14+ quick:
Today is another one of those days I will be keeping things small. Who knows for sure what happens tonight.
ANET received an upgrade today, may look at some lottos there along with AVGO after the news yesterday. And of course watching RDDT and RBLX.
And here is what I am watching today: KODK, RDDT, ANET, RBLX, WING, GLW, U, RDDT, LRCX , ASML,ORCL, U, TTD, GLW, AAOI, TSLA, ALMU, VKTX, RH, ROKU, RBLX, SEDG, KODK, NKLR, SEDG, AAOI, DUOL, GLW, ALGN, ISRG, LMND, CF, NTR, IPI. SERV, SHOP, ANET, HTFL, ROKU, POOL. V, MA, ZM, WING, SHOP, SQQQ, MRNA, DUST, FLWS, COCO, COIN, KODK, and SQQQ.
Let's have a great day!
-JB