December 11th, 2023 Watch List

Futures are pointing to a slightly lower open to start the week, with S&P futures down .09% as I write this. Asia markets closed mixed overnight while Europe indexes are mostly higher this morning. The US dollar and Yields are in the green while Oil and Gold is lower.

And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-367/

And here is my Rant from Friday if you missed it: https://www.optionmillionaires.com/jb-afternoon-rant-december-8th-2023/

The S&P closed up .43% on Friday to make it 6 straight weeks of gains. With only 3 weeks left in 2023, would be hard pressed to think the market will do anything but go up, or at least hold the gains, into 2024. This week is a big one, with CPI data tomorrow, PCE data on Wednesday, and then the Fed statement and press conference Wednesday afternoon. The markets is pricing in a 98% probability the Fed keeps rates unchanged, though expectations for the Fed to keep rates the same for longer have started to increase after Friday's stronger than expected Jobs report. At some point, the 'good news is bad news' cycle for the market will end, and hoping Friday was a good indication it has. Inline or cooler than expected CPI and PCE data into the Fed should bode well for markets at least holding their ground this week. That $460 handle looks like key support/resistance just like $455:

It was another strong session for VKTX on Friday, closing up over 2% and it ended the week up over 42%. I used the move to close the last of my Jan $25 strikes for 100%. Will continue to hold my higher Jan strikes and the Mar calls. If it breaks $20 today, may look for so more strikes. Think $25+ is coming soon and then higher into 2024:

TRUP closed in the green for the second session in a row and looks primed for the move to $30+:

WW closed higher for the 3rd session in a row. Still waiting for that 200dma to break at $7.94. Once that happens will add more strikes for the eventual move back into the double-digits:

Z ended its 6 session winning streak Friday. Still think $50s and beyond coming soon:

SSYS closed at highs on Friday and looks poised for that move to $13+ - think it will be $15+ into 2024. Will be looking to lock more of my Jan strikes in today for some profits:

CHWY has their investor day Thursday. As I mentioned last week, think CHWY can be one of those 'catch-up' names into 2024. Will be eyeing some calls today. Think $25+ possible:

ADBE reports earnings after the close Wednesday. May look at some calls to play for a move to $640+ post-earnings, though premiums are expensive so will be patient:

Will continue to keep things small until I can scale out of more positions/risk.

And still finishing up the details on the 2k challenge, was hoping to have out this weekend, will try to have out today or tomorrow. Thanks for your patience.

And here is what I am watching today: ADBE, CHWY, Z, SPOT, AI, Z, ROKU, TRUP, ULTA, ISRG, ALGN, ADBE, ROKU, RBLX, TGT, FVRR, AVAV, NFLX, DIS, EXAS, AAPL SQ, WW, MA. MDB, AZO, LRCX, LULU, LLY, NVO, TWLO, AZO, ULTA, ORLY, NOW, SITE, MELI, AVGO, WIX, OKTA, CMG, QQQ, BLK and TEAM.

Let's have a great day!

-JB

JimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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