December 18th, 2023 Watch List

Futures are pointing to a slightly higher open as I write this. Asia markets fell overnight while Europe stocks are in the red but off the lows. The US dollar is lower while Yields, Oil, and Gold are all higher.

And here is my rant from Friday if you missed: https://www.optionmillionaires.com/jb-afternoon-rant-december-15th-2023/

The S&P closed higher for the 7th week in a row, despite a lackluster session on Friday, and is now a stones throw away from all-time highs. Meanwhile, the Dow closed at all-time highs. We are nearing the Santa Rally time-frame, which technically starts on Friday. Would expect some chop this week as we churn the recent gains. There is not much in the way of market moving data this week outside of the PCE on Friday. The SPY closed above the upper-bollinger band for the 3rd session in a row. Would think that $468.91 area will continue to be tested in the next day or two and hopefully provide support. Under that is the $467.50 level:

Z closed higher again on Friday and I used the move to close more of my calls for over 1100%. Think $60 comes soon. Will likely just hold the Jan strikes for that move. More and more positive pieces coming out over the weekend on Housing and the fact that there is pent up demand just waiting for rates to drop a bit. All this bodes well for names like Z and RDFN:

This should be the week TRIP finally re-visits the $20s. Will look to lock more of my Jan calls in when I get the chance and ride the rest:

I added BIIB calls on Friday as a 'catch-up' trade. Think BIIB will trade into the $255+ zone in the next day or two, and hopefully higher. Will look to lock some of the calls out on the way up:

Also still eyeing GILD. Think $85+ into the new year, may look at some Jan strikes today to play for that move:

A rough session for TRUP on Friday, after they announced they were not pursuing a roll-out in Japan with AFL. Doesn't mean they still won't, just means AFL won't offer it to their members in Japan. Really don't think it was a big deal and the stock traded down as the shorts likely continued to pressure it. It was up over 40% at times last week, so a pull was coming at some point. Hopefully can find some footing at $31 or so and start to head back up to $35+:

SSYS still setting up nicely. Will likely look to lock the last of my Jan calls in this week and hold the March strikes for the eventual move over $15:

WW seems to hate the 200dma. After closing right at it on Thursdsay, it fell nearly 4% despite all the positive developments... ie. Oprah using GLP-1 ect. It is the 3rd test of the 200dma since the start of November. Hopefully can find some buyers today and start to look to break thru that into the end of the year:

AYX was acquired this morning. It was one of my Top 5 stocks in 2018. And of course, it looks like DOCU is going to be acquired soon with news out Friday - another top 5 stock.. Those $57 calls I had for .22 hit $7.50 on Friday!

Will likely be another week of scaling out of risk. I will also be working on my Top 5 stocks for 2024 Webinar so don't be surprised if you see a new name or two I have never traded before.

And don't forget, the 2k challenge will start a week from tomorrow. Details here: https://www.optionmillionaires.com/the-2k-challenge-details/

And here is what I am watching today: GILD, YOU, RDFN, ALGN, Z, SPOT, AI,, ROKU, TRUP, ULTA, ISRG, 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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