December 22nd, 2023 Watch List

Markets rallied on Thursday, recouping some of Wednesday's sell-off, with the S&P adding 1.03%. Asia markets closed mostly lower overnight while Europe indexes are flat this morning. U.S. futures are higher as I write this, the Dollar is lower while Yields, Oil, and Gold are all higher.

Markets rallied on Thursday, recouping some of Wednesdays losses. The S&P is now up .72% and on pace for its 8th straight week of gains. This morning, PCE data came in below expectations. Good news is good news? We shall see. Markets pulled on the data but have since recouped the losses. Would think a possible test of $475 is possible today with the start of the 'Santa Rally' season. FYI: Next week is one of the lightest weeks for the markets in regards to volume and analyst changes:

I added some SPOT speculative calls, with the stock rallying after an upgrade from Pivotal research. I thought a move to $202+ was in the cards... still think it is possible but will need a near 5%+ rally today. Will continue to have my eye on SPOT into 2024 for more call opportunities:

I also entered EXAS calls. EXAS was one of my Top 5 stocks for 2023. Think it heads to $80 next week. Will look to close some of the calls out on the way up and hold the rest:

And lastly, added RDFN calls as outlined on yesterdays watchlist. Think it has a better risk/reward than Z right now with Z's recent outperformance. Also, RDFN trades less than 1x's revenues while Z trades over 5x's. Think $12+ comes in January:

Another great session for WW on Thursday, closing up over 9%. Will be content if it just holds this weeks gains (25%) but of course, wouldn't mind a move over $10 today:

AMLX is a name I have traded before and is back on my radar. I was actually close to adding some calls as I got on my afternoon rant. AMLX is mostly in the ALS space with key data out in the 1st half of 2024. I think it trades near $20(and beyond) in the next month or two. May look to add some calls today:

CHWY closed up another 7% yesterday and over the $25 handle. Will be looking to close a few of my Jan calls to cover costs and ride the rest. $28+ looks like the next test, though CHWY is up over 19% this week - will have some profit taking at some point:

Thursday was a green day for SMG, TRIP, SSYS, YOU, and FVRR. Still like those all for higher in the coming weeks and will continue to look for opportunities to lock profits in.

BIIB had one of its better session in weeks but will need to duplicate that for my calls to come back to life:

Likely keeping things small today ahead of the 3-day holiday weekend. If I do look for some spec/lotto trades today, it will likely be with ROKU.

And here is what I am watching today: AMLX, ROKU, SPOT, GILD, RDFN, CHWY, ALGN, Z, AI, TRUP, ULTA, ISRG, RBLX, TGT, FVRR, AVAV, NFLX, EXAS, AAPL SQ, LRCX, LULU, LLY, NVO, TWLO, NOW, SITE, MELI, AVGO, and WIX. 

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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