December 27th, 2023 Watch List

Markets closed higher to start this holiday shortened trading week, with the S&P adding .42%. Asia stocks rallied overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a flat open, the Dollar, Yields, and Oil are lower while Gold is higher.

And here is my Rant from yesterday if you missed : https://www.optionmillionaires.com/jb-rant-december-26th-2023/

Markets melted higher yesterday, in a boring, low-volume session. The S&P logged its second lowest trading volume of 2023 outside of the half-day after Thanksgiving. With no catalysts to speak of this week, would think the action will continue today and into Friday. At some point, profit-takers will come in and induce a sell-off like we saw last Wednesday afternoon. Hoping that is not going to happen, but I would not be surprised. The SPY broke and closed over that $475 handle, which looks like support for now. Only .50% away from all-time highs, so that $477.40 area could be some resistance:

As outlined on yesterdays watchlist, I went and added some ALT calls. Think the biotech sector is set to outperform in 2024 and ALT likely will gain some more momentum as the year ends. The stock closed up 18% yesterday and is gapping higher this morning. I will look to close some of my calls for 100% today to cover costs and ride the rest. I could see ALT going to $15 at least, but I also wouldn't rule out some FOMO and a move to $20+ in the coming days. At the same time, it does sport a 12% short interest so will remain volatile:

And longer view:

SSYS rallied yesterday after the NNDM buyout offer over the weekend. Would be shocked if SSYS accepts the offer, but the offer does help put a bid in the stock and would assume NNMD will raise their offer after a rejection. I used yesterdays move to close the rest of my Jan calls for nearly 700% and also closed some of my Mar calls for nearly 300%. Will likely just hold my Mar calls into 2024. Think SSYS could trade to $18+ in the next month or two:

MASI has been stealing headlines this week after the ITC banned Apple Watches due to possible patent infringements on its blood-oxygen sensor. MASI filed the suit against AAPL and won back in October... AAPL was given a two month window which just passed yesterday. MASI was one of my Top 5 stocks for 2023... some of the premise was on that patent suit. MASI reported earnings in the summer that missed estimates and they lowered their guidance from growth to flat growth. The stock tanked. It has been on the mend since November and think the recent attention will only help the stock. Will be looking at some calls today, likely Jan or Feb strikes for a move to $135+:

A great session for RDFN yesterday, closing up nearly 5% and over the $10 handle. Hopefully can break-thru that $10.30 handle from last week and work its way over $11 before the week is out:

A solid session as well for EXAS, closing up nearly 3% and at its 200dma. If that holds today, think $80+ before the week is out:

Flat sessions for YOU, FVRR, and TRIP. Hopefully those can get going here today.

ROKU is showing signs of reversing the recent sell-off. If it finds buyers, could see $115+ in the coming week or two. Also, this AMZN news that they are putting ads on their prime videos only puts more credibility into the bull case for ROKU. May look at some spec calls today and/or some strikes into 2024:

SMG is still setting up nicely for the eventual $70 test:

Still have my eyes on BIIB, GILD, and SPOT but will likely be keeping things small today until I can scale out of more positions.

And here is what I am watching today: MASI, ROKU, ALT, BIIB, GILD, SPOT, AMLX, 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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