Markets closed mixed on Tuesday, with the S&P closing down .06% and for the second session in a row. Asia markets rallied overnight while Europe indexes are higher this morning. U.S. future are pointing to a green open, the Dollar, Yields, and Gold are higher while Oil is lower.
It was another choppy session for markets on Tuesday, with stocks rallying to highs at 11am, only to give back the gains and then chop around in a tight range for the rest of the day. The big data piece yesterday was the JOLTs report, which showed more declines in job openings. The bad news is good news cycle for markets maybe coming to an end soon. After the close today we get earnings from AI and GME. And on Friday we will get the November jobs report. Looks like consolidation has continued on the SPY, and think that $460 handle test comes before the week is out:
It was another monster move for VKTX yesterday, closing up another 15%. The stock is now up 33% this week alone. I used the move to close the rest of my Jan $15 calls for 700% and over 900%. I also locked some of my Mar calls in for over 300% and went and added more Jan calls, I still have Jan $25s as well. Think $20+ is coming soon and who knows, $25+ can come as the hope train grows. At the same time, it has a 19% short interest so there are always going to be folks out there trying to pressure it some how, so didn't want to leave all the risk on without taking profits. Will continue to look for opportunities to lock some more profits in and ride the rest:
Another green session for Z. Will be looking to possibly add some more calls on the 200dma break above $45.82:
TRUP closed down over 4% yesterday but still looks like it is in a strong uptrend. If you follow my Twitter, I have been very passionate about what I feel is a concerted effort by shorts to bankrupt the company with their non-stop FUD... ie. creating Fear Uncertainty and Doubt., which is easy to do with an insurer. The stock has a 40% short interest so there are many folks with a vested interest on destroying the company. Will not be adding any strikes just yet but do think it can squeeze on a break above $31(where I would look for more calls):
I added some SMG calls, as outlined on yesterdays watchlist. Feels to me like the companies expectations have been reset and now the stock can work on beats and raises into 2024. There is a nice air pocket on the chart from $60.20 to $67. Think once that $60.20 handle holds it will be blue skies - as I typically do, will look to close some of my calls out to cover costs when I get the chance:
AVAV reported earnings after the close yesterday that bested estimates while also raising guidance. The stock is up in the pre-market. Should trade north of $150 but it is possible the numbers were not enough for some. I will probably look to lock the last of my calls out at the open and revisit:
SSYS, TRIP, and YOU all had red sessions yesterday. Still love all three for upside in the coming weeks.
WW continues to be frustrating. After failing to break the 200dma last week, it has come down to multi-month lows. As I have been saying for the past few months, think WW will be the ROKU of health in the coming years. Won't be adding anything more until that 200dma breaks and holds for a day or two:
Some other names on my 'Ketchup' list : CHWY, ZBRA, GILD, BIIB, and RDFN. Hope to have the full list out later today.
And here is what I am watching today: 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!