February 13th, 2024 Watch List

Markets closed mostly lower to start the week, with the S&P finishing Monday down .09%. Asia markets closed mostly higher overnight while Europe indexes are in the red this morning. U.S. futures ate pointing to lower open while the Dollar, Yields, Oil, and Gold are all higher.

The S&P put an end to its 4 session winning streak yesterday, closing off .09% and well off its highs of the day. The SPY sat at $503.50 at 1pm before closing at $500.98. At some point we will have a 3-5% pull-back for no other reason than folks taking profits. This morning January CPI data came in a tad hotter than expected and futures are falling. Have tho think expectations for rate cuts in March and May continues to get scaled back. I think that is a good thing long term... helps temper expectations. That $490 handle is the line in the sand, and would not want to see that broken today if things get dicey:

Small-caps continued to show strength yesterday, adding another 1.8% A good sign but still watching:

AI soared another 9% yesterday, closing at $31.18. There was no news or catalyst to speak of outside of FOMO... ie. folks trying to play catchup on AI names and the space. I used the move to close some of my Feb 23rd calls out for 100% to cover costs. Of course in hindsight, it would have been nice to still be holding my $30 calls at .14 but always smart to take profits. I also went and added some March 15th calls to cover earnings on the 28th. The plan would be to lock some of those in to cover costs as well and ride the rest. Likely will be choppy but do think $35+ comes soon:

FVRR also rallied yesterday, nearing the $32 handle before giving back some of the gains to close up 4% at $30.50. I used the move to close some of my March calls for 100% to cover costs. Hopefully can hold that $30 handle today and start working its way to $34 or so in the coming days. FVRR earnings are next week so will likely hold the freebie calls into that event:

Of course I was looking at TRIP for earnings this week as mentioned on the watchlist yesterday. After the close TRIP announced they are forming a committee to weigh potential transactions... ie. a buyout. The stock is trading up to $25 in the pre-market. If there are suitors, have to think $30 or so would be the top for a buyout so likely will take TRIP off my watchlist for now, though I do love the story:

WW recouped most of Friday's losses to close above that key $5 handle. A good sign here and I think more and more eyes will be on it as a GLP-1 play in the coming weeks. The 50dma is at $6.30 so still have plenty of room to the upside:

A flat session for ALT but those bollinger bands are getting tight. A big move is coming soon, of course I am biased to the upside so think $15+:

Same for BURL... $210+ soon:

ROKU traded up 2% yesterday but premiums remain elevated with earnings on Thursday. Still eyeing some potential spec calls but will be patient:

BYND traded back under $7. Still riding the freebie calls and may look to add some more calls on any strength:

And still eyeing SPOT and ADBE for possible spec calls today.

And here is what I am watching : FVRR, ROKU, VKTX, TRIP, ROKU, SPOT, ADBE, GPCR, MASI, AI, BURL, NFLX, SNOW, RBLX, U. ALGN, CDLX, FVRR, IBM, TSLA, STAA, W, YOU, ALT, TWLO, ISRG, STAA, BIIB, GILD, AMLX, RDFN, Z, AI, TRUP, ULTA, RBLX, TGT, AVAV, EXAS, AAPL SQ, LRCX, LULU, LLY, and NVO.

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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