February 15th, 2024 Watch List

Markets rallied on Wednesday, erasing some of Tuesdays losses, with the S&P adding .96%. Asia markets finished up overnight while Europe stocks are higher this morning. U.S. futures are pointing to green open, the Dollar, Yields, and Oil are lower while Gold is higher.

Stocks gapped higher yesterday and never looked back, melting up for the rest of the session to close near the highs of the day. Funny how sentiment works. Tuesday you would think the next market crash was coming. This morning you would think new record highs are coming... comical. It is why it its important to keep an open and even mind. Speaking of record highs, the Nikkei is up nearly 50% since last year and on pace for record highs. This morning retail sales #'s missed estimates... finally a data point that may contradict the CPI number on Tuesday. Futures rallied on the report. If markets open as I write this, they will have erased Tuesday's losses. That $490 spot will be etched in the sand as support with that upper-bollinger band of $504 as possible resistance now:





Ironically enough small-caps have pretty much recouped the entire 4% drop on Tuesday. Quite a few folks out there pounding their chests on the bear side... funny how that works, IWM is over $200 this morning and will continue to watch small-caps as a possible indicator:

SPOT closed up over 2% yesterday and I used the move to close my calls out for over 100%. Think $248 is next, and if that breaks, $255 or so, but did not want to miss out on taking the profits. Certainly will be watching again for opportunities to trade some spec calls for that possible move:

I also added some U calls, as outlined on yesterdays watch list. The stock closed right at its 50dma. Think once that breaks the $40s will come. APP also reported a monster beat and raise after the close yesterday and should help push U higher today. Will look to close some of the calls out to cover costs when I get the chance, and ride the rest:

AI closed up nearly 2% yesterday and is gapping up near $30 today. $29.97 is the 200dma. Think $34+ comes quick if it an break that and hold today:

VKTX traded up another 5% yesterday and closed at more all-time highs. Expectations are growing for their data, which will be out in the coming weeks. Great data and maybe $40 and higher. Any blips or question marks and it trades into the lows $20s. High risk, high reward. Still looking to add some March strikes but will wait for premiums to come down:

WW traded up 3% yesterday after a rough session on Tuesday. After the close they announced they will report earnings in two weeks on Feb 28th - the catalyst this stock needs to get back on track. Not adding anything here and hopeful it can start working back over $5 in the coming days:

A strong session for FVRR yesterday, closing up over 7%. They will report earnings a week from today. Still holding my freebie March strikes and may look for some more calls to encompass earnings. A strong Q and maybe the stock starts trading up near $50 in the coming weeks:

DDOG closed up 3% yesterday but I am running out of time on my spec calls. Hoping it can find a squeeze on the $140 breaks. Not sure I will add anything here and revisit:

I was hoping ROKU would rally a bit more into earnings after the close today. Thankfully premiums are holding up. I will likely close my spec calls out and wait until tomorrow to trade. Think ROKU will post another monster Q but not convicted enough it will run 25-30%+ on the report. Only way I will hold is if I can ride free:

Still eyeing RBLX for calls and watch out for DWAC, it is rallying this morning and my calls may come back to life. It I breaks into the $60s I may add some fomo calls.

And here is what I am watching today: ROKU, DWAC, VKTX, SPOT, U, FVRR, RBLX, 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

-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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