February 16th, 2024 Watch List

Stocks rallied again on Thursday, with the S&P adding .58%. Asia markets soared overnight while Europe indexes are higher this morning. U.S. futures are pointing to a green open, the Dollar, Yields, and Gold are higher while Oil is lower.

And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-406/

It was another green day for markets on Thursday, as stocks continued their post CPI rally. Retail sales numbers came out yesterday morning that missed estimates... finally some data that may counter-act the higher inflation numbers. Likely more chop today with $503.50 being resistance and the $499.07 area being support. Also, don't forget Monday is a holiday so markets are closed:

ROKU reported earnings after the close that bested estimates along with issuing higher than expected revenue guidance. Despite the report the stock is trading down on as folks construed the guidance as conservative. Thankfully I locked my calls in for some small profits. I think it may offer a tradable bounce today to the low-mid $80s. May look at some spec calls and/or some calls into next week:

DWAC rallied yesterday, closing up over 16% after the company got approval for its merger with Truth Social. I was able to close some of my calls out for 100% to over costs and held some into today. Have a feeling the FOMO is not done with DWAC and it may trade into the $60s and beyond next week. May look to add more calls today:

I finally entered some RBLX calls. The stock has been churning since its earnings gap and think it's set to break to new highs. Once it gets over $46, the $50s hold come quick:

AI closed up over 2% yesterday but right at its 200dma. I think it is only a matter of time before folks start to bid this up on the AI hype(again). $34 is the next area of resistance and will look to take more profits off on the way up:

A rough day for FVRR closing down 2%. Earnings next week so will look to continue to hold my freebie calls:

URI looks interesting here. It is not a name I have traded in the past but think it will continue to rally after its earnings. As I mentioned on my Top 5 Stocks for 2024 Webinar, infrastructure names have started to outperform and it is likely a function of the $1 trillion infrastructure bill passed a little over 2 years ago. A name like URI will continue to benefit. May look for some calls to play for a move north of $700 into March:

Citron Research came out with some bullish comments on BIDU on Wednesday. I echo his sentiments but it has been a tough trade. BIDU reports earnings in two weeks. I may look to dabble some spec calls today to play for some premium build into the report:

And still have my eyes on SPOT for some possible lotto calls today.

And here is what I am watching: URI, BIDU. DWAC, ROKU, 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

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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