Markets fell on Thursday, with the S&P losing .54%. Asia stocks closed in the green overnight while Europe indexes are mostly higher this morning. U.S. futures are pointing to a lower open, the Dollar and Yields are also lower while Oil and Gold are higher.
And here is the last rant if you missed: https://www.optionmillionaires.com/afternoon-rant-2-26-2026/
Stocks were set to open slightly higher yesterday, and then the bell rang. NVDA, which was green up until the open, immediately came under pressure and markets followed suit. The SPY tumbled from $693 to $684 within the first hour of trading - It was almost identical to Monday's sell-off. Stock tried to bounced into the noon hour, tested lows again at 1:30 pm, and then bounced into the close with the S&P finishing the day down .54% albeit off the lows of the session.
It almost felt like a rotation of sorts yesterday with software names finding bids while the Chip/AI/Semi space took it on the chin. ASML, LRCX, LITE, COHR, GLW, and on and on all fell 4%+. While NOW, CRM, FROG, TEAM, and others all rallied 4%+. Not the healthiest of action but I'll take that over all sectors falling. Yields continue to drop and mortgage rates hit their lowest level in 3 1/2 years. So there is that in the positive side. The negative side is the Great Circle Jerk continues to be laid out there as the next catalyst for downside. After the close yesterday earnings from CRWV missed estimates and raised more worries around that Circle Jerk... interest expenses rose and they talked of more delays in data centers coming online. CRWV maybe the one that could be the proxy for that whole circle. (mental note: need to spend time looking at that one this weekend).
Also after the close XYZ reported a decent Q but then announced they were cutting their workforce to the tune of 40%. Wow. I don't get how a company can cut that amount of workforce and still exist. That is a complete breakdown in leadership in my humble opinion. Nice read here on some of this:
https://x.com/ecommerceshares/status/2027350058803294494?s=20
I lost my watchlist after this when I went to post at 8:20am. Will have this updated and talk more on the rant later.
In a nut shell Watching LMND, RBLX, RDDT for calls into next week. if the market breaks down from the open, will be eyeing V , MA , JPM outs and of course my typical lotto puts on LRCX, ASML, and others.
And here is what I am watching today:, SERV, GLW, RDDT, RBLX, V, MA, ZM, SEDG, WING. ROKU, SHOP, SQQQ, INSP, GLW, ALGN, AVGO, ASML, GME, SHOP, GLL, GLD, MRNA, DUST, FLWS, NOW, ANET, SNDK, COCO, POOL, RH, SG, LMND, NKLR, COIN, KODK, MDB, MSTR, BIIB, INTU, WMT, HD, ZS, TERN, and SQQQ.
Let’s have a great day!
-JB