February 7th, 2024 Watch List

Stocks closed slightly in the green on Tuesday, with the S&P adding .07%. Asia markets closed mixed overnight while Europe indexes are slightly lower this morning. U.S. futures are pointing to a higher open, the Dollar and Gold are lower while Yields and Oil are higher.

And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-400/

The S&P traded in a tight range yesterday, bouncing between gains and losses, until a late afternoon surge pushed stocks to highs into the close. The kind of chop one would expect with not much in the way of catalysts this week outside of earnings and some Fed Speakers. A silver lining with yesterdays chop was the small caps, with the IWM reclaiming the 50dma. Still something to watch going forward:

Likely some more chop today. Still watching that $490 as support if things get dicey with $497.73 as possible resistance:

DWAC rallied out of the gate yesterday, breaking into the $48s. I used the move to close more of my calls out for 300%. The stock then faded to close at $45.49. Will likely just hold the last few calls and may add some strikes into next week if it finds some buyers today:

I also closed the last of my MASI calls for 100% with earnings looming. For some reason I thought earnings were yesterday but they are after the close today. May look to add some spec calls, likely $150 or so:

I added the last batch(tranche) of $WW calls, adding July strikes. The stock held $4 yesterday and rallied to close at $4.30, up over 11%. Once it breaks $5, it should really gain some steam. Will be looking to lock some calls out on the way up:

ROKU rallied over 6% yesterday, reversing the previous sessions losses, to close right near the 50dma. My $100 calls are now back to life and I went and added some lotto $104 strikes. If that 50dma breaks and holds today, think $100+ is a foregone conclusion. Premiums are tough into next week, with their earnings on tap, so will likely just hold what I have and look to lock some of my $100 calls in to cover costs when I get the chance:

I also added some spec calls in AI and ALT:

Think AI can rally to $30 in the coming days on the heels of PLTR earnings and as it reverses off a bottom:

And also looks like ALT is ready to retest its 52 week highs and finally break past $15. May look for more strikes today:

SPOT reversed gains yesterday. Will be watching for opportunities to add some calls.

CDLX and EHTH have been completely disappointing the last few sessions. May look to add more calls on any strength today.

And lastly, BURL remains so tight. One of these days will spark a breakout to $210+. Remains on radar:

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

Le'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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