Markets rallied on Wednesday, with the S&P adding .57%. Asia markets closed higher overnight while Europe indexes are in the green but off their highs of the session. U.S. futures are pointing to a higher open as I write this, the Dollar and Yields are lower while Oil and Gold are higher.
Markets closed higher yesterday putting the S&P up over 1.8% this week and green on the year. This morning CPI numbers came in hotter than expected. Not the type of data one would want to see ahead of the Fed meeting at the end of this month. On the flip side, it seems there have been quite a few companies offering up pre-lim numbers that included raising guidance, a bullish sign for 2024. Earnings season kicks off tomorrow so would want to see that trend continue. That $475 handle was resistance on the SPY so would want to see that hold if sellers come in today:
MASI rallied yesterday after offering up some raised guidance in its preliminary #'s. The ITC filed a response last night to the stay on the Apple Watch ban, saying the bid to pause the ban should fail:
https://x.com/OMillionaires/status/1745405022781702208?s=20
Can't see how it can be construed as anything but net positive for MASI. Think MASI rallies over $130 on its own merits. I went and added some Feb strikes yesterday to go with my Jan calls. Will be looking to close my Jan strikes out at some point and just hold the February calls and may actually look for more later dated strike on strength:
ROKU couldn't hold that 50dma, closing down 2% yesterday. Still think triple-digits are coming soon. May actually look to add more strikes today if it can get back over $91.66:
ALT came right up to $13 yesterday before giving back all its gains and then some. Been some chop last few weeks between the $10s and the $12s, once the sellers are gone should be $15+ quick:
A decent day for VKTX yesterday after Tuesdays monster rally. Think the June highs will be broken soon and will continue to look for some more strikes to play for upside:
STAA gave back 2% yesterday after the rally to start the week. Broadwood capital came out with another filing showing they added more shares on Monday. As I mentioned yesterday, think $42+ is coming and may look to add more strikes today:
Luckily I passed on adding any GPCR with the stock closing off over 7%. Still have my eyes but will be patient:
ISRG rallied over 10% yesterday after raising guidance. Kicking myself for not at least adding some spec calls. Premiums were too high so the risk/reward made it tough. Will likely the off the watchlist for now and revisit, though it certainly looks like new all-time highs are coming soon:
And here is what I am watching today: ISRG, MASI, GPCR, STAA, AGYS, VKTX, ALT, FVRR, YOU, ISRG, ROKU, SPOT, ALT, BIIB, GILD, AMLX, RDFN, ALGN, Z, AI, TRUP, ULTA, ISRG, RBLX, TGT, FVRR, AVAV, NFLX, EXAS, AAPL SQ, LRCX, LULU, LLY, NVO, TWLO, NOW, SITE, MELI, AVGO, and WIX.
Let's have a great day!
-JB