Markets closed higher on Tuesday, with the S&P adding .70% after finding buyers at 3:30. Asia markets closed mostly higher overnight while Europe indexes are in the green his morning. U.S. futures are pointing to a higher open, the Dollar is lower, while Oil, Yields, and Gold are higher.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-176/
It was an interesting session for markets on Tuesday, with the S&P fading into the 11am hour, only to find a bid and rally for the rest of the day, with most of the gains happening after 3:30. If there was any signal, it would have been the VIX, which melted lower after 11am and closing under $21 which is near a multi-month low. All eyes are now on the CPI data tomorrow morning at 8:30. A hot number and markets will be pressured... inline and maybe markets can find a bid. Anything below expectations and we likely rally. Q4 earnings season also kicks off on Friday. So many companies have already ratcheted down guidance and expectations so could be a fun one for some nice bounces. Will have the list of implied moves out this weekend. The SPY closed back over that 50dma. Maybe a churn here in the $390s before a test of the $400s into next weekL:
GNRC rallied over 4% yesterday and I was able to close some more calls for over 250%. Sure looks primed for a break over that $110 handle. May look to close the last of my calls out today and add some Feb strikes for a potential move to $120+ in the coming weeks:
VKTX rallied over 8% yesterday and looks set for that $10+ break. I went and added some Feb strikes yesterday. Think a move past $12 is coming soon:
RBLX rallied 4% yesterday and I used the move to reduce my risk in the weekly strikes and also sold some of my Jan 27ths for some profits. Will continue to hold those and may look for some later dated strikes for a move into the $40s in the coming weeks:
U closed up over 6%. Still holding some of my Jan 20th freebie calls and may actually look for some strikes to play for a move over $40. If markets hold up over the next few days, think this one can continue its mojo:
TNDM raised their guidance after the close yesterday. Hopefully the bears take note and move out the of the way. It had some trades up near $50 in the after-hours session so would think that is where it is headed today. Will look to close more of my calls out today:
ULTA is churning nice here and think it is only a matter of time before it trades north of $500 and beyond:
ISRG is presenting at the Morgan Stanley Healthcare Conference this morning. Surprised they haven't issued updated guidance. I added some spec yesterday afternoon. Think this trades north of $290 in the next few days:
Still working on my Biotech Webinar and hope to have out this weekend. So many names trading at crazy levels withhueg catalysts on the horizon.
Having an issue with upgrades/downgrades this morning.
And this is what I am watching today: GNRC, RBLX, EXAS, MASI, UDMY, NFLX, SQ. AXSM, CME, ICE, BLK, SPOT, GNRC, VKTX, UDMY, RARE, SAGE, ALGN, IBM, CMG, and ROKU.
Let's have a great day!
-JB