January 12th, 2024 Watch List

Markets closed flat on Thursday, with the S&P closing down .07%. Asia markets finished mostly higher overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a lower open, while the Dollar, Yields, Oil, and Gold are all higher.

And here is my rant from yesterday if you missed: https://www.optionmillionaires.com/jb-afternoon-rant-january-11th-2024/

And this is what UPB is reading this morning : https://www.optionmillionaires.com/morning-reads-386/

Stocks fell and the VIX rose after the open yesterday, on hotter than expected CPI data. Just when it looked liked markets were going to take the next leg to the downside, buyers came in around 11:30am and pushed stocks back into the green before closing nearly flat. The data didn't do much for the odds of rate cuts with the market giving a 98% probability of at least one rate cut by the Fed's May meeting and an over 60% chance of two cuts by then. Will be interesting to see how that changes as earnings season kicks off. This morning banks reported, and it was mostly a mixed bag with C and JPM missing on revenues but still gapping higher this morning, while WFC and BAC are lower. There is not much new to pull from the report outside the obvious... that income from interest will be heading lower in 2024. Next week earnings season picks up, but the following week is when the fun begins with NFLX, TSLA, and others reporting. Likely some more chop here today heading into next week. Also, don't forget that markets are closed for MLK day on Monday:

It was an uneventful session for MASI on Thursday, closing down .50% despite the ITC saying the stay on the Apple Watch ban should be removed. Supposedly the court will rule today, so could be a mover intra-day:

STAA closed down 1% yesterday as it consolidates its gains from Monday and Tuesday. Still think $42.50 is coming soon:

After a strong Monday, ROKU has done nothing but fall, closing down another 3% yesterday. Feels to me like this is the shakeout before the next leg higher, but of course I am looking at the chart with a bullish bias. ROKU will need to reclaim that $92 handle soon. Will likely wait for that move before adding any more strikes:

It has been a great week for VKTX which is up over 15% so far. It closed down 3% yesterday but likely just some churn. Think that $25 spot is next:

AGYS looks interesting here after its pull from highs. May look to add some calls today:

Just a rough start to 2024 for WW with the stock off over 30% after LLY announced a new website and direct to consumer offering for their Zepbound drug. Not sure how that is not a conflict of interest of sorts but either way, not the best news for WW. Will need some sort of catalyst to pull itself out of the rut otherwise may be rangebound until earnings at the end of Feb. Still bullish the company and its prospects:

May look at some spec calls today in names like SPOT, NFLX, and TWLO.

And here is what I am watching today: AGYS, SPOT, NFLX, TWLO, ISRG, MASI, GPCR, STAA, VKTX, ALT, FVRR, YOU, ROKU, SPOT, BIIB, GILD, AMLX, RDFN, ALGN, Z, AI, TRUP, ULTA, RBLX, TGT, AVAV, EXAS, AAPL SQ, LRCX, LULU, LLY, NVO, NOW, SITE, MELI, AVGO, and WIX.

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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