Markets are pointing to a mixed open this morning with S&P and Nasdaq futures slightly higher while the Dow is pointing to a rough open mostly due to Boeing. Asia markets closed mostly lower overnight while Europe indexes are flat this morning though off their lows. The Dollar and Yields are higher while Oil and Gold are lower.
And here is any rant from Friday if you missed it: https://www.optionmillionaires.com/jb-afternoon-rant-january-5th-2024/
Stocks closed lower in the first week of 2024 as Yields and Geopolitical tensions rose, and folks took some profits. Will be interesting to see how week #2 of 2024 pans out with inflation data due out Thursday and the kick-off of the Q4 earnings season Friday. There is an air-pocket of sorts on the SPY chart between the $467.50 handle and the $455 handle, would think it is very important for markets to at least find some footing this week, if not, would worry that $455 area may come in play. Friday's stronger than expected jobs report didn't do much to ease inflation concerns so this weeks CPI data is even more important:
ROKU rallied to $91 on Friday and I was able to close the last of my weekly calls out to cover the profits. It reversed course in the late afternoon to close at $89.29. I think triple-digits is coming in the next week or two and will continue to look for opportunities to add some calls:
AXGN had some great news on Friday, reporting better than expected pre-lim results. AXGN is a great story with solutions that can help folks with nerve issues. Think $10+ comes soon and may look for more strikes on strength today:
Broadwood Capital added more STAA shares last week and now holds a 22%+ stake
This morning STAA reported pre-lim Q4 numbers and 2024 guidance ahead of conferences this week. The numbers were mostly inline but looks like folks wanted more. Hopefully this is the bottom and the stock can start to reverse course. Still love this story in 2024 and the activist interest in the name can only help:
AXNX was acquired by BSX this morning... another one of my Top 5 stocks that has been acquired... this was one from 2021. Bodes well for the med-tech space. Still eyeing ISRG calls ahead of their conference on Wednesday. They will likely issue pre-lim #'s either Tuesday after the close or Wednesday morning. Think ISRG heads north of $340+:
A rough last 3 sessions for BIIB, giving back all of its first day of 2024 gains and then some. Will need this to reverse course this week and break that 200dma at $270:
UPWK was upgraded this morning, could help put a bid in FVRR. Still love it here for a move into the $30s and beyond in the coming weeks:
Some profit taking on VKTX and ALT on Friday. Both are gapping higher in the pre-market. One of these days VKTX breaks that $20 handle and never looks back and ALT breaks over that $15... hopefully that day is coming this week:
And still eyeing GPCR for some possible calls for a move to $50+:
And this is what I am watching today: GPCR, FVRR, YOU, ISRG: ROKU, AGYS, MASI, 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!