January 9th, 2024 Watch List

Markets rallied on Monday, with the S&P adding 1.41%. Asia stocks closed mostly higher overnight while Europe indexes are in the red this morning. U.S. futures are pointing to a lower open while Oil, Yields, Gold, and the US dollar are all higher.

Stocks finally found some buyers in 2024, with the S&P gapping up on Monday and grinding higher all day to close at session highs. There was no big catalyst to speak of outside of Yields falling. With yesterdays rally, the S&P is now down only .14% year-to-date. Overnight, Samsung offered preliminary earnings that missed expectations, putting pressure on some of the Tech names. All eyes will now be on the CPI data Thursday. That $475 handle looks like it will be resistance for now, with that $467.50 area as strong support:

STAA reversed morning red to rally solidly into the green yesterday after offering up preliminary numbers and guidance above expectations. I went and added some more calls in the morning. Think STAA will trade north of $35 in the coming days. Will look to close some of my calls out to cover costs and ride the rest:

It was a strong day for ROKU, closing up over 5%, with the CES in full swing. I used the move to lock some of my 2k challenge calls in for over 100% to cover costs once the stock stalled at $94. Still think it trades north of $100 in the coming days so will hold the rest with a possible stop at $90 or so. A good sign it is back over that 50dma:

It was a also strong session for names like RDFN, FVRR, TRUP, TRIP, SMG, and YOU. Hopefully some follow-thru today:

BIIB reversed morning lows to close flat. Still think $270+ is coming soon:

Monday was also a another good day for the GLP-1 names like VKTX, ALT, WW, and GPCR:

Still eyeing some possible calls on GPCR today for that move to $50+:

AGYS, one of my top 5 stocks for 2024, finally looks ready for a bounce. May nibble some calls today:

AXGN rallied into the $9s before pulling back to close nearly flat. At some point will look to lock my Jan strikes in and may add some Feb calls:

And lastly, ISRG will announce pre-lim #'s either after the close today or before the open tomorrow. May look look at some spec calls today for a move north of $340:

And here is what I am watching today: AGYS, GPCR, FVRR, YOU, ISRG, ROKU, 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!

-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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