Markets rallied on Thursday, with the S&P adding over 1% and closing higher for the 5th straight session. The S&P is now up nearly 3% on the week and at 14 month highs. Asia markets closed in the green overnight while Europe indexes are higher this morning. U.S. futures are pointing to green open, the Dollar is lower while Yields, Oil, and Gold are all higher.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-277/
It was a strong day for stocks on Thursday, with markets gapping higher at the open and never looking back. It seems all those folks who were short and calling for a crash are now forced to chase. Headlines on Markwatch are typically backward looking and this mornings there are headlines like this one: 'The bulls finally control the stock market and the signs point higher' . Not saying a pullback is coming today or next week, just helps to keep things in perspective. Today is quad-witching where equity, index, and futures options expire. Typically a little more volatile than a normal Friday. Also, don't forget, markets are closed Monday. The SPY has been riding that upper bollinger band. Would be impressive to see a close above that today with $440 being support:
I added some ISRG calls yesterday, as outlined on the watchlist. I was able to close some of the calls out for nearly 100% and over 150% to cover costs with some profit, and held the rest into today. Think a move to $335 or so is possible today:
FVRR recouped some of Wednesday's losses, closing right near $30. Think it can really get some legs if it can show some follow-thru today and break that $30.67 area. Still have some strikes expiring today so hopefully will be able to close the last out for some green:
YEXT is next... well YEXT was already next but maybe setting up for round 2. A bull-flag break puts it at $16.50+ With names like AI still going on the AI hype, only a matter of time before YEXT gets more attention:
BIDU closed up over 1% yesterday but off the highs of the session. I used the morning move to close the last of my weekly calls out for over 300% and will continue to hold my June 30th strikes for the eventual move over $160 and beyond:
Still holding my SSYS and have plenty of time on the calls. $20+ soon:
Nothing to update on TERN and VKTX. Still like them both for moves to 52 week highs in the coming weeks.
CMG is trading in an extremely tight range. Once this tug-of-war resolves, should see a $150+ upside move. May look at some spec calls today and/or strikes into next week:
SPOT has a similar setup here:
And lastly, still watching WING for any signs of strength:
And here is what I am watching today: CMG, SPOT, WING, ISRG, ROKU, BIDU, MDGL, DPZ, YEXT, SAM, AI, GLD, AMD, LRCX, MU, NFLX, GLL, TERN, QQQ, ZYME, SPOT, AXSM, SAGE, RARE, SRPT, BLK, EXAS, and W.
Let's have a great day!
-JB