Markets closed lower to start the week, with the S&P losing .20% in a lackluster session. Asia stocked closed mixed overnight while Europe indexes are in the red this morning. U.S. futures are pointing to a lower open, the Dollar, Yields, and Gold are higher while Oil is lower.
It was a somewhat boring session on Monday, with stocks trading higher at the open, only to chop around for the rest of the day to close in the red. There is not much in the way of catalysts so folks were taking some profits after last weeks rally. Maybe another day or two of consolidation before the next leg past $430 on the SPY. Would want to see that $425 handle hold today:
For the first time in a while, I did not make any trades yesterday.
ROKU had a decent session yesterday, holding the 50 & 200dma for the second straight day. Think it is only a matter of time before it embarks on a multi-day 15%+ rally:
NNOX tested $22.69 before giving back all its gains and then some. Still like this bull-flag setup. Not sure I will add anything more unless it breaks $25+:
AI started to recoup some of its post-earnings losses. Would not be surprised to see this trade north of $40 this week. May look to re-enter some spec calls:
VKTX and TERN had another great session, closing up 3% and 5% respectively. Some continuation today bodes well for all-time highs on VKTX soon.
I have been eyeing WING for the past week or so and it finally had a break-out day. Premiums are tough. Will be watching again today for a possible entry into some calls to play for a move to $230+ in the coming weeks:
FVRR is one of my favorite plays these days. Think the sell-off from earnings offers an opportunity and the company is benefiting from this shift to #AI... bears would says that shift will cause FVRR to lose business but I don't think that is the case at all. Can listen to a clip on their CC here:
YEXT reports earnings after the close. I likely will just hold my spec August calls unless I can get some out for 100% to cover costs. Think they will post a strong Q but the company has a history of disappointments so there is a risk of a miss and my calls going bidless:
Lastly, still like SAM here and may look at some later dated calls for a move past $360 in the coming weeks:
And this is what I am watching today: AI, WING, DPZ, MDGL, BIDU, SAM, OLED, GLD, AMD, LRCX, MU, NFLX, GLL, TERN, QQQ, ZYME, SPOT, AXSM, SAGE, RARE, SRPT, BLK, EXAS, W, SHW, ABBV, and ALGN.
Let's have a great day!