March 12th, 2024 Watch List

Markets fell for the 2nd session in a row with the S&P losing .11%. Asia stocks rallied overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a higher open, the Dollar and Yields are higher while Oil and Gold are lower.

Futures are pointing to a higher open this morning despite CPI data that came in above expectations. Maybe a sign this inflation story is finally in the rear-view mirror. Stocks traded in another tight range yesterday. Still looks like that $512.50 area on the SPY is resistance with $204 being support:

And want to see the IWM hold that $203 handle:

TERN closed off over 8% yesterday, with most of the losses come late in the day. Still love the story and think it trades into the double-digits in the coming weeks. Will look to add more strikes today:

VKTX closed down 11% yesterday. A great opportunity to grab some calls into their oral data which will be out any day now. Will be continuing to look to add calls to play for a move above $100:

ADBE reports earnings after the close Thursday. Think $630+ come again. Eyeing some calls for some premium build into the report with the hopes of being able to lock some in two cover costs:

And lastly. still watching chips/AI names for possible puts. Not bearish the sector just continue to think there will be some type of 'greed reset'. Watching LRCX, NOW, AVGO, MDB, and SNOW.

LRCX:

And here its what I am watching today:  ADBE, BURL, AI, U, VKTX, GPCR, TERN, LRCX, NOW, AVGO, SNOW, MDB, SE, ALT, EDIT, GPCR, ALT, AMD, MU, URI, Z, AXSM, WIX. DWAC, SPOT, ADBE, MASI, ALGN, STAA, W, YOU, ALT, TWLO, ISRG, STAA, BIIB, GILD, RDFN, Z, AI, TRUP, ULTA, RBLX, TGT, AVAV, EXAS, AAPL SQ, LRCX, LULU, LLY, and NVO.

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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