March 1st, 2023 Watch List

Markets closed lower on Tuesday, with the S&P falling .30%. Asia markets soared overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a bounce, the Dollar and Oil are lower while Yields and Gold are higher.

And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-208/

Stocks tried to find some footing yesterday, rallying into the afternoon before finding sellers at the 2pm hour. The SPY reversed gains to close in the red and under its 50dma. Will be a key session today to see if markets can find buyers and start to head back near that $400 handle on the SPY. The longer we stay under the 50dma, the better the odds that more downside is coming - though I still think $420 is coming first:

YOU reported a monster quarter this morning and the stock is gapping up nearly 10%:

Such a great story. May look for some later strikes and try and lock some of my March calls in after the open. Think $40+ is coming:

TWLO rallied yesterday after filings showed the CEO added $10 million+ in shares:

Think this trades into the $80s in the coming week or two and may look to add more calls today:

I also added some more YEXT calls. The stock was finally showing some strength and they report earnings next week:

Think $10+ soon.

OLED couldn't find any buyers yesterday, closing slightly in the red. Still think $140 is coming here this week:

ICPT will report earnings tomorrow morning. Any positive updates and the stock should trade into the mid-high $20s. The NASH craze is back in my humble opinion:

As I mentioned yesterday, likely to be less aggressive these next few days until I can scale out of some of my positions.

And this is what I am watching today: CMG, ICPT, YEXT, AI, MASI, ULTA,, YOU, DKNG, EXAS, U, SMG, TWLO, TRIP, RBLX, SPOT, NFLX, AYX. CMG, ROKU, GILD, CDLX, SAM, IBM, SQ, ZYME, ICPT, ALGN, and GNRC.

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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