March 1st, 2024 Watch List

Markets closed higher on Thursday, with the S&P adding .52%. Asia markets closed higher overnight while Europe indexes are mostly in the green this morning. U.S. futures are pointing to a flat open, the Dollar, Oil, and Gold are higher while Yields are lower.

And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-414/

Stocks gapped higher at the open yesterday after PCE data came in as expected, alleviating some concerns that inflation was picking up again. The S&P is pretty much flat on the week, so today will decide if it can make it a green one for the 16th time out of the past 18 weeks. Still have that $508.50 area as resistance with $504 being support if we get some selling:

Also still have my eyes on small-caps, they closed up .70% yesterday and are up nearly 2% this week:

AI rallied over 24% yesterday after better than expected earnings. I used the move to close the last of my March $40 calls for nearly 400%. Still think it can break into the $40s but it is a divisive name so thought it was best to lock the profits in. Still hold higher March strikes and may look to add some April calls on strength:

VKTX reversed morning gains to close down 18%, pulling down other names in the GLP-1 space. GPCR closed down over 6% while ALT finished down nearly 9%. Still love both for higher in the coming weeks. May actually look to add some more GPCR strikes today to play for the eventual move past $50:

EDIT gave back some of its gains from Wednesday, closing off over 9%. Still like it for higher here and will continue to hold my freebie calls:

DWAC closed off over 8% yesterday on no news to speak of. One of these days it will catch fire. Will keep on watch but likely won't add anything more just yet:

BURL closed mostly flat yesterday and seems to be back in chop mode. One of these weeks it breaks out 7-10%:

And still eyeing URI for some possible calls for the move over $700:

And this is what I am watching today: URI,  EDIT, AMLX, VKTX, Z, AXSM, WIX. DWAC, SPOT, ADBE, GPCR, MASI, SNOW, ALGN, STAA, W, YOU, ALT, TWLO, ISRG, STAA, BIIB, GILD, AMLX, 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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