Stocks closed higher on Thursday, with the S&P reversing morning weakness to close up .78%. Asia markets closed higher overnight while Europe indexes are in the green this morning. U.S. futures are pointing to a higher open, the Dollar, Yields, and Oil are lower while Gold is higher.
Stocks reversed morning losses on Thursday to rally into the green. The S&P is now up .36% on the week and back above its 50dma. All good signs here heading into the weekend. A close above $400 today would really put the move to $420 on the SPY back in motion. Crazy how many bearish folks there are on twitter...
As I have been saying for weeks, pending any black swan event, the market should find some footing:
AI reported a big beat and raise after the close yesterday. Bears will say the company continues to be overvalued on a fundamental basis. If you want value, go buy Verizon or some other DOW stock... AI is a growth name that will be much higher in the coming years. Should bode well for YEXT. Think AI trades north of $30 in the coming days and may look to add more calls today. It is also waving a nice bull flag:
TNDM reversed multi-month lows yesterday. A great name in a space that I think sees some consolidation/buyouts. I added some calls yesterday and think this trades north of $40 in the coming days and $50 and beyond in the coming weeks:
If AI is the future of tech, then 3D printing is the future of manufacturing. Always have my eye on SSYS and added some calls yesterday after their phenomenal earnings report. Think this trades north of $15 in the coming weeks:
TWLO rallied yesterday, closing up nearly 9%. I was able to close some of my calls out for over 100%. It closed back above its 200dma... a great sign. Think $80+ comes and may look for some more strikes to play for that move:
Another great session for YEXT, closing in the green for the 4th straight day. Would have really liked it to break and close above that $8.20 handle. Hopefully we get that today. They report earnings next week so would want to lock some of my calls in to cover costs before the close next Tuesday and hold the rest. AI earnings certainly points to strong demand for AI names so should be a good Q for YEXT:
Still eyeing CMG and may add some more ICPT calls on strength at the open.
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