Futures are pointing to a higher open to start the week, with S&P futures up .18% as I write this. Asia markets closed higher overnight while Europe indexes are in the green this morning. The Dollar and Gold are higher while Yields and Oil are lower.
Markets are looking to continue their rally from last week. The SPY is now solidly back over its 50dma and looks poised for that $420 test I have been clamoring for the past few weeks. There are still plenty of earnings and Fed Chair Powell will be testifying in front of Congress on Tuesday and Wednesday. Not sure his comments will move things much but certainly something to be aware of. Think $409 or so may provide some resistance this week, but once that breaches, think that $420 handle comes quick:
Friday was a profit taking day for me:
I closed some of my TNDM calls out for 80% and over 100% to cover costs. Think TNDM is headed north of $45 in the coming week or two:
TWLO rallied another 3% on Friday and I closed some more calls for over 300%. Will hold the rest for a possible move over $80 on the coming days:
YEXT soared over 7% on Friday and I closed some of my May calls for over 200%. YEXT will report earnings tomorrow after the close but think AI's earnings last week bodes well for a beat and raise. Will look to take more profits before the close tomorrow and hold the rest for an eventual move into the low-teens:
SSYS rallied over 3% on Friday and I used the move to lock some of my calls in for 90%. Will hold the rest for a possible rally above $15 in the coming weeks - have plenty of time with April strikes:
GNRC had a solid session on Friday. Will need some continuation this week for my March strikes to head back into the green. Once it breaks $132 it should be clear sailing to $145 or so:
VKTX keeps going and going. At some point I will add further out strikes to play for a move over $15... it is coming:
Still eyeing CMG for the eventual $150-$200 multi-day bounce:
And lastly, still have my eyes on MASI fort some calls to play for a move into the $200s:
And this is what I am watching today: MASI, CMG, ICPT, YEXT, AI, 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!