May 5th, 2023 Watch List

Stocks closed lower for the third session in a row on Thursday, with the S&P falling .72%. Asia stocks closed mixed overnight while Europe indexes are solidly in the green this morning. U.S. future are pointing to a higher open, the Dollar, Yields, and Oil are higher while Gold is lower.

It was another rough day for stocks as market fell as concerns over Regional Bank failures(and Bank runs) weighed. You now have folks comparing today with the Savings and Loans crisis of the 80s. Love how folks like to make comparisons. Have to think the Treasury will backstop this fiasco, raise the FDIC limit, and all this will be in the rear-mirror soon. Apple reported earnings after the close the somewhat alleviated concerns of a severe slowdown. The stock is gapping higher this morning and helping push futures higher. The April Jobs report came out this morning better than expected. If that had happened a few months ago, futures would have tanked. Instead, futures have found a bid. Like magic, the SPY closed at the $405 handle. Would bode well into next week if it can reclaim that $410 handle today:

I added WIX calls yesterday. The stocks has been pummeled the last few days on no new catalysts. Not to mention W and SHOP posted some solid results. Think WIX can work its way into the mid-80s and higher before they report on the 17th of this month. Will look to close some of the calls out to cover costs on thew way up and hold the rest into earnings:

OLED tried to rally after earnings yesterday, breaking into the $139s before closing at $134.93. Still love the story here and may add more strikes if the stock finds a bid back over $139 today:

WW reported a solid Q yesterday after the close. So many shorts in the name and looks like they tried to pressure it in the after-hours before it recovered. Would not be surprised to see a squeeze today. May look to add more strikes today for the eventual move over $10:

CDLX reported earnings yesterday that beat on the EPS side but missed on the revenue side. Not a good thing when you come out and raise guidance, then weeks later miss that guidance. Still like the story here, but will likely wait before adding anything.

EDIT reported some solid updates this morning. It is trading near $9 this morning. Will be watching to add some strikes to go with my May calls. Double-digits should be coming soon:

May look at some lotto's today including GLD, SPOT, NFLX, and W.

And here is what I am watching today:, OLED, WW, RARE, GLD, SPOT, NFLX, W, SAGE, VKTX, CMG, SHW, ABBV, GLD, ALGN, SAM, EDIT, MASI, BLK, SITE, SMG, FAZ, EXAS, ULTA, and YOU.

Let's have a great day!


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, 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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