September 12th, 2022 Watch List

Stocks rallied on Friday, with the S&P adding 1.53% and finishing up the holiday shortened trading week up 3.65%, putting an end to a 3 week losing streak. Asia markets closed higher overnight while Europe indexes are rallying this morning. U.S. futures are pointing to a higher open, the Dollar and Yields are lower while Oil and Gold are higher.

And this is what UPB is reading this morning:

Here is my rant from Friday if you missed it: h

ttps://www.optionmillionaires.com/jbs-morning-rant-september-22nd-2022/

And here is a chart scan from UPB, a great tool to find some names that are ready to break-out or break-down:

Stocks rallied on Friday, as a weaker dollar seems now to be a catalyst. Gas prices also continue to fall. This week we get inflation data and near the end of earnings season, with a few names left to report like ADBE and IRNT. CPI data is due to tomorrow morning and could certainly move markets. Expectations are for an 8.7% read... a lower read and stocks likely find a bid. If the number comes in higher, things may get dicey again. That $400 handle continues to be key support while that $410 spot could provide resistance on upside:

I finally added some EVH calls on Friday. The stock is setting up for a large move into the mid-$40s. Will look to take some off to cover costs and ride the rest when I get the chance:

It was another solid day for PETQ. Still think this trades up near $15 in the coming weeks:

APRN squeezed into the $8s on Friday only to give it back and then some, closing down nearly 10%. Think this will continue to be a volatile trade but will be over $10 soon:

Bio's seem to be back in focus, especially with AMLX's positive AdCom. PTCT is name I have traded in the past and is a great story. They are working on solutions to treat rare diseases and disorders like Duchenne muscular dystrophy. The stock has a tight Bollinger band setup here and a positive analyst note this morning. May look for some calls to play for a move over $60 in the coming weeks:

NKLA should be stealing some headlines today as their Founder goes on Trial. Still mond-boggling to me that NKLA is a $2+ bil company that was created 100% on lies(well maybe 99%):

https://www.wsj.com/articles/nikola-founder-faces-securities-fraud-trial-over-promises-about-electric-trucks-11662894001?mod=pls_whats_news_us_business_f

WING and CMG are also on watch today:

WING:

And still looking at ZS, TWLO, SPOT, and ROKU.

Here are the analyst changes of note for today:

Jefferies starts PTC Therapeutics at Buy on marketed products, pipeline upside
As previously reported, Jefferies analyst Kelly Shi initiated coverage of PTC Therapeutics with a Buy rating and $62 price target. From its six commercial products, Shi highlights the "market leader potential" of Evrysdi in SMA, a DMD franchise comprised of Emflaza and Translarna, and Upstaza's "dominant position in AADC." Shi also argues that clinical candidates PTC-518 and PTC-923 offer "significant" near-term upside potential

Zillow Group price target lowered to $53 from $78 at DA Davidson
DA Davidson analyst Tom White lowered the firm's price target on Zillow Group to $53 from $78 and keeps a Buy rating on the shares. The analyst is updating his estimates to reflect the broader headwinds in the U.S. housing market, cutting his FY22 adjusted EBITDA view to $560M from $800.5M and his FY23 view to $597.1M from $975.5M
Trivago price target lowered to $1.70 from $3.00 at DA Davidson
DA Davidson analyst Tom White lowered the firm's price target on Trivago to $1.70 from $3.00 and keeps a Neutral rating on the shares The analyst is updating his model to reflect the recent momentum of the recovery in global travel demand, which he also sees as being offset by the potential for broader macro and inflation-related slowdowns in travel spending entering next year


Early iPhone pre-order data positive for Apple, says BofA
BofA analyst Wamsi Mohan says his tracking of iPhone ship dates on Apple's own website and various carrier websites indicates that as of September 12, ship dates for the iPhone 14 Pro and Pro Max models are extended compared to last year at this point in the pre-order cycle. Ship dates globally for the iPhone 14 Pro is currently at 30 days compared to 26 days for iPhone 13 Pro, while iPhone 14 Pro Max stands at 39 days versus 27 days last year, Mohan tells investors in a research note. The extended lead times are "especially impressive" given that Apple has increased iPhone prices in some regions to offset the currency impact from stronger U.S. dollar, says the analyst. He views the early pre-order data as positive for Apple and keeps a Buy rating on the shares with a $185 price target.
Trivago price target lowered to $1.70 from $3.00 at DA Davidson
DA Davidson analyst Tom White lowered the firm's price target on Trivago to $1.70 from $3.00 and keeps a Neutral rating on the shares The analyst is updating his model to reflect the recent momentum of the recovery in global travel demand, which he also sees as being offset by the potential for broader macro and inflation-related slowdowns in travel spending entering next year

And here is what I am watching today: CMG, WING, PTCT, SAGE, APRN, ZS, TWLO, SPOT, and ROKU.

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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