September 30th, 2022 Watch List

Stocks fell on Thursday, with the S&P losing 2.11% and giving back its gains from Wednesday. Asia markets closed mixed overnight while Europe stocks are in the green so far this morning. U.S. futures are pointing to a slightly lower open as I write this. The Dollar, Yields, and Oil are lower while Gold is higher.

And this is what UPB is reading this morning:

The FDA approved the ALS drug from AMLX yesterday. Figured the stock would trade north of $40 on the news but seems folks are taking profits. Still holding some of my October calls and may look to close the rest at the open.

Markets closed lower yesterday and has now finished in the red in 7 of the past 8 sessions. This morning we got the PCE numbers - the Fed's preferred inflation gauge - that came in a tad above expectations. Futures found some pressure after the release. The SPY held that $360 handle yesterday and will be key support again today. If that holds, may look at some lotto calls for a Friday bounce:

ICPT's reverse study data was released this morning and did not meet expectations. They still are going to go thru with their application for NASH. The stock is lower this morning but think it can reverse course. If it recoups the $15s may look at some 2023 calls:

WIX received another upgraded this morning. Think it can trade into the high $80s in the coming days and possibly mid-$90s. Will be eyeing some calls at the open:

APRN gave back some of its gains from Wednesday, closing down over 10%. Still setting up nicely and think a move over $10 comes soon. Will continue to look for opportunities to add some calls:

Also will be we watching TWLO, SPOT, GNRC, and U for possible call entries today.

Here are the analyst changes of note for today:

ntuit price target lowered to $505 from $601 at Evercore ISI
Evercore ISI analyst Kirk Materne lowered the firm's price target on Intuit to $505 from $601 and keeps an Outperform rating on the shares. While he come away from the company's "upbeat" analyst day remaining bullish on Intuit's long-term prospects in both consumer and small business, he is adjusting his target to account for multiple compression across the market. However, Materne adds that he believes Intuit still deserves to trade at a premium given its strong position in its core markets and long-term growth opportunities

Rite Aid removed from 'TAP Outperform' list at Evercore ISI, target cut to $4.50
Evercore ISI analyst Elizabeth Anderson lowered the firm's price target on Rite Aid to $4.50 from $7 and keeps an Underperform rating on the shares and is removing the stock from the firm's "TAP Outperform" list, acknowledging she had "misjudged the pacing of the improvements in the core business" ahead of the company reporting Q2 results. Her new estimates are "more conservative on this front" and she more broadly lowered estimates post the print, stating that she is concerned regarding the deteriorating core results in the Retail business

JFrog initiated with a Buy at Truist
Truist analyst Miller Jump initiated coverage of JFrog with a Buy rating and $30 price target. The company has emerged as the leader in binary management and creates a "robust value proposition" at the core of the software deployment lifecycle, the analyst tells investors in a research note. JFrog shares have fallen out of favor with investors, but its underlying business is "fundamentally intact", Jump adds, citing its compelling suite of products and expectations of upsell opportunities for years to come. The analyst further states that he is positive on JFrog's "balanced approach" to growth and profitability given current market conditions
Maxim cuts Esports Entertainment to Hold on low visibility over direction
Maxim analyst Jack Vander Aarde downgraded Esports Entertainment to Hold from Buy. Following the divestment of its Helix operations and gaming centers, the company's remaining iGaming and betting businesses are poised to be future growth drivers, the analyst tells investors in a research note, adding that its current FY22 revenue guidance of over $55M represents "robust y/y growth". Vander Aarde adds however that his downgrade reflects the low visibility into Esports Entertainment's strategic direction and the likely need for additional capital within the next six months, noting that the risk-reward on the stock is now "balanced

And here is what I am watching : GNRC, WYNN, ROKU, BIIB, SPOT, WIX, BJ, U, LVS, ICPT, CI, CMG, HUM, TRIP, SAGE, and PTCT

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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