Stock futures hit a new record overnight. The tremendous start to the year continues.
At some point the market will correct. However until this market gives us a reason to sell/buy puts, it's best to either sit on the sidelines or be long.
I entered some $MU calls yesterday for a rally off support.
I think longer term we could be looking at another classic wedge break, as we saw last year with NVDA BIDU and TREE to name a few.
Shorter term, support tests have been great buying points.
$DDD I entered some FEB calls yesterday. I think its going to breakout much in the same way it did early last year. A move to $15+ over the coming weeks/months is possible on a repeat of last years squeeze.
$X is poised to break back over $40. I entered some weekly calls for the possibility that this move comes this week.
While nothing is ever certain, I like the risk/reward for a move back to $50 over the next few months.
$AAOI - I like the squeeze potential of this stock as the market continues to move higher. I entered some calls for this possibility. The next earnings report could be a make/break for this stock. For now I am trading for upside into the end of this week.
