11/21 Recap

Sending this out an hour early, I explained why below and left a link open for the weekend on the database. The SPY is holding up well so far today all things considered. It is green in a tape where all the megacaps are red led by Google down 7%. With how markets are weighted you’re talking 30% of the index is red today if not more and we’re holding up, so that is impressive breadth. There is always something being bought and right now megacap tech is out, most of them except Apple and Nvidia have really broken charts with names like META approaching the 100 day as Google sits ontop of the 200 day and Microsoft is well below it. Typically as we saw in 2022, the market can’t do much without megacap tech, but for now, we are holding up. It looks like we tested the 21 ema again today on the SPY and bounced up over the 8 ema, hopefully we get a strong close and can move out of this range we’ve been in the last 5 sessions.

Recent Trades

MIR - Last week in the 11/15 recap I highlighted this one here and its up nearly 8% since. Very strong move and those calls went from 1.05 to 1.65 right now, considering they were in the money calls, that’s a nice return for less than a week as the nuclear trade has continued to be strong.

Today’s Unusual Options Flow

Here is today’s link to the database I’m going to leave it open until monday in case I can’t be here tomorrow. As you all know my dad has been in the hospital for 6 months and he’s taken a pretty bad turn these last few days and it isn’t looking good. They’re about to fire off a last ditch half dose chemo this afternoon, if it helps, we’re ok for a bit, if not, this is it. I’m heading out early now to go see him but just incase I’m not here tomorrow this link will be open until monday. If things are ok I will be here tomorrow.