1/19 Recap

Breadth remains quite poor, a handful of names are carrying this market. SMCI traded up 32% this morning dragging semis even higher. NVDA is up another $18 to new highs. This is one of the most fascinating moves I’ve ever seen in a real company. You see stuff like this in junk names all the time, but for a $1.5T dollar company like NVDA the last 2 weeks on no material news, earnings, etc this has been an amazing move. If you remember the first week of the year, that Friday before CES, I noted all the AMD and NVDA calls and names like AMD are up 20% since. That’s really the purpose of all this, it isn’t so much to nail the exact same trades these funds are buying but to be in the right names going in the right direction. Even had you bought AMD commons when I highlighted them in the 1/5 recap below, you could have made alot of money. The direction is the most important thing, there are countless ways to play it, but getting an edge by watching option flow helps in being right on direction which is the most important thing in trading.

The SPY continues to trend higher after that small fake out below the 21 ema 2 sessions back. Nothing bearish here for now. The first big week of earnings starts next week, today is OPEX so I expect some weird moves into the close. We will have to see where the candle closes today tomorrow morning before more can be said.

Recent Trades

I posted this AMD trade this morning on twitter, I didn’t log it because it was nearly going to expire by the time the recap went out. You can see the trade was placed at 10:38 EST and AMD was 165.94 when this player sold 4000 puts expiring today at 170. The reason you know they weren’t closing out long puts is because you can look at the OI of 1758 and 4000 were traded in one swoop, anyways, AMD is up to 168.80 right now, $3 higher and that trade made alot of money. I don’t know if they will wait for a close over 170, but they could close now for a massive gain. Stuff like this is what the live chat is for, the recaps catch the majority of trades, but I can’t control how far a name moves in the few hours before you get the recap mid day.

MPW hit new lows today, if you’ve been keeping up with the trends table for the past year, it is the second most bearish name in my database. It has been a disaster and keeps trending lower.

Trends

1 Week

Year To Date

Today’s Database Link

Here is today’s link, it expires Monday at the opening bell that way you can dig through here and get whatever you want over the weekend as you research the week ahead.