1/24 Recap

Netflix earnings set tech on fire this morning. They really weren’t the best earnings, but who cares, they surprised on new subscribers by over 50% from 8M est to 13M. The market loved it and all the usual suspects gained billions more in market cap on the good news. Tesla reports this afternoon, their situation is different, I’m expecting a guide down on delivery production and if automotive gross margins come in lower than people are expecting it could get ugly quickly. On the other hand it is very oversold after a sharp 20% move down so a relief recovery could be in store. We will have to see what they have for us in a few hours.

The SPY, below, is now 6 days removed from that headfake below the 21 ema and I joked that day that we either were going to break down by close or go straight to the moon, it looks like we choose the moon. This is is why it’s so hard to be bearish until a trend breaks, nothing has to make sense, you just follow the trend until its over, then you follow the trend the other way but you have to have confirmation. For now we still have not closed materially broken the 21 ema since this uptrend began. We had that 1 low volume blip during the holiday season that’s it.

The dollar reversed right where it needed to for the stock bulls but it didn’t fully breakdown, it stopped at the 21. We’re still fairly indecisive here on where the dollar is headed. Today it was lower and stocks reacted higher.

Oil continues to trend up and every dip is bought for the last 6 sessions, look at all those long wicks. Oil names are seeing lots of bullish inflows as well.

Recent Trades

There are so many to list here just from yesterday’s recap. MSOS is up 6% that had a huge trade in yesterday’s recap. Who caught those ASML calls in the table yesterday? Weekly calls are always high risk/high reward which is why I try not to highlight them but someone added 2500 of those weekly calls into earnings

One of the guys in the chat mentioned he took them for a 4x gain overnight below. Again I implore you, if you’re not in the group chat, please join it, there’s 600+ people in there and I’m telling you, I don’t shed praise on many, but the group of guys in the Current Trades segment in there is as good a group of traders as you will find anywhere. You can learn so much from them. The link is in your welcome email when you signed up.

Then there was MLCO which is up 6% today after I highlighted this trade yesterday. The China trade seems to be back in full swing, but this was a nice overnight move.

There was also OSCR was up 6% today too after those calls came in yesterday for October using the 12.50/20 call spread.

Some really impressive moves happen in these underfollowed names when they show up in the trades. A name like OSCR sees no action for a year followed by 6 big trades in 12 days, you better pay attention to that.

Lastly was DKNG where its up over 4% now on a deal with Barstool Sports and coming into today they had been loading up on this thing as you can see below all of 2024.

Trends

NVDA has been the top trend all year and it hasn’t disappointed up another $28 today, this thing has been a monster and the options players have been all over it for weeks, this ranking system is working exactly as intended when names like GOOGL,ARM,BABA,FXI,WDC,MRVL are in the top trends and those have been the hottest names around. MRVL has been a monster from that first call buy I noted and they’ve just continued adding it repeatedly. Click on it in the database and look at all the adds. Are you getting a better feel for how the game works with every passing day? The biggest players are adding before the names are moving up more often than not, it even impresses me to watch this all unfold after I log the trades.

1 Week

2 Week

Year To Date

Today’s Database Link

Here is today’s link and it expires at the market open tomorrow. You’ll get a better view of today’s options and trends table below in here. There were just too many calls today I couldn’t even post a screen grab, just use the link below and look in the database I would have to use a font too small to post it on here like I always do. As usual remember I will add the rest of the days action by this afternoon/evening so check back then to get all of that