1/5 Recap

The weakness continues, this shouldn’t shock you as I’ve been pointing to this all week, just remember nothing good happens below the 8 ema, it doesn’t matter what the ticker is anytime you move below it, that is your warning sign to be cautious. Again today we pushed right up into the 8 ema as you can see below and rejected it perfectly. As of now we’re looking at a second potential close below the 21 ema. Our next target is down below 455 at the 50 day. I wouldn’t not be buying any short term premium here, it’s just too risky. You want no leverage in periods like this, just focus on either selling puts lower or buying shares and selling covered calls. These periods blow over in a couple weeks, but you have to survive them. Apple has been especially weighing on us going down everyday while being 8% of the weighting in the SPY.

Tech looks worse, the QQQ rejected below the 21 ema for the 3rd straight session. Tech is not where you want to be right now in the short term, if you have longer term positions they’re fine but I wouldn’t expect much in the next couple weeks. Bank earnings start next week and for now that is the hot sector along with healthcare.

Recent Trades

Look at CYTK now jumping almost 8%, I highlighted that one just yesterday after that big risk reversal came in. It touched just below $96 now as I type this up. Impressive continuation just a day later.

Another in yesterday’s recap that I didn’t specifically highlight was ZIM, it showed up twice in the calls bought column. Those $13 calls were expiring today and ZIM just jumped almost 11% today to $15+ as of right now, unbelievable 2 trades from whoever put on these yesterday.

ANSS was another name with rumors swirling and Tuesday there was an interesting call buy 2 weeks out, it just spiked hard to $360 midday on news they are now in exclusive talks with SNPS…….

Trends

No trends today, we’re working on getting the app I posted 2 days ago in sync with all the past data. By monday I’m hoping everything will be back to normal and everything will be ready to share with you all. We have some small things to sort out between us but my hope is you will all be be able to search the database as you please soon.

Today’s Unusual Options Activity

So the color change to the background that was requested is fixed below, as for the bigger font, there really isn’t much that can’t be done its just a matter of me trying to fit this all in 1 screenshot. Again the hope is next week you can all search the app at your own leisure if the font here is too small daily. Apologies again for now.