2/2 Recap

Tomorrow I will have a longer write up for you on Amazon and these earnings and my plans for my position. Today I’m just going to focus on a normal recap but yes, I had a great day so far, I imagine many of you did too. I have alot to say but I will do it tomorrow morning.

Today was all about how META surprised everyone with a strong guide and a dividend. The market sent it flying up over 20% right now. Amazon also posted the quarter in their history with nearly $30B of FCF and the stock is up 8.5% now as well. Apple made a huge red to green reversal and this market basically outside of Tesla, has seen nothing but strong reports from the leaders. This morning payrolls came in way stronger than expected and this economy is just so strong right now, too strong, which is everything the fed didn’t want to see when it began its tightening cycle.

The SPY is going to close green for the 13th time in 14 weeks. This has to be one of the greatest runs in the history of the market if not the greatest. We haven’t even tested the 8 week in 2 weeks, this is some serious strength. The rsi is now beyond max overbought on the weekly and we usually tend to cool down after the megacaps report. This seems like a natural spot to take any short term longs that you’re worried about off the table.

Oil put in that bearish engulfing candle monday and has completely reversed this week off a potential ceasefire in the middle east. The news from Qatar yesterday was a peace deal which then turned out to be fake, nonetheless oil has continued lower nearing levels where it always seems to find a floor.

Recent Trades

Let’s talk about the big one, Meta. They have been all over this one for so long, here is every trade I’ve logged this month on META. 2 days ago someone bought 28,000 of the 2-16 $370 calls for a little over $80m. That player made over $200m in 2 days. One of the single greatest trades I’ve ever seen. Look at all those other 400 and 405 calls I noted in the weeks before.

Going back further, last summer if you were here you remember all these 550-600 call buys on META I was highlighting. The open interest in these strikes was massive coming into today. Here we are 6 months later and these players made millions upon millions. That’s precisely why I highlight all this data. We want to know what the big players in the market are going and META was just another case study in the importance of it.

Trends

What’s interesting here is if you look, Apple was easily the name amongst the megacaps with the least interest since the start of the year and naturally it was the worst report among the big names. Short term some bullish action in VRT,ADBE,GS,and Nu that caught my eye, these names aren’t heavily traded and ADBE broke out today.

1 Week

2 Week

Year To Date

Today’s Database Link

This link will be functional all weekend long and will expire monday at the opening bell for those who want to look up things over the weekend. I will add the rest of this afternoons trades in here by the evening as always.