2/8 Recap

Flattish day so far, nothing to discuss really other than a few overnight movers in some recently heavily accumulated names. ARM is up 55% right now it was one of the top trending names in my database all month, here all the trades put on in January before today. There were definitely fortunes made in this one today now sitting at $119/share. The highest strike call bought was $80!

Disney too I mentioned a few times recently saying I didn’t think you could go wrong holding it sub $100, it is up 12% to $111 today. This is just another great turnaround story that was left for dead. High quality brand, this wasn’t Paypal.

There were too many recently noted ones to list that worked today. What about OSCR it was up another 28% today on earnings which were not even positive. Wynn too had earnings and is up 7% to $107 today and that was the chart I wrote up as one of my favorites in the 2024 preview, it is now up 20% since that in mid December.

The SPY did nothing today, its marginally down, it hasn’t even touched the 8 ema in 5 sessions, that is just a testament to how we have just gone up everyday for so long. It feels like the market is waiting for NVDA to report next week before deciding if we’re out of gas short term, that has been the leader the last 12 months and it’s either going to keep this rally going or mark a top in a few days.

Oil broke out today over 76 now, this is chopping up everyone who plays with it with the constant back and forth on headlines. Let’s see if it can climb over that resistance at 77 before discussing upside targets.

Yields, below, continue to look like they want to break out, they’re flagging for 4 days now and they keep pushing them higher. You would think we’d get a small cooling off in the market for at least a little bit after these past 4 months and this is starting to potentially signal it.

Trends

1 Week

2 Week

Year To Date

Today’s Unusual Options Activity

The link to the database is below, as always it expires tomorrow at the market open. I will have the rest of the days trades posted by tonight with the updated trends as well. I know alot of you use the image below, but if you use it in the database you can click on all the names and see other trades too, it is alot better in there.