7/12 Recap

We’re wrapping up another green week in markets, we dodged the potential landmines this week with CPI and PPI but it does indeed look like we’re getting a small rotation out of megacaps into the small caps. Nearly every junk small cap was flying today, take your pick and they were up 8-10% or more. Meanwhile in the $1T+ club Amazon,Microsoft,Google, and Meta were red while Apple and Nvidia were green. The focus is shifting to this rate cut as we discussed yesterday and this rotation will be short lived in my book, a few weeks at best.

The IWM below had another gap up but faded nearly the whole move. Look at these gaps the last 2 days. If you want to play here I’d be a seller of puts at 202.5 and into that gap fill. You don’t want to chase these gap ups, it usually ends badly.

Recent Trades

CRH - I highlighted this one 10 days ago on 7/2 here . It was a really beaten up name heading for major support. It has now gone up from 71.60 to over 81 today. This was a great move in a short period. If you took commons here, you can sell those and sell puts to get back in lower if you so choose.

Trends

1 Week

2 Week

1 Month

Today’s Unusual Options Activity

Here is today’s link to the database, it will be up until monday morning when the market opens. I will have the rest of today’s trades added by tonight.