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Lucid Doubled – Now I’m doing This


We have mostly red arrows around the world after a big start to 2023. Spain's Hot CPI is putting some pressure on Europe, and most of China is lower after their holiday week.

SPX futures are -36 after hitting a high of 4094 Friday. We'll see if the 4039 area can hold this morning with 4015 a bigger spot. The FOMC is Wednesday, with many big earnings reports in the mix — AMDXOMMETAAAPLGOOGL, and AMZN.

SPY gave us a very tradable move as it hit a high of $408.62 before fading a bit Friday. This morning we'll see how it handles $402ish. $400 is a bigger spot. If you are thinking there can be one more move higher this week, $408 or $410 lotto calls for Wednesday or Friday may be worth a look.

Now let's look at some individual names.

LCID was a great grab Friday as our eyes were on it with the TSLA strength. It doubled intraday to take some off. I also took some home. I trimmed most of my position above $14.50 pre-market. See how it holds up.

NIO hit $13.20 last week. I'm still long. If TSLA continues, this should have more room. It needs to hold $11.90.

TSLA changed January 6 and became my #1 P&L driver for 2023. Many did well with call spreads into earnings or buying it vs. $154.76 the day. It hit $180.76 Friday. We'll see how it reacts for active cash flow today. It just had a big move, so let it do some price discovery.

RBLX is tight. Some are long vs. the $34 area. Others are waiting for a high-volume move above $38ish.

AMD ignited above $65 a few weeks ago and cleared $72.60 Monday to see $77+ last week. It went red to green after INTC. Earnings are on Tuesday. See if can hold hold $73ish for now.

Scott Redler's positions disclosure as of 2023-01-30 at 7.23.09 AM

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