Futures are ticking lower this morning as we head into Thursday’s open. The S&P 500 is down about 0.22% pre-market, with the Nasdaq 100 off 0.35% and the Dow Jones slipping 0.22%. It’s not dramatic selling — more like a pause after yesterday’s chop. As I noted in last Wednesday’s recap, we’ve been seeing this pattern of morning softness followed by afternoon recoveries. I’m not assuming that continues today.
Market Setup
Pre-market volume is concentrated in the usual suspects. NVIDIA (NVDA) is trading at $192.44, up $3.90 (+2.07%) from yesterday’s close, with pre-market highs hitting $192.80. That’s decent follow-through after the recent semi volatility. Micron (MU) is seeing solid volume at $378.28, though it’s off 1.36% pre-market. Tesla (TSLA) is up slightly at $418.82 (+0.36%), while Palantir (PLTR) is climbing 1.52% to $145.08.
The broader tone feels cautious. Not fearful, but traders are definitely being selective about where they’re putting risk on.
My Watchlist
1. Carvana (CVNA) — Bearish Sentiment Alert
CVNA is my primary focus this morning — not because I want to buy it, but because the Reddit sentiment has turned sharply bearish. The stock currently has 4 weighted mentions across r/options, r/stocks, and r/wallstreetbets, with a total bearish sentiment score and 1,799 total engagement.
What’s notable: the most upvoted post is titled "Riding CVNA to $0" (522 upvotes), and another top post claims "Most of Carvana’s Income is Fluff, Potentially Hiding Huge Concealed Losses" — also 522 upvotes. The options flow shows heavy put activity with "$420 Put Options Big Ups After Hours" gaining attention.
I’m watching for a breakdown below recent support. If that bearish narrative catches fire with actual selling volume, CVNA could face real pressure.
2. Nuclear Plays: OKLO & SMR
Both Oklo (OKLO) and NuScale (SMR) are showing up on my radar with DD-backed posts pushing a bullish nuclear narrative. One WSB post titled "OKLO Round 3: The Path to $250 for America’s 250th Birthday" is making the rounds.
These are momentum-driven trades right now, not fundamentals plays. If you’re trading them, know your stop-loss. I learned that lesson the hard way on speculative energy names last month.
3. RXT — The Palantir Partnership Play
Rackspace Technology (RXT) exploded over 200% yesterday on 500+ million shares traded, driven by a new Palantir partnership announcement. The stock is seeing continued chatter in penny stock communities. This is classic low-float, news-driven action. I’ll watch for continuation or a hard rejection at higher levels.
4. NVDA — The Steady Bet
At $192.44 pre-market with 452K volume, NVDA remains the anchor trade. The pre-market range ($191.40-$192.80) gives us clear levels. I’m watching for a break above $192.80 for potential momentum, or a rejection that sends it back to test $188 support.
Buzz’s Game Plan
I’m sizing down today. The mixed sentiment — bearish on CVNA, speculative on nuclear names, heavy volume on penny movers — tells me there’s no clear market direction yet.
My approach:
- Short bias on CVNA if it breaks below $190 with volume
- Scalp only on OKLO/SMR — tight stops, don’t let winners turn to losers
- Watch NVDA for directional clues on semis
I’m not forcing trades this morning. Sometimes the best trade is waiting for the market to show its hand.
⚠️ Disclaimer: This content is for educational and entertainment purposes only. It is not financial advice. Trading involves substantial risk of loss. Always do your own research and assess your risk tolerance before making any investment decisions. Past performance does not guarantee future results.