***I MISSPOKE AT THE 1:00 MARK. I MEANT TO SAY LONGER-TERM BULLISH, NOT BEARISH***

I discussed the potential mixed signals in last weekend’s video. Specifically, how the Nasdaq Composite was holding up better than the S&P 500 and how I wanted to be patient and get a clearer picture. I was thinking either the weakness in the lagging sectors would drag the market down, or that weakness would stabilize and we would resume higher. It was nice to see the latter happen so far this week, as we had two additional accumulation days on the Nasdaq Composite (Tuesday and Wednesday). The leaders continue to act very well. I encourage everyone to do two things: 1) Stay focused on the leaders and 2) Know your timeframe (whether you are a trader or investor). My feeling is we will continue to see quick shakeouts in the market, but it’s tough to see any sustained moves down because the majority are bearish and the Fed remains on our side. I also included the link below which shows how strong quarters historically see continued strength over the next two quarters.

The bottom of this thread has some statistics on strength following a strong quarter: https://twitter.com/ukarlewitz/status/1278050706553884672

Unusual Option Activity:
7/1/20 Netflix (NFLX) just off of new highs ahead of earnings in mid-July and 1,425 August $500 calls being bought up to $21.30
7/1/20 DataDog (DDOG) with 780 January 2022 $60 puts sold to open for $11
7/1/20 DataDog (DDOG) also with 650 January 2021 $60 puts sold to open today for $4.80
6/30/20 Dynatrace (DT) with 475 August $41 calls bought today around $4.40 to $4.50
6/30/20 DataDog (DDOG) with 400 November $110 calls bought today
6/30/20 Datadog (DDOG) also with 965 January $75 puts sold to open for $10.90 to $10.80
6/30/20 Fastly (FSLY) with 1,000 September $85 calls bought up to $16.80 to open today
6/26/20 Alteryx (AYX) with 375 June 2021 $95 puts sold to open today $8.40 to $8.20
6/26/20 Akamai (AKAM) with 1250 August $120 OTM calls bought up to $1.40 this morning. AKAM also with 2,250 August $105 calls bought $6.70 to $6.80

Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review – Nasdaq Composite and S&P 500
3) 9:30 Stock Review – Mega Cap Focus List: AMZN, NFLX
4) 12:00 Stock Review – Software Focus List: COUP, AYX, OKTA, DDOG, CRWD, NOW, ZS, ZM
5) 17:00 Stock Review – Artificial Intelligence Focus List: SDGR, BTAI
6) 18:30 Stock Review – Medical Products/Others: DXCM, CHGG, TSLA
7) 20:00 Stock Review – General Commentary, New Positions, and Current Setups: CRNC, IDYA, AKAM, EPAM, TEAM, SQ, IPHI, TDOC, ARCT
8) 25:50 Conclusion/Summary