Topics covered:
1) 0:00 Announcements
2) 2:00 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:20 Stock Review – Watch List/General Ideas/Commentary: WDC, MU, BRKS, KLIC, SMH (ETF), FIVN, BILL, CELH, WIX, CMBM, VOXX, FNKO, EPIX, ARQT, MEG, TWTR, ALGN, PLT, PUBM, NGMS
4) 18:30 Focused Watch List – INMD, CDMO, ORGO
5) 21:45 Conclusion/Summary

Market Summary:
Right now, the market is giving mixed signals. I could make a case for it to bounce here and I could also see it break down further. Whenever the picture is unclear, I will always default to a defensive posture until market conditions improve. The positive signs for a bounce include: The major indexes are near their 50-day moving averages, the Fed is on our side, and certain sentiment measures are showing higher levels of bearishness. The negative signs for a further breakdown include: very few quality setups, distribution days are building up, and some of the Mega Cap leaders continue to slide below their 50-days. Conclusion: Stay Defensive!

The main point of the two memos I emailed members this week was to reduce exposure. As always, do what works best for your timeframe, but at least cutting some losses and using lighter positions for any new trades will help mitigate the losses in case the market breaks down further. The good news is that once this correction is done, there will be strong opportunities. The key is to be patient until the market stabilizes and resumes a new, sustained uptrend. If you have any questions, you can ask them during the next webinar which will be Sunday, February 28th at 7PM EST. It will be a longer webinar which I will discuss a new screen I built. Thank you and enjoy the rest of your weekend.

Unusual Option Activity
2/26/21 Western Digital (WDC) size call buys this week and now 625 July $70 puts sold to open for $10.70 to $10.45
2/26/21 Twitter (TWTR) opening seller this morning 1000 May $65 puts $4.50 to $4.40
2/26/21 Micron (MU) over 1000 March 2022 $75 puts being sold to open today for $9.55
2/26/21 Micron (MU) now also with 2500 March $93 calls bought $3.90 to $4
2/26/21 Micron (MU) also with 1000 May $90 puts sold to open today for $8.20
2/26/21 Marvell Tech (MRVL) with 1500 next week $48 calls opening $2 to $2.15 for earnings 3-3
2/26/21 Marvell Tech (MRVL) the January $45 puts sold to open today 1000X for $7.50
2/26/21PayPal (PYPL) with 500 May $250 puts sold to open today for $17.70
2/26/21 ESports Entertainment (GMBL) the March $17.50 calls being bought 1500X up to $4.50 with the Citron positive comment yesterday
2/25/21 Uber (UBER) buyers of 6000 May $60/$70 call spreads
2/25/21 Taiwan Semi (TSM) with 2000 October $120 puts sold to open today near $12.50
2/25/21 Twitter (TWTR) buyer 10,000 May $85/$110 call spreads for $4.70
2/25/21 Western Digital (WDC) buyers in the March $77.50 OTM calls here 1500X for $1.17 to $1.30, follows the size July calls yesterday
2/25/21 Inmode (INMD) with 600 May $60 puts sold to open $3.50 to $3.60
2/25/21 Novocure (NVCR) the January $200 calls opening 1000X for $30.75 as the September $165 calls adjust
2/25/21 Square (SQ) with 2,000 March 12th (W) $270 calls being bought for $3 to $3.15
2/25/21 Bill.com (BILL) with 1000 April $150 puts being sold to open around $10.35, some March short puts adjusting
2/25/21 Zillow (ZG) with 2000 April $145 puts selling to open $6.80, adjusting 1000 Mar $170 short puts
2/25/21 Funko (FNKO) some unusual action with 1330 April $15 calls with buyers, earnings 3-11
2/25/21 ESports Entertianment (GMBL) seeing March $25, $30, and $35 calls active
2/25/21 Apple (AAPL) late day opening sale 3000 October $120 puts for $13.80