Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, Russell 2000, and Dow Jones Industrial Average)
3) 15:00 Stock Review – Watch List/General Ideas/Commentary: PENN, DKNG, RYAM, HZNP, SONO, UNFI, KSS, XRT (ETF), BLDR, CCS, AMAT, MX, VOXX, INMD, ANGO, BKNG, FANG, EVER, IBKR, COWN, JEF, SF, OMI, ORGO, WCC, CAKE, EAT, PLAY, MA, V
4) 26:35 Conclusion/Summary

Market Summary:
There are two different markets going on right now. Growth is going through a correction (mostly seen in the Nasdaq Composite) but many other sectors are in strong trends, as seen by the strength in the S&P 500, Dow Jones, and Russell 2000. Usually, all the major averages are in sync, but growth investors need to be patient. What I would specifically like to see are three things: 1) A Follow Through Day in the Nasdaq Composite 2) The Nasdaq to get back above its 50-day 3) Most importantly, see quality growth stocks set up and provide safe, strong entry points. In the meantime, it’s hard to be bearish because both the Dow Jones and Russell 2000 had follow through type days today and are at (or near) all-time highs. I still think it’s worth being cautious, just in case growth sees one more leg down or we see more volatility over the near-term.

One thing many people forget about is the concept of scaling in and out of the market. It doesn’t have to be all or nothing. For example, the way I’m dealing with this bifurcated market is by staying approximately 40% invested and using ETFs to give me broad market exposure until growth stocks set up again. If you want to trade individual “opening up the economy” stocks, go ahead but make sure to stick with getting strong entry points and using the 10-week as your guide for a longer-term stop loss. If you want to buy beaten down growth stocks that you have longer-term conviction in, please remember two things: 1) You don’t have to buy all at once and 2) It will require some patience while these stocks build new bases. Overall, just be patient for the next uptrend in growth. It might show up sooner than you think. Good luck for the remainder of the week!

Unusual Option Activity
3/10/21 Celldex Therapeutics (CLDX) buyer 1000 April $30 calls here $1.25 to $1.35
3/10/21 Baidu (BIDU) with 600 April 9th (W) $277.5 calls bought $15.30 to $15.45
3/10/21 Facebook (FB) looks like 4000 May $280/$320 call spreads being bought
3/10/21 Citigroup (C) buyers of 1000 June 2022 $85 calls for $5.75 to $5.80 as the bull flow into the name continues
3/10/21 Nike (NKE) size buyers 3500 July $140 calls $9.05 to $9.15 after a big April call buy earlier this week, earnings 3-18
3/10/21 Diamondback Energy (FANG) with 1000 June $110 OTM calls bought $3.10 to open
3/10/21 Atossa Therapeutics (ATOS) with buyers of 2000 January 2023 $3.50 calls for $1.80 to $2.35 and follow recent July $5 and January $4 call buys
3/10/21 JP Morgan (JPM) IV rising this afternoon with buyers active 4500 March 26th (W) $160 calls $2.20 to $2.25
3/10/21 JP Morgan (JPM) also 5000 April 1st (W) $160 calls bought to open $2.20+
3/9/21 Snowflake (SNOW) with 1200 April $280/$180 bull risk reversals opening
3/9/21 CrowdStrike (CRWD) with over 350 October $200 calls bought offers for over $1M
3/9/21 Applied Materials (AMAT) buyer of 1000 January $110 calls for $19.25 to $19.75
3/9/21 Invitae (NVTA) with 1000 April $35 calls bought from $7.80 to $8.20
3/9/21 Citigroup (C) buyers of 5000 September $70 calls $7.35 to $7.50 with over 5K in OI
3/9/21 Nike (NKE) with 8000 April $140 calls bought $4.50 to $5
3/9/21 DraftKings (DKNG) with 3,000 March $63 calls bought for $2.96 to $2.98, spread with the April $70 calls
3/9/21 S&P 500 ETF (SPY) buyer 10,000 June $429 calls for $1.93
3/9/21 Zillow (Z) buyer 1000 May $150 calls $13.40 and also 1300 of the $175 calls for $6.65
3/8/21 Nvidia (NVDA) spreads selling 2000 May $350 puts to buy $490/$550 call spreads
3/8/21 Apple (AAPL) buyer 2000 April 1st (W) $117 calls $5.40 to $5.50
3/8/21 Western Digital (WDC) buyer 1000 April $72.5 calls $4.30
3/8/21 Jefferies (JEF) buyers of the April $35 calls for $0.65/$0.70, over 10,750X
3/8/21 Zillow (Z) with 15,000 Jan. 2023 $80/$55 bull put spreads opening
3/8/21 Plug Power (PLUG) opening sale 6500 January $25 puts $4.95
3/8/21 Disney (DIS) with buyers of 3500 May $210 calls $9.35 to $9.45
3/8/21 Builders FirstSource (BLDR) buyers this afternoon of more than 2,800 April $43/$50 call spreads for $2.90 and follows 2,900 May $40 puts sold to open last week for $2.35.
3/8/21 Square (SQ) with 1000 June 2022 $140 puts sold to open $15.40