Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:30 Stock Review – Mega Caps: AMZN, AAPL, GOOGL, FB, MSFT, ADBE, NFLX, PYPL, SQ, SHOP, TSLA, QQQ (ETF)
4) 14:30 Stock Review – Semiconductors: SMH (ETF), NVDA, AMAT, LRCX, ASML, CAMT, HIMX
5) 17:15 Stock Review – Software: CRWD, ZS, SNOW, ESTC, NET, TEAM, DDOG, DOMO
6) 19:45 Stock Review – Medical Products: ALGN, CUTR, INMD, STAA, SWAV
7) 21:25 Stock Review – Watch List/General Ideas/Commentary: ROKU, ALB, UPWK, ZBRA, CRNC, CVLT, VACQ, ASTR, RDWR
8) 26:50 Setups: BILL, PGNY, NVS, CELH
9) 29:20 Conclusion/Summary

Market Summary:
As you know, my general philosophy is the market is healthy 2-3 times per year. We are currently in one of those times. Towards the middle of June, I mentioned several times how the Nasdaq Composite was consolidating well, and that I was expecting a breakout of its 14,100-14,200 range as we started to anticipate the run into the next earnings season. So far, so good. However, I have also mentioned that when we are in these strong trends, it’s perfectly normal to pullback to the 21-day EMA along the way. When can you expect a pullback? When the Nasdaq Composite gets approximately 3-4% extended from its 21-day. At times, it can get 5-6% extended, but the more extended it gets, the more the probabilities of a pullback increase.

When I discuss a potential pullback, I’m not doing it to scare members or to make you feel like you have to do something. I’m simply doing it to prepare you for what I consider to be normal price action within a trend. If you have a longer-term timeframe, then sit tight and accept some volatility along the way. If your timeframe is shorter-term, you can lighten up into the strength in order to have cash available for the inevitable pullbacks. I can’t tell members what to do because I don’t know everyone’s timeframe, but I can encourage you to make these decisions on your own.

On Thursday of this week, we had a pullback close to the 21-day and I observed four healthy takeaways: 1) It’s nice to see that we held the 21-day 2) The volume was light, showing little distribution 3) The price action of many leaders (especially software and the Mega Caps) was very strong 4) Bearish sentiment jumped during the pullback. Overall, this pullback was normal and healthy in my view, and the uptrend is still strong.

In Wednesday’s MidWeek Video, I discussed the divergence between the Large Cap stocks and the Small and Mid Cap stocks. The key conclusion was to be patient and it was nice to see the IWM (Russell 2000 ETF) and the MDY (S&P 400 Mid Cap ETF) recover on the week to close higher in their range, and to regain their respective 50-day moving averages. From here, I am expecting the upcoming week to be strong, as the week of regular cycle options expiration tends to trend to the upside. Of course, if any position breaks down, you must have a loss cutting discipline in place. As always, stay focused on the strongest stocks out there. In this video, I review many of them. If you have any questions, you can ask them during the next webinar which will be Monday, July 12th at 7:30PM EST. Thank you and enjoy the rest of your weekend!

Unusual Option Activity
7/9/21 Snowflake (SNOW) with 3000 July 23rd (W) $300 calls being bought up to $2.65/$2.70
7/9/21 Snowflake (SNOW) also with buyers of 500 September $310 OTM calls $6.70 to $7
7/9/21 Roblox (RBLX) afternoon sales of more than 1850 January $70 puts for $7 to $6.85
7/9/21 Fiverr (FVRR) buyers of 200 January 2023 $330 calls for $40.50 to open today
7/9/21 Floor & Decor (FND) with 400 October $100 calls bought for $12.33, adjusting some July calls
7/9/21 PayPal (PYPL) with 1400 October $260 puts sold to open today $5.75
7/9/21 Coinbase (COIN) buyer of 400 March 2022 $450 calls $8.10 offer
7/9/21 MasterCard (MA) the October $370 puts sold to open today between $16.95 and $17, over 600X
7/9/21 Marvell (MRVL) with 1000 November $65 calls bought for $1.96
7/9/21 Apple (AAPL) new highs with buyers coming for 9500 October $150 calls
7/9/21 Z-Scaler (ZS) seller 300 February $200 puts to open $17.10
7/9/21 Fastly (FSLY) with 600 June 2022 $55 puts sold to open today from $13.30 to $12.55
7/8/21 Snap (SNAP) with 35,000 August $50 puts being sold to open down to $0.91
7/8/21 Snowflake (SNOW) sale to open 300 June 2022 $200 puts today $21.30/$21.20
7/8/21 DynaTrace (DT) opening sale 2000 August $55 puts $1.75
7/8/21 Apple (AAPL) buyer 5000 November $155 calls $4.25 as the August $140 adjust
7/8/21 Freeport McMoran (FCX) with 1000 September $34 calls bought into morning lows
7/8/21 Tesla (TSLA) with 2,000 January $490 ITM calls bought this morning from $186.05 to $190, sizable trade around $37M
7/8/21 DexCom (DXCM) nearly 500 December $330 puts sold to open $10.20 to $10.10
7/8/21 Square (SQ) buyer 1000 August 13th (W) $250 calls $8.25 to $8.30 into early weakness, earnings 8-5
7/8/21 Moderna (MRNA) buyers active this afternoon for 650 January 2023 $320 calls for $36.50 to $36.75
7/8/21 Alibaba (BABA) with 1,600 June 2023 $195 puts sold to open today for $38.40
7/8/21 Sea Limited (SE) buyers of 2000 August $300 calls $6.75 to $7.15 late day
7/7/21 NVIDIA (NVDA) late day buys 550 June 2023 $800 calls for over $10M