Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:20 NEW FOCUS LIST: SMH (ETF), NVDA, PANW, WING, RVNC
4) 12:25 Stock Review – Semiconductors: AMD, ACLS, ALGM, PI, LSCC, CRUS
5) 14:25 Stock Review – Software: MSFT, FTNT, TENB, DUOL, AYX, AI
6) 16:15 Stock Review – Biotech: VKTX, TERN, CBAY, RCUS, KRYS
7) 19:05 Stock Review – Watch List/General Ideas/Commentary: SGML, ANET, TXRH, ASO, FOUR, PODD, LNTH, ONON, INOD
8) 22:15 Conclusion/Summary

Market Summary:
My overall view on the market is that I love many stocks with tremendous growth prospects. They are coming from the sectors I’ve highlighted over the past several months: Software, Semiconductors, Retail, and Medical/Biotech. Here’s the problem. The market is not cooperating. The big institutions are not CONSISTENTLY putting money to work because of their macroeconomic concerns. They are waiting for a clearer picture on interest rates, recession fears, housing, jobs, etc. That is why I have recently discussed being patient and defensive until we get more clarity.

So what do you do when you like certain stocks but you’re concerned that the market might be in a range for a while? My conclusion is to meet halfway. My checklist includes: 1) Using strong stocks. At least if you are going to trade, increase your probabilities of success by using stocks that have the same blueprint of big winners from the past. I will continue to present many of these names in these videos. 2) Get strong entry points. Use the 21-day EMA as your guide. 3) Use smaller positions to help deal with this choppy range and the overall volatility. 4) Keep some cash on hand to help cushion potential downside. 5) Manage risk. If any names discussed in these videos have a Friday decisive close below their 10-week moving average, that would be a suggested stop. If you are a longer-term holder, then use the 200-day moving average.

I am currently 60% invested and will do my best to remain patient in my stocks as long as they act well. In this video, I discuss the importance of being patient. I can’t teach patience, I can only encourage you to adapt to the current market environment. We are in a range and NOT in a breakaway momentum market. Therefore, one way to adapt is to use smaller positions and give them room. Again, please remain positive and protect your confidence because when we least expect it, a brand new SUSTAINED uptrend will emerge. We just need to remain patient until better signs appear. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
4/12/23 Nasdaq 100 ETF (QQQ) seller of 8000 July $318/$316 strangles for $29.10 credit, expecting a range trade through Summer
4/12/23 Nasdaq 100 ETF (QQQ) also with 10,000 May 5th (W) $315 puts opening into early strength
4/12/23 Lithium ETF (LIT) with 3500 July $55/$45 put spreads bought as prices continue to crack on oversupply
4/12/23 Ford (F) buyer 10,000 September $13 calls 1.13 offer
4/12/23 Steve Madden (SHOO) unusual buyer 1250 May $35 calls $1.40
4/12/23 Enovix (ENVX) with 2000 January 2025 $17.50 calls bought $6.10 to $6.20
4/12/23 Chevron (CVX) massive ITM buyer of 825 September $145 calls for $29.15
4/12/23 Sigma Lithium (SGML) spread selling 3000 July $30 puts to buy $40/$50 call spreads, net $0.62 debit
4/12/23 Edwards Lifesciences (EW) seeing 500 January 2025 $60 deep ITM calls bought for $31.60 to $33.40
4/12/23 Aurinia Pharma (AUPH) more unusual call flow with 1000 July $14 calls bought aggressive $1.40 to $1.55 sweeps
4/12/23 Fortinet (FTNT) opening seller 500 January 60 puts at 4.70 bid
4/12/23 Alteryx (AYX) seeing 1100 May $60 calls bought at $1.32 midday
4/12/23 DataDog (DDOG) 3500 May 26th (W) $50 puts sold to open 0.84
4/12/23 Apple (AAPL) buyer 4000 November $190 calls $4.39
4/12/23 Snowflake (SNOW) vote of confidence as 1700 July $140 puts sell to open down to $14.30
4/12/23 Alibaba (BABA) buyer 1100 October $120 calls $5.90 offer
4/12/23 Micron (MU) with 2000 October 70 calls sold to open 4.55 to 4.50
4/12/23 Wingstop (WING) late day sweep buyers in January $240 calls 180X and January $270 calls 385X
4/11/23 Russell 2000 ETF (IWM) with 63,000 May $169 puts opening as the $166 adjust, a rolling hedge
4/11/23 Tesla (TSLA) with 10,000 December 2025 $100 calls opening $113.70 as June 2025 $95 adjust
4/11/23 Dominos (DPZ) with 1020 June $360 calls sold to open for 6.60
4/11/23 Netflix (NFLX) seeing 1850 May $370 calls bought at $11.03 ahead of earnings next week
4/11/23 Hess (HES) with 500 June $175/$140 bull risk reversals opening at a large net credit of $6.16
4/11/23 Hess (HES) also an opening sale of 500 June $145 puts at 9.10
4/11/23 Pfizer (PFE) with 1000 September $37.50 calls bought $5.40 to $5.50
4/11/23 Edwards Lifesciences (EW) with 1639 June $75 puts sold to open for $1.75 to buy the $85/$90 call spreads at $1.95
4/11/23 Madrigal Pharma (MDGL) with 560 January $230 short puts opening at $2.2M premium showing confidence
4/11/23 Alteryx (AYX) with 2200 May $50 calls opening ITM $5.20 to $5.40
4/11/23 Amazon (AMZN) seeing over 1000 May 12th $100 puts sell to open for $5.45 down to $5.35
4/10/23 Regional Banks ETF (KRE) sale of 1500 June 2024 $50 ITM puts for $9.41, vote of confidence near $1.5M of puts sold
4/10/23 Tesla (TSLA) seeing large lots sell to open over 4400 March 2024 $155 puts at $24.20
4/10/23 Manchester United (MANU) seeing a buyer of 2208 May $28 calls for $1.30, adjusting the April calls out
4/10/23 Axsome Therapeutics (AXSM) seeing buyers of 1000 May 26th $65 calls for $3 to $3.30
4/10/23 TG Therapeutics (TGTX) seeing 2475 August $15 puts sold at $1.80 to buy the $25 calls for $2.30, bull R/R
4/10/23 TG Therapeutics (TGTX) also with a large buyer of 2500 August $20 calls for $3.50
4/10/23 Viking Therapeutics (VKTX) with a buyer of over 2200 May $15 ITM calls at $2.81 today, continues the bullish flow recently
4/10/23 Arcus Biosciences (RCUS) buyers of 1000 May $20 calls for $1.00 as IV rises
4/10/23 Micron (MU) seeing 2500 April $66 calls bought at $0.92
4/10/23 Nvidia (NVDA) seeing 2000 April 28th $260 puts sell to open $7.00
4/10/23 Advanced Micro (AMD) buyers of 1600 April 28th $94 calls at $3.98, adjusts the April 21st $102 calls
4/10/23 Google (GOOGL) seeing opening sales of 2400 June 2024 $155 calls for $2.85
4/10/23 Meta (META) buyer of 2000 January $340 calls at $5.20, looks to be adjusting up and out from July $300 calls