Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 4:00 FOCUS LIST: NVDA, MSFT, ADBE, NOW, LLY, NVO, UBER
4) 7:30 Stock Review – Software: IGV (ETF), SNPS, CDNS, PANW, CRWD, QLYS, ZS, CRM
5) 9:30 Stock Review – Semiconductors: SMH (ETF), AVGO, KLAC, LRCX, AMD
6) 11:15 Stock Review – Watch List/General Ideas/Commentary: DELL, META, NFLX, WING, LULU, PCAR, BKNG, ANET, CLS, JBL, AVAV, VRT, BBIO
7) 16:05 Conclusion/Summary

Market Summary:
In several recent videos, I reviewed my market thoughts in three steps: 1) We had incredible strength during the first half of November, as the technicals improved considerably. 2) Statistically and probability wise, we are due for a 1-3 week consolidation, either through price or through time. 3) Coming out of this consolidation, I am expecting further strength into mid-January. Right now, we are in step 2, as we have been consolidating for about two weeks. Coming into this week, I mentioned that: 1) We could just move higher from here or 2) We could continue to consolidate. So far this week, we are continuing to digest the November gains and the Nasdaq Composite is getting close to its 21-day moving average. On Monday, the Nasdaq 100 ETF (QQQ) bounced off its 21-day. Whether we consolidate a little more, have a quick shakeout, or simply move higher from here, now is a good time to look for safer entry points (assuming you are looking to get more invested). I am expecting step 3 (the market to move higher) to start over the next 1-2 weeks. In this video, I discuss many stocks that are close to their key moving averages and offering safer entry points. If you are looking to put money into any of these names, my only suggestion would be to start with lighter positions.

I remain approximately 80% invested, and I will likely put more money to work over the next week or two. How should you handle things? As always, it depends on your timeframe and investment objectives. If you are fully invested, hopefully you own some strong stocks and ETFs (and I’m assuming you are not looking to put more money to work). If you are lightly invested, now may be the time to look for safer entries (assuming you are looking to put money to work). As always, stick to strong stocks/ETFs, get strong entry points, and do you best to manage your trades based on those moving average guidelines. One quick announcement, the next Weekend Video will be a written summary (instead of a video) and will be posted on Saturday, December 9th by 8PM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
12/5/23 Real Estate ETF (IYR) buyer of 1000 March $85 calls at $4.50 spreading vs $90 calls
12/5/23 Nasdaq 100 ETF (QQQ) seeing 4400 January $406 calls sell to open at $2.71 bids in large lots
12/5/23 Nasdaq 100 ETF (QQQ) also seeing 27,000 Jan $380 puts sell to open at $5.55
12/5/23 Ark Innovation ETF (ARKK) buyer of 6000 Dec 29th $51 calls at $0.93 to $1.03 as the Dec 15th $50 calls adjust out
12/5/23 S&P Midcap ETF (MDY) opening seller of 1300 Jan $440 puts at $1.85 to $1.90
12/5/23 Celsius Holdings (CELH) buyer 1250 January 2025 $60 calls for $11.05
12/5/23 Spotify (SPOT) 400 Jan 2026 $140 puts sold to open $16.65 as some Jan 2025 $140 short puts adjust
12/5/23 Eli Lilly (LLY) buyer of 200 Jan 12th $585 calls at $20.50
12/5/23 United Health (UNH) spread sells 800 Feb $500 puts $3.70 and buys 1600 of the $610 calls $2.65
12/5/23 TransDigm Group (TDG) buyer 200 January $985 calls at $20 as Dec. $955 adjust
12/5/23 MongoDB (MDB) reporting tonight and seeing a large buyer of 430 June $460 calls at $58.50 to $61.50
12/5/23 Meta (META) buyers of 2200 Jan $335 puts at $21.15
12/5/23 Oracle (ORCL) with 1100 Dec. 29th (W) $115 puts selling to open $4.05
12/5/23 Oracle (ORCL) also sellers 1200 Feb. $105 puts to open
12/5/23 Snowflake (SNOW) 1850 June $290 max strike calls selling to open 3.55
12/5/23 Nvidia (NVDA) seeing 1300 Feb $415 puts sell to open for $10.25
12/4/23 S&P 500 ETF (SPY) with buyers in January and February $433 puts 20,000X each as hedges adjust
12/4/23 Celsius Holdings (CELH) 500 March $50 puts sold to open $4
12/4/23 PDD Holdings (PDD) 800 April 125 puts sell to open 7.30
12/4/23 PDD Holdings (PDD) also massive buyer of 2000 July $100 deep ITM calls for $50.15 to $50.55
12/4/23 Uber (UBER) seeing buyers of 3600 Jan $62.50 calls at $2.10
12/4/23 Shopify (SHOP) with 500 March $75 puts sold to open 8.10
12/4/23 DraftKings (DKNG) more opening call sales with 2200 June $37 sold to open $5.80 bids
12/4/23 DraftKings (DKNG) also 2000 Feb $38 calls selling to open
12/4/23 Schlumberger (SLB) seeing 6000 Jan 5th $48 puts sell to open at $0.49
12/4/23 Occidental (OXY) opening sale 5000 Jan. 12th (W) $54 puts $0.575
12/4/23 Eli Lilly (LLY) buyers of 1300 Dec $585 calls as the $600 calls adjust
12/4/23 Crispr Therapeutics (CRSP) midday buyers of 1000 Feb $95 calls at $4.00
12/4/23 Bridge Bio (BBIO) with 1000 January $35 calls bought $1.40 offer
12/4/23 J&J (JNJ) buyer of 1000 March $140 deep ITM calls for $21.35
12/4/23 Caterpillar (CAT) size buyer 1500 June $290 calls $7.95
12/4/23 Microsoft (MSFT) buyers of 2500 Dec 22nd $362.50 calls at $10.35
12/4/23 Microsoft (MSFT) also looks to be selling 5k of the $375 calls at $3.50 for spreads
12/4/23 Google (GOOGL) massive opening sale 25,000 March $115 puts 2.27
12/4/23 Taiwan Semi (TSM) massive buy 46,270 June $115 calls $2.26
12/4/23 Crowdstrike (CRWD) seeing 1000 Dec 29th $230/$240 call spreads bought $5.30
12/4/23 Apple (AAPL) with a massive seller of 6000 Dec 2024 $185 puts for $13.20
12/4/23 Kalviyo (KVYO) rare large option trade seeing 2000 July 2024 $25 puts sell to open $3.20 to $3.10 seeing confidence the lows since the IPO hold
12/4/23 Russell 2000 ETF (IWM) buyer 2500 January 2025 $195 calls $14.55 to open
12/4/23 Russell 2000 ETF (IWM) also large bull risk reversal bought 7500 Sept $200 calls and sold 7500 of the $180 puts, net $0.77 debit