***QUICK CORRECTION: The TSLA Calls I mention in the Usual Option Activity segment were bought on Tuesday 6/2, NOT Wednesday 6/3***
There continues to be little distribution in this market. Tuesday and Wednesday of this week saw accumulation days on the Nasdaq Composite and the S&P 500. The Russell 2000 also saw one on Wednesday and continues to act well. I still think we will see some pullbacks, shakeouts, and minor corrections along the way but I don’t expect them to be severe because there’s still plenty of cash on the sidelines and the global central banks continue to pump liquidity into the system. I also discuss the sector rotation in this video which helps to keep the markets propped up and makes the trend very difficult to fight. I added to some positions this week and increased my exposure from 50% to 60% invested. I still have plenty of cash on hand which I will put to use when needed. I added to Zillow for clients this week and discuss in this video how I like it as a longer term hold.
Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary/Index Review: Nasdaq Composite, comments on sector rotation
3) 4:15 Stock Review – Leaders: MSFT, TSLA, DXCM, NVDA, AYX
4) 7:55 Stock Review – General Ideas: BAND, CHWY, DDOG, FSLY, KOD, KRTX, ADVM, LVGO, NLTX, PLMR, PRVB, SDGR, KLAC, MCHP, QRVO, LSCC, SMH, DT, STAA
5) 17:15 Stock Review – Top 5 Buyable Entries: BTAI, ICAD, MSFT, Z, ADPT
6) 21:30 Unusual Option Activity
7) 23:25 Conclusion/Summary