Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:05 Stock Review – Semiconductors: SMH (ETF), MU, AMAT, LRCX, ICHR, ON, KLIC, LSCC, CAMT, COHU
4) 13:25 Stock Review – Medical Products: VCEL, SWAV, NARI, ORGO, INMD, EDAP, ALGN, APEN
5) 17:05 Stock Review – Watch List/General Ideas/Commentary: COWN, EVR, IBKR, NUE, STLD, SLX (ETF), DDS, HYRE, APPS, KOPN
6) 22:30 Setups: SMH (ETF)
7) 23:40 Conclusion/Summary

Market Summary:
As I mentioned in the beginning of April, we could see technology start to participate in anticipation of the upcoming earnings season. Since then, the Nasdaq Composite has grinded higher, but it hasn’t been smooth sailing for individual stocks, especially small cap growth stocks. Please keep in mind that if you own a concentrated group of growth stocks, you will not always correlate to the major averages. Sometimes the indexes will grind higher and you will underperform, and other times the indexes will correct while growth stocks beat to their own drum. Again, part of navigating through the market involves the word acceptance. We have to take the good with the bad.

If you are struggling in this environment, please remember to be patient and keep your head up. If you look at the flagship ARK Innovation ETF (Symbol: ARKK), it is still 22% off its highs from earlier this year. Also, the Russell 2000 Growth ETF (Symbol: IWO) is still consolidating below its 50-day moving average. As I’ve mentioned several times, one way to deal with this type of market environment is to have a blend of Index ETFs and individual stocks. As always, I encourage members to make these decisions based on their own timeframe and investment objectives.

Looking ahead at the upcoming week, please keep in mind the Nasdaq Composite and S&P 500 are still extended from their respective 21-day moving averages. That doesn’t mean they have to drop, but we could see some volatility if the indexes correct sideways or have a quick shakeout down to that level. I am doing my best to stay focused on the strongest stocks and growth sectors right now. I specifically go over some Semiconductor and Medical Products stocks in this video. Other cyclical sectors that continue to perform well include Housing, Financials, and Steel. Again, stay patient and keep your head up. Remember that protecting your confidence is an essential part to being a successful trader. Thank you and enjoy the rest of your weekend!

Unusual Option Activity
4/16/21 Square (SQ) with 400 May 28th (W) $255 calls bought for $19.50 to $19.75 today ahead of early May earnings.
4/16/21 Square (SQ) also 1000 May 28th (W) $260 calls bought $17 to $17.50
4/16/21 Nasdaq 100 ETF (QQQ) large ITM buyer this afternoon of 7750 January 2023 $315 calls for $56.25, $43M.
4/16/21 S&P 500 ETF (SPY) buyer earlier 52,500 May $422 calls for $4.14, closes 35,000 April $410 calls $6.70
4/16/21 Apple (AAPL) with 1000 September 2022 $135 puts sold to open $20.90 this afternoon
4/16/21 Horizon Pharma (HZNP) opening sale 1500 May $90 puts $4.25 this afternoon
4/16/21 Micron (MU) early bull flow buying 2600 June $97.50 OTM calls $2.86 to $2.94
4/16/21 Microsoft (MSFT) with 2250 January 2023 $370 calls bought $7.30 to $7.37
4/16/21 Perion Network (PERI) seeing 2300 July $12.5/$22.5 call spreads open as April calls adjust
4/15/21 Uber (UBER) with 3500 May 7th (W) $70 calls bought for $0.57 to 0.65 ahead of 5-5 earnings
4/15/21 Uber (UBER) 5000 next week $63 calls trading as well
4/15/21 Ebay (EBAY) 2000 next week $65 calls bought
4/15/21 S&P 500 ETF (SPY) with 35,000 May $420 calls being bought this morning as April $409 calls adjust
4/15/21 Visa (V) with 1200 July $245 calls bought $3.67 as June $230 adjust
4/15/21 MasterCard (MA) buyer of 250 October $375 calls for $34.40 to open today
4/15/21 Builder’s First (BLDR) buyers of the August $50 calls 1300X for $4.10 to $4.30
4/15/21 Taiwan Semi (TSM) seeing 1,500 January 2023 $105 puts sold to open this morning for $14.30
4/15/21 Facebook (FB) buyer today of 1500 July $310 calls $19.40/$19.45