Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:35 Stock Review – Mega Caps: FB, GOOGL, AMZN, AAPL, MSFT, TSLA, NFLX, PYPL
4) 10:15 Stock Review – Medical Products: SWAV, NVCR, ALGN, SPNE, STAA, INMD, PGNY, VCEL
5) 15:55 Stock Review – Semiconductors: NVDA, LRCX, ASML, CAMT
6) 17:00 Stock Review – Watch List/General Ideas/Commentary: VOL, RBLX, UPST, APEN, CELC, CELH, SGMS, STIM
7) 21:50 Conclusion/Summary

Market Summary:
I noticed three positive developments this week: 1) The selling slowed down, as the major averages were mostly flat for the week on lighter volume than the previous week. 2) Some growth stocks are acting well and showing better price action (which I discuss in this video) 3) Some sentiment indicators showed increased bearishness this week. The NAAIM Exposure Index continued to drop, and Wednesday saw the highest total put/call ratio ($CPC) since late October. From a contrarian point of view, it’s nice to see some of the excess bullishness come out of the market.

This doesn’t mean we are out of the woods yet. As I mention several times in this video, the market still needs to prove itself. Specifically, I would like to see more stocks set up, and for the Nasdaq Composite and the Russell 2000 to get back above their 50-day moving averages. For people who are shorter-term traders, this week might provide a decent opportunity because the week prior to long holiday weekends tends to be strong. Specifically, the Wednesday through Friday before Memorial Day usually sees a decent rally. If we see selling early in the week, I will likely put some cash to work in some index ETFs to play this potential trend. I will wait to see what happens and discuss it further during the next webinar, which will be Tuesday, May 25th (evening EST). I will let everyone know the exact time when I finalize my schedule.

In this video, I also discuss some of the growth stocks holding up well and some of the light positions I took this week. Again, the market still needs to prove itself. If these stocks work out well, the theory is the market is improving and I will look to get more invested. If these stocks fail, in theory you can get out with a minimal loss. Again, I will take this day-by-day and give the market time to prove itself. I still think it’s worth being patient and using lighter positions over the near-term. Thank you and enjoy the rest of your weekend!

Unusual Option Activity
5/21/21 Western Digital (WDC) opening seller 300 October $80 ITM puts $13.15
5/21/21 Zillow (Z) with 500 November $100 puts selling to open this afternoon near $11.75
5/21/21 Roblox (RBLX) buyer of 5000 June 4th (W) $95 calls into the morning highs from $1.29 to $1.40
5/21/21 Penn Gaming (PENN) opening sale 400 June 2022 $70 puts $13.75
5/21/21 Arista Network (ANET) buyer of 500 January $410 calls for $12.80
5/21/21 Horizon (HZNP) with a large spread this afternoon buying 2150 June $100 calls and selling 2,150 of the August $120 calls at net $0.30 debit
5/21/21 NVIDIA (NVDA) buyer 1000 September $680 calls $27.50 to $29.50 after the 4:1 split news and ahead of earnings next week.
5/20/21 MasterCard (MA) size buyers 1700 September $370 calls $20.75 to $22.45
5/20/21 Microsoft (MSFT) buyers active for 3350 June 2022 $260 calls today near $21.35
5/20/21 Advanced Micro (AMD) buyer 1500 March 2022 $77.50 calls $10.65
5/20/21 Facebook (FB) buyer 6500 October $270 calls for $57.24 as May $220 adjust
5/20/21 Micron (MU) July IV surging this afternoon with 8000 of the $82.50 calls bought $4.80 offer