Topics covered:
1) 0:00 Announcements
2) 0:40 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:25 Mega Caps: GOOGL, FB, AMZN, AAPL, MSFT, TSLA, NFLX, PYPL, QQQ (ETF)
4) 11:10 Stock Review – Semiconductors: SMH (ETF), AMAT, LRCX, ASML, ICHR, CAMT, NVDA
5) 14:00 Stock Review – Medical Products: ALGN, SWAV, STAA, INMD, VCEL, CUTR
6) 18:10 Stock Review – Energy: XLE (ETF), OIH (ETF), XOP (ETF), CPE, FANG, SM, BCEI, EOG, DVN
7) 20:00 Stock Review – Watch List/General Ideas/Commentary: CELH, CELC, HYRE, ZDGE, CVLT, NVS, APEN, LTHM, VOR, CROX, UUUU, TSE, ABCB, PPBI, SIVB
8) 28:30 Setups: UCTT, ALB, PGNY
9) 31:20 Conclusion/Summary

Market Summary:
Two weeks ago, I discussed three positive developments I was noticing in the market. Since then, market conditions slowly continue to improve. Specifically, it was nice to see the Nasdaq Composite hold its 50-day moving average this week, the S&P 500 hold its 21-day, and the Russell 2000 hold above its 50-day. Also, the Nasdaq Composite has some tight weekly closes within its new base, showing institutional accumulation.

I still think we will be in a range for the next few weeks. I am leaning bullish, but we still have to get through Thursday’s CPI (inflation) report (June 10), the next Fed meeting (June 15-16), end of the quarter portfolio positioning, and the annual Russell 2000 rebalancing (June 25). In other words, I am expecting volatility around all these events. Your strategy should depend on your timeframe and risk tolerance. If you have a longer-term time horizon and you are ok with some potential volatility, one option is to get strong entry points (as you hopefully did in some stocks recently), and stick with your positions using the 10-week as your guide. Another option is to keep some cash available to reduce volatility and to also enter some positions if they pull back to logical support levels (21-day or 50-day). Of course, the market can accelerate to the upside and fool many people, but I just don’t see that happening with all these events coming up. As always, I will take this day-by-day and update you with my strongest analysis, but so far, so good. The market and many stocks continue to act well, and I think we eventually resolve this recent range with an upside breakout.

Enjoy the rest of your weekend, and see you at the next webinar which will be Tuesday, June 8th sat 7:30PM EST. Thank you!

Unusual Option Activity
6/4/21 Nvidia (NVDA) with 1300 June 25th (W) $760 far OTM calls bought $6.70 to $7.50
6/4/21 Align Tech (ALGN) with buyers in the August $600 calls, size buyers of 1500 from $34.75 to $39
6/4/21 Apple (AAPL) afternoon buyers of 1200 December $150 calls for $2.45 to $2.58
6/4/21 Albemarle (ALB) 1000 July $195/$210 call spreads being bought to open for $1.23
6/4/21 Devon Energy (DVN) with 1000 July $33 ITM puts sold to open for $3.70 today as bull flow in the energy space continues
6/4/21 Bank of America (BAC) with 5,000 January $45 puts sold to open this morning for $4.85
6/4/21 Upstart (UPST) with 1000 June $185 calls bought $20.50 against sale of $125 puts at $6.50
6/4/21 Visa (V) buyers of 6,000 December $240 calls up to $10.70
6/4/21 PayPal (PYPL) today with 370 March 2022 $260 calls bought up to $31.70
6/4/21 Intellia Therapeutics (NTLA) strong Biotech name with 1000 June $70 puts selling to open $3.40 to $2.80
6/4/21 US Steel (X) with 1,250 June 25th (W) $23.50 calls bought $3.60
6/4/21 Jumia (JMIA) more bull flow with 2000 June $33 calls bought up to $2.05
6/4/21 Alibaba (BABA) seller of 1000 January 2023 $150 puts $11.55 bid
6/4/21 Texas Instruments (TXN) with 1,000 June 2022 $175 puts sold to open for $15.15 today
6/4/21 Roblox (RBLX) buyer of 4,000 June 25th (W) $120 calls for $2.40, continues to see strong call buying almost every session
6/3/21 S&P 500 ETF (SPY) buyer of 1500 March 2022 $435 calls today for $2.5M
6/3/21 Micron (MU) with 1,500 October $77.50 calls bought for $10.70 to $10.75
6/3/21 Apple (AAPL) 15,000 June 25th (W) $130 calls bought up to $0.75
6/3/21 Signet Jewelers (SIG) the June $62.5/$70 call spread bought 1000X2000 for $0.80 debit ahead of 6-10 earnings,
6/3/21 Snowflake (SNOW) 280 Sep $250 calls bought $24
6/3/21 Texas Instruments (TXN) with 1500 June 2022 $150 puts sold to open $7.85
6/3/21 MasterCard (MA) buyer 3500 August $365 calls $17.10 as June $380 adjust
6/3/21 Square (SQ) with 1000 July 2nd (W) $210 ITM calls bought $14 to $14.25