Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:40 Stock Review – Mega Caps: TSLA, MSFT, AAPL, AMZN
4) 11:45 Stock Review – Software: BILL, U, RBLX, DOCN
5) 14:00 Stock Review – Semiconductors: NVDA, AMD, ON, ACLS, PI, UCTT
6) 15:20 Stock Review – Watch List/General Ideas/Commentary: ALB, LTHM, LAC, ENVX, AFRM, DXCM, CDXS, GLBE, CCXI
7) 17:50 Conclusion/Summary

Market Summary:
So far this week, the Nasdaq Composite pulled back to its 21-day EMA, which is normal during uptrends. Here’s the problem: From Monday’s high to Tuesday’s low, the S&P 500’s range was only 1.9% because of sector rotation, the Nasdaq Composite’s range was almost double that at 3.76%, but many growth stocks corrected 10% or more. As I discussed in Monday’s Note to Members, if you got hit early this week, don’t beat yourself up. We need to learn from our mistakes and constantly make improvements. In this video, I discuss three possible ways to help minimize them in the future: 1) Use a blend of ETFs and stocks to help reduce volatility 2) Use lighter positions, especially with higher beta growth stocks 3) Take profits into strength next time something gets extended.

From here, I’m going to lean a little defensive and make sure the major indexes hold their key moving averages. I’m also going to wait for the volatility to calm down and for stocks to provide safer entry points. I’m certainly not complacent, but I’m not going to get overly bearish because we haven’t seen a cluster of distribution days on any of the major indexes yet. I will continue to focus on the leaders, especially the ones that showed great relative strength over the past two days (I review them in this video). One last reminder, you have to stick to a loss cutting discipline when any position turns against you. I know it’s not fun, but it’s part of the process. I want to wish all the members and their families a Happy and Healthy Thanksgiving. There’s a lot to be thankful for, so please remember to stay focused on gratitude. See you Saturday with the next video. Thank you and enjoy your holiday weekend!

Unusual Option Activity
11/23/21 Bill.com (BILL) seeing 1000 Feb $290 calls bought for $38 to $38.25, spread with the $340 calls which may be adjusting back
11/23/21 Nasdaq 100 ETF (QQQ) large opening sale 3000 September 2022 $400 puts for $36.10 into morning lows
11/23/21 Roblox (RBLX) seeing 2000 Nov. 26th (W) / Dec. 3rd (W) $122 calendar call spreads open early for $3.10
11/23/21 Roblox (RBLX) with over 1,900 December $123 calls bought this morning between $9.00 and $9.60
11/23/21 Roblox (RBLX) with 2,000 Dec 10th (W) $110 calls bought for $11.39 and spread with the $120 calls sold for $6.79
11/23/21 Semiconductor ETF (SMH) with 1900 May $325 calls opening today $17 to $17.10
11/23/21 Affirm Holdings (AFRM) with 600 February $130 calls bought for $20 to $21.80 after the recent size call spread buys in the name
11/23/21 Nvidia (NVDA) 2000 Dec. $317.5 calls opening, and also 1000 Dec. $322.50 calls opening $1.6M as the $320 adjust.
11/23/21 Crowd-Strike (CRWD) opening sales of 300 September $220 puts down to $29.50 today
11/23/21 Snowflake (SNOW) size buyers come for 3000 Dec. 3rd (W) $345 calls $14.90 to $16 into 12-1 earnings
11/22/21 S&P 500 ETF (SPY) opening sale 2400 February $451 puts $8.95.
11/22/21 Apple (AAPL) buyer 3000 Dec. $157.50 calls for $7.59 as the Nov. 26th (W) adjust
11/22/21 AAPL also with 3,700 December 31st (W) $162.50 calls bought this morning for $5.55 to $5.70
11/22/21 Apple (AAPL) with over 7,850 January 2023 $160 puts sold to open this afternoon for $18.25
11/22/21 Affirm Holdings (AFRM) with 1000 February $120 puts sold to open into weakness $17.60
11/22/21 Affirm Holdings (AFRM) also with 6000 February $135 calls bought $17.80 as Dec. $150 close out
11/22/21 Affirm Holdings (AFRM) opening sale 300 Dec. 2022 $115 puts for $30.60
11/22/21 Microchip Tech (MCHP) buyers early for 2250 January $82.50 calls $5.10 to $5.40 offers
11/22/21 Bill.com (BILL) with 800 May $330 calls bought to open this afternoon for $47.80 to $48.80, more than $3.9M
11/22/21 Bill.com (BILL) also with 250 May $340 calls bought for $46
11/22/21 ChemoCentryx (CCXI) seeing 1000 December $45 calls bought for $1.75 today
11/22/21 Albemarle (ALB) late sellers of 1700 January 2024 $190 puts for $23.20
11/22/21 Taiwan Semi (TSM) buyers of 2000 December 3rd (W) $125 calls for $3.65 into strength
11/22/21 Taiwan Semi (TSM) also with 2000 December $128 calls bought between $4 and $4.10
11/22/21 Taiwan Semi (TSM) also seeing 1500 February $120 puts sell to open today $4.95
11/19/21 Apple (AAPL) over 7,500 March $160 puts sold to open for $9.90