Topics covered:
1) 0:00 Announcements
2) 0:20 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:00 FOCUS LIST: NVDA, MSFT, ORCL, WING, RVNC
4) 11:30 Stock Review – Semiconductors: SMH (ETF), AMD, AVGO, ASML, LRCX, ACLS, MRVL
5) 13:30 Stock Review – Software: IGV (ETF), CRM, PANW, FTNT, NOW, DT, AI, DUOL, CDNS
6) 16:30 Stock Review – Biotech: XBI (ETF), AXSM, MDGL, VKTX, TERN, ETNB, BMEA, RCUS, KRYS, APLS, VRNA, PRTA, TGTX, INZY, ABOS
7) 21:20 Stock Review – Watch List/General Ideas/Commentary: CELH, SWAV, ISRG, LLY, RXST, ANET, SGML, INOD, TXRH, SDGR, ITB (ETF), BZH
8) 24:20 Conclusion/Summary

Market Summary:
In recent videos, I discussed two concepts: 1) Use the 21-day EMA as your guide and 2) Manage your trades. Regarding the first concept, strong indexes, strong ETFs, and strong stocks tend to hold their 21-day moving averages when they’re in a strong uptrend. Therefore, when things get extended from that level, don’t be surprised to see a normal pullback. Coming into this week, I wrote below last weekend’s video that “I am expecting normal pullbacks along the way and I wouldn’t be surprised to see one this week. Usually, the week prior to regular cycle options expiration pulls back into a Thursday low before a strong week of OpEx. This might be something for shorter-term and tactical traders to consider this week.” So far this week, we are seeing that pullback and I want to stress that this is normal price action along the way. That’s where the second concept comes in. If you are a trader, you can take profits when we get extended, and if you are longer-term investor, then you just have to deal with normal volatility along the way. Either way, make sure to get those strong entry points and do not chase anything that is extended.

A positive sign currently developing is the sector rotation. Many market observers have complained that the breadth is weak and not too many stocks have participated over the past few months. Over the past week, the Equal Weight S&P 500 ETF (RSP) has outperformed, and the small (IWM) and mid cap (MDY) sectors have come back to life while the Nasdaq consolidates. For me, I am a growth manager and I’m going to stick to my strategy of keeping exposure to the strongest growth stocks. DO NOT try to chase the sector rotation! You will get run over. If you want to participate in other sectors, you can always use sector ETFS, but in the long run, you are better off focused on the best stocks out there. From here, we might see some continued selling into Thursday’s European close, but I am still expecting a strong week into next week’s regular cycle options expiration. Again, use the 21-day as your guide and manage your trades. One last thing I forgot to mention in tonight’s video is that I really like the high level of put writing in many Nasdaq names this week (see below). This bodes well for a continued uptrend as the large institutions will be willing buyers on normal pullbacks.

I am currently 80% invested and doing my best to stick with the quality winners. Also, if you are going to speculate with some of the smaller cap ideas that I mention, please do it with a smaller portion of your portfolio. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
6/7/23 Regional Banks ETF (KRE) with 3000 December $40 puts sold to open 2.69
6/7/23 Energy ETF (XLE) buyers 6500 September 89 calls today 1.60 offer
6/7/23 Gold ETF (GLD) opening sale 3050 September $182 puts for $4.36
6/7/23 Tesla (TSLA) seeing opening sales of 900 June 2025 $155 puts for $23.50.
6/7/23 Tesla (TSLA) also size buyers 3500 March 2024 $375 calls this morning $11.75 to $12.10
6/7/23 Celsius Holdings (CELH) with 1000 Oct. $200 calls sold to open 3.40 to 3.20 with stock at $140
6/7/23 Netflix (NFLX) August $430 calls with buyers $20.45 to $20.95 this morning 1000X
6/7/23 First Solar (FSLR) with 1000 September $195 puts sold to open $18.50 to $18 range
6/7/23 Blackstone (BX) with 1000 January 2025 $120 calls sold to open 5.15
6/7/23 Intuitive Surgical (ISRG) opening sale 700 July $280 puts $3.35
6/7/23 ON Semi (ON) with 1000 Sept $80 ITM calls bought at $14.85, adjusting the $75 calls
6/7/23 Broadcom (AVGO) seeing 1000 July $900 calls bought $4.80 to $5.20
6/7/23 Amazon (AMZN) seeing 20k Dec 2025 $95 puts sell to open for $9.50, adjusting the $110 short puts
6/7/23 Apple (AAPL) with 4500 July 14th (W) 175/170 put spreads sold to open
6/7/23 Meta (META) with 4600 Dec. 2025 $185 short puts opening $19.40 as the $210 adjust
6/7/23 Nvidia (NVDA) opening seller 1500 August $355 puts $13.80
6/7/23 Palo Alto (PANW) with 1400 January $210 puts sold to open for $14.35, adjusting $180 short puts
6/7/23 Fortinet (FTNT) opening sales of 1500 October $70 puts at $6
6/7/23 KLA (KLAC) with buyers of 800 July $440 ITM calls at $37 to $39
6/7/23 Google (GOOG) September $120 calls adjusting to October $130 calls 3000X
6/7/23 Salesforce (CRM) opening sales of 1500 June 23rd $210 puts at $7.45 down to $7.20
6/7/23 Oracle (ORCL) with 1700 June 30th (W) 107 puts sold to open 3.90
6/7/23 Microsoft (MSFT) into weakness with large opening sales of 7000 August $310 puts for $7.20
6/6/23 Nasdaq 100 ETF (QQQ) large opening sales 3000 October $355 puts down to 14.97
6/6/23 Phillips 66 (PSX) with 700 January 2025 $125 calls sold to open for $6.00 sweep bids
6/6/23 Itron (ITRI) with 875 January $80/$55 bull risk reversals open for $2.05 debit, adjusts Dec $75 calls
6/6/23 Sigma Lithium (SGML) buyer 500 October $45 calls $3.40 offer
6/6/23 Oracle (ORCL) seeing 2500 June 30th $114 calls bought for $0.98 offers, adjusting June 16th calls
6/6/23 Oracle (ORCL) buyer of 2000 June 30th $115 calls at $1.10, continued bull flow in that expiration
6/6/23 Snowflake (SNOW) with 1200 June 30th (W) $190 calls opening up to $6.90
6/6/23 Marvell (MRVL) block 2000 July $60 puts sold for $3.40 to open
6/6/23 Marvell (MRVL) buyers also active 2450 January $70 calls $5.75
6/6/23 Google (GOOGL) large buyer of 2600 June 2025 $160/$210 call spreads for $10.50
6/6/23 Nvidia (NVDA) with 4500 Dec. 23025 $280 short puts opening 43.22 as $330 adjust
6/6/23 Nvidia (NVDA) 6000 July 14th (W) $500 calls w/ buyers 1.13 this afternoon
6/6/23 Crowdstrike (CRWD) with buyers of 1100 June 23rd $155 calls at $5.35
6/6/23 Microsoft (MSFT) with 1500 July 7th $335 calls bought $7.30 to $7.60
6/6/23 Micron (MU) with 1000 October $70 puts sold to open 7.30 to 7.25
6/5/23 Nasdaq 100 ETF (QQQ) seller to open 10,000 July $322 puts 1.62
6/5/23 Russell 2000 ETF (IWM) opening sale 10,000 Oct. 180 puts 7.68
6/5/23 S&P Equal Weight ETF (RSP) with over 5000 July $145 calls sold to open for $2.00 bids
6/5/23 Tesla (TSLA) seeing some buyers in August $250 calls bought for $11.65 to $12.30
6/5/23 Shopify (SHOP) opening sale 1200 June 2024 $55 puts for 8.85
6/5/23 Walmart (WMT) with a large opening sale of 1100 January 2025 $160 calls for $14.05
6/5/23 DraftKings (DKNG) with 1000 October $15 ITM calls bought $10.70 to open
6/5/23 EOG Resources (EOG) with 825 July $115 puts sell to open $5.80, adjusting June $117.5 short puts
6/5/23 First Solar (FSLR) with 1000 January $175 puts sold to open at $13.85
6/5/23 TG Therapeutics (TGTX) with 1400 August $22 puts sold to open 2.53 as the $15 adjust
6/5/23 ImmunoGen (IMGN) with 1000 October $16 puts sold to open for 2.65, bullish play with stock $15.20
6/5/23 Apple (AAPL) with 5000 each Oct. $210 and March 2024 $220 calls sold to open
6/5/23 Marvell Tech (MRVL) buyers 6350 June $63 calls
6/5/23 Amazon (AMZN) with 1200 November $125 puts sold $9.95 to $9.90
6/5/23 Alibaba (BABA) buyer of 1000 July 14th $87 calls for $3.47, adjusts June $90 calls
6/5/23 Broadcom (AVGO) opening sale 150 January 2025 $840 puts for $137
6/5/23 Spotify (SPOT) size bull flow with 1600 August $170 calls bought $5.70 offer
6/5/23 Google (GOOGL) sweep buyers 1000 March 2024 $145 calls $7+
6/5/23 Google (GOOGL) also with 5000 December $160 far OTM calls bought $1.72 offers
6/5/23 Google (GOOG) seeing 1070 June 2024 $125 puts sell to open, also buyers of 3300 August $135 calls looking to add to OI