I’ve been sick the past two days and my voice is struggling. Rather than subject you to it in a video, I decided to do a write up this week with the important bullet points. Thank you for your understanding.

1) As I mentioned last week, I wouldn’t be surprised to see a consolidation either through price or through time over the next 1-3 weeks. That is exactly what we are seeing right now. A normal digestion of the gains off the late March low. Don’t overthink it. Don’t overcomplicate it. A visit to the 21-day EMA for the Nasdaq Composite would be perfectly normal price action.

2) Here’s the problem: Growth stocks always see more volatility than the general market. For example, I always say when the S&P 500 corrects 5%, the Nasdaq Composite corrects 10%, and growth stocks correct 20-50%. Over the past week, we only saw a 2% decline for the S&P 500 and many growth stocks dropped 10-20%. Why does this happen? A) Because growth stocks are volatile. B) Because some of these stocks have made such significant moves to the upside that a 20% drop is actually reasonable. Don’t get me wrong, it’s not fun, but when a stock such as Bloom Energy (Symbol: BE) goes from $310 last Thursday down to $242 in 3 days, it’s actually not that crazy because it was just $130 in early April.

3) This is one of the biggest challenges I constantly discuss in my videos. Trading a basket of high beta growth stocks is not easy. You either pass if it’s too volatile for you, use lighter positions, or simply deal with the volatility depending on your risk tolerance. The way I’ve been dealing with it over the past few days is with lighter positions. As I mentioned last week, I reduced my exposure after a strong run and to also try to mitigate some of the volatility for clients.

4) In my view, this is a near-term consolidation within the current overall power trend. I am not expecting a major drop from here. I could see this continuing into mid-June. After that, we could see a “sell the news” situation after the SpaceX IPO. Also, the last two weeks of June tend to be volatile with all the index rebalancing. Again, I’m not going to think too far ahead and simply take this day-by-day.

5) Nvidia’s earnings were strong and their guidance was solid. Once again, financial television and social media loves to hype up their earnings and it seems like it’s been a non-event for several quarters now. As I always say, I’m never complacent. I simply don’t fall for all the nonsense and drama queens out there. They’re just looking for attention and viewership and it’s best to ignore it.

A quick summary of some stocks on our watch list:

1) Aerospace/Defense: The stocks continue to act well and hold their key moving averages (if needed, you can refer to last weekend’s video for the list). Just remember to use the 21-day EMA as your guide for entry points. I’ve noticed continued bullish call flow in FLY. If you have patience and a longer-term time frame, I think this one is going higher over the next 6-12 months.

2) Semiconductors and Data Storage: SMH bounced off its 21-day on Tuesday. AVGO and TSM are near their 21-day. MTSI is showing incredible relative strength and one I will be looking to get back into. Q is near its 21-day and had some bullish flow today.

3) Data Center related: LITE, COHR, and GLW are near their 21-day. SIMO is showing incredible relative strength and one I will be looking to get back into.

4) Biotech: I sold my position in IMVT today after their strong pipeline update. I mentioned the bullish flow last week and I’m glad that it worked out.

5) Others: I’m seeing continued bullish options flow in NBIS and IREN. I still like them into year-end. Just be patient as they are simply consolidating their recent gains.

Remember my main guidelines during power trends: 1) Use the 21-day as your guide. In other words, if we are extended from this level, don’t be surprised to see minor pullbacks through price and/or through time. 2) Expose yourself to strong stocks and ETFs. There are plenty of ideas in these videos. 3) Get strong entry points near the 21-day and 50-day moving averages. 4) Manage your trades as best as possible based on your timeframe, risk tolerance, and overall investment plan. I can give guidelines, but ultimately, you need to decide what position size to use, the number of positions to own, when to take profits, and where to set your stop losses. Thank you and good luck for the remainder of the week. Also, just a friendly reminder that the US Markets are closed this Monday, May 25th for Memorial Day. The next Weekend Video will be posted by Sunday, May 24th.

Unusual Options Activity:
5/20/26 Nasdaq 100 ETF (QQQ) 4500 Sept $685 puts sell for $24.32, rolling up $615 short puts
5/20/26 Semiconductors ETF (SMH) opening seller of 1000 June 2027 $500 puts at $62.40
5/20/26 Tech ETF (XLK) buyer 2000 Dec $175 calls at $18.25
5/20/26 Emerging Markets ETF (EEM) 19,000 July $63 puts sell to open $1.96
5/20/26 Silver ETF (SLV) buyers of 5000 Oct $72 calls at $7.99 to $8.09
5/20/26 JP Morgan (JPM) size opening seller 5000 Sept 280 puts 8.60
5/20/26 Merck (MRK) 1000 June 2027 $110 puts sell to open $11.15
5/20/26 Dianthus Therapeutics (DNTH) 300 August $95 puts sold to open $14.50
5/20/26 Celcuity (CELC) 425 Sept $135 short puts open 18.90 bid
5/20/26 Insmed (INSM) 400 Jan 2028 $110 puts sold to open 28.70 to 28.40
5/20/26 GE Vernova (GEV) opening sale 1000 June $810 puts $4.70
5/20/26 Planet Labs (PL) buyer of 1400 August $47 calls at $8.50 offers
5/20/26 Rocket Lab (RKLB) 5000 July $130 puts sell to open $19.20
5/20/26 EchoStar (SATS) buyers of 1100 June $200 far calls at $0.95
5/20/26 Firefly Aerospace (FLY) buyer 1000 June 26th (W) $50 calls 4.50 offer
5/20/26 Cisco (CSCO) massive buy 5000 March $130 calls for $11.75
5/20/26 Dell (DELL) buyers of 4900 June $350 calls buying $2.30 to $2.70
5/20/26 Google (GOOG) opening sellers of 8000 August $350 puts at $12.30 to $12 bids
5/20/26 Palo Alto (PANW) 625 July 260 calls buying 16.50 to 17
5/20/26 IREN Ltd (IREN) 1500 Dec $50 puts sell to open $14.42
5/20/26 ST Micro (STM) 1280 Oct $95 calls buying 3.50 to 3.70
5/20/26 Ultra Clean Holdings (UCTT) buyer 300 Sept 80 calls 16.30 offer
5/20/26 Qualcomm (QCOM) buyer of 1300 June $245 calls at $5.10
5/20/26 Intel (INTC) buyer 2500 August $195 calls $4.90
5/20/26 Qnity Electronics (Q) 430 August $150 calls buy 19.90 offer
5/20/26 Astera Labs (ALAB) 1200 July $260 calls buy for $6M as $210 adjust
5/20/26 Astera Labs (ALAB) 500 July $220 short puts open $15.80
5/20/26 Corning (GLW) 400 Jan $160 short puts open 27.13
5/20/26 Applied Optoelectronics (AAOI) opening sale 250 deep ITM Dec $340 puts for $201
5/20/26 Applied Optoelectronics (AAOI) 3000 July $175 calls buying late day for $28.60 to $29.40
5/20/26 Viavi Solutions (VIAV) 2500 Nov $50 calls buy at $11.90 to $12.30
5/20/26 Micron (MU) opening sale of 1500 Sept $410 puts at $17.50
5/19/26 S&P 500 ETF (SPY) 5000 Dec 805/815 call spreads bought
5/19/26 Russell 2000 ETF (IWM) 13,500 Jan $275 short puts open 18.73
5/19/26 Walmart (WMT) 500 Dec 2027 $130 short puts open 13.56
5/19/26 Home Depot (HD) opening seller of 2400 July $260 puts at $2.82
5/19/26 Costco (COST) buyer 500 August $1140 calls at $36.50
5/19/26 Valero (VLO) 1900 June 275 calls buy 7.38 adjusting 260 calls
5/19/26 Occidental Petro (OXY) buyer 1000 Jan 72.50 calls $3.65
5/19/26 Expand Energy (EXE) 5320 July $90 puts sold to open to buy the $105 calls in r/r
5/19/26 EOG Resources (EOG) buyer 3000 July 155/165 call spreads as June 145/155 adjust
5/19/26 Citigroup (C) 8000 July $105 short puts open 1.36
5/19/26 Bank America (BAC) 1000 Nov $46 calls bought $7.45 offer
5/19/26 Revolution Medicines (RVMD) buyer 750 June 155 calls for 7.65
5/19/26 Corcept Therapeutics (CORT) buyers of 2000 June $62.50 calls at $1.50 to $1.80
5/19/26 Quanta Services (PWR) 1500 June $560 short puts open $8 to $7.90
5/19/26 Freeport McMoran (FCX) with 1000 Nov $55 short puts opening 5.60 bid
5/19/26 Nebius Group (NBIS) buyer 1400 June 5th $215/$235 call spreads
5/19/26 Nebius Group (NBIS) buyer 6000 Jan $210 calls at $66.25
5/19/26 Nebius Group (NBIS) sweep buys 1375 Sept $260 far OTM calls $33.85 offer
5/19/26 IREN Ltd (IREN) 2000 June 5th (W) $50 calls buy 3.55 offer
5/19/26 Amazon (AMZN) buyer 20,000 June $277.5 calls for $2.53
5/19/26 Google (GOOGL) late day buys of Dec 2027 $420 calls 2000X for $14M
5/19/26 Cisco (CSCO) 3100 Oct $120 puts sell to open $12.21
5/19/26 Intel (INTC) 6000 August $150 calls bought for $6.55 to $6.60 offer sweep
5/19/26 Broadcom (AVGO) buyers of 2000 June 5th $420 calls at $18.50
5/19/26 Qualcomm (QCOM) aggressive buy 1200 June $225 far OTM calls 7.35 offer
5/19/26 Advanced Micro (AMD) 800 Jan $320 short puts open 35.85
5/19/26 Global Foundries (GFS) 7250 Jan 2028 $55 short puts open 12.10 to 12
5/19/26 On Semi (ON) size opening sale 700 Oct 95 puts for 11.60
5/19/26 Applied Materials (AMAT) 575 August $310 short puts open 10.15
5/19/26 Amkor Tech (AMKR) opening sale 2200 Dec $45 puts at $5.40
5/19/26 Marvell Tech (MRVL) 800 Sept $155 puts sell to open $19.25
5/19/26 Corning (GLW) 300 Dec $160 short puts open 26.60
5/19/26 Coherent (COHR) buyers of 2000 June 5th $335 ITM calls at $32.60 to $36
5/19/26 MaxLinear (MXL) buyer 1300 Sept $105 calls at $28.90
5/19/26 AXT (AXTI) bull flow continues as 1100 July $115 calls buy up to $24.60
5/19/26 AXT (AXTI) also 400 Nov $140 calls buy 35.80 offers
5/18/26 S&P 500 ETF (SPY) buyer 5000 Dec $815 calls bought $11.93 adjusting Oct 30th 810 calls
5/18/26 Vanguard S&P 500 ETF (VOO) opening sale 1000 June $670 puts 9.30
5/18/26 Nasdaq 100 ETF (QQQ) 14,100 block June $685 puts sold to open $10.92
5/18/26 Dow Jones ETF (DIA) 3000 June 2027 $480 short puts open for 23.30
5/18/26 Energy ETF (XLE) size opening sale 7500 March 31st (Q) $60 puts for $5.58
5/18/26 Utilities ETF (XLU) 6000 Jan 42 short puts opening 1.75 to 1.72
5/18/26 Uranium ETF (URA) 1000 Jan 2028 $39 short puts open $6.30
5/18/26 Tesla (TSLA) 1000 June 26th $400 puts sell to open $16.61 in a single block
5/18/26 Philip Morris (PM) 1000 Nov $230 calls buy 4.10 offer
5/18/26 Devon Energy (DVN) 600 Jan 2028 47.5 short puts open 7.55
5/18/26 SLB (SLB) buyers of 1900 June $59 calls at $1.19
5/18/26 Madrigal Pharma (MDGL) buyer 250 Oct $520 calls for $1.6M
5/18/26 MasterCard (MA) 1290 August $450 short puts opening $8.90
5/18/26 Boeing (BA) 1800 Nov $235/$290 call spreads buy $13.20
5/18/26 Redwire (RDW) buyer 1000 June 17 calls 2.10
5/18/26 EchoStar (SATS) buyer of 1000 June 12th $150 calls at $7.80
5/18/26 Cameco (CCJ) 10,470 June 26th (W) $85 short puts open $0.86
5/18/26 Google (GOOGL) 9250 June $402.50 calls bought today $14M
5/18/26 Google (GOOG) 10,000 August $380 short puts opening $20
5/18/26 Amazon (AMZN) 3450 August $235 short puts opening near 6.15
5/18/26 Amazon (AMZN) also June $290 upside call buyers 25,000X
5/18/26 Amazon (AMZN) 3250 Dec 2027 $280 calls bought for $16M
5/18/26 Amazon (AMZN) 600 June 2028 $270 short puts open at 44.90
5/18/26 Nebius Group (NBIS) buyer 1000 June $215 calls for $16.60 to $16.80
5/18/26 CoreWeave (CRWV) 10,500 June 62.50 short puts open 0.43
5/18/26 CoreWeave (CRWV) 1000 Nov $70 short puts open $8.20
5/18/26 CoreWeave (CRWV) also 1000 March $90 short puts open for $21.25
5/18/26 Palo Alto (PANW) opening sale 1000 June $210 puts at $4.10
5/18/26 Cloudflare (NET) 500 June 2027 $175 puts sold to open $33.20
5/18/26 Intel (INTC) 5000 June $115 calls bought at $7.54
5/18/26 Nvidia (NVDA) June 1st (W) $245/$260 call spreads buy 25,000X
5/18/26 Nvidia (NVDA) 2400 Sept 2027 $200 short puts open for 30.13
5/18/26 Nvidia (NVDA) also 4000 August $215 short puts open at $16
5/18/26 Semtech (SMTC) bull flow continues with 870 Sept $145 calls buying $2.5M premium
5/18/26 ASML (ASML) opening seller of 500 August $1100 puts for $21.10
5/18/26 Broadcom (AVGO) 700 June 26th (W) $380 short puts open 12.25
5/18/26 Applied Optoelectronics (AAOI) 1700 June 2028 $250 calls buy at $103
5/18/26 Lumentum (LITE) 2000 June $800 puts sell to open $56 to $41
5/18/26 Lumentum (LITE) 2350 June 5th (W) $900 calls 2350X bought for $16M
5/18/26 Western Digital (WDC) opening sellers of 1100 July $410 puts at $35.75
5/15/26 Firefly Aerospace (FLY) late day buyer of 5000 July $65 calls at $1.90 offer
5/15/26 Netflix (NFLX) buyers of over 20,000 June $92 calls at $1.50 to $1.60