This market has been good to us, showing once again it pays to focus on opportunities and setups rather than calling tops and obsessing over macro issues.

With the major indices hitting record highs, this feels like time for certain leaders to take a bit of a rest, which is why we took profits in NVDA, AAPL, and GOOGL yesterday.

However, individual setups keep appearing, which is why we added two new Power Plays this week.

Remember that our idea flow depends on the action.

We've had times in the past where we went a week or two between new ideas.

And over the long run, we've averaged about one new idea a week.

But don't be surprised if we don't have new ideas next week.

Nvidia (NVDA) reports earnings on Wednesday, and that will have a lot of fallout for the semis and other areas in tech.

Have a great weekend.

Now let's look at our current Power Plays:

Oracle (ORCL): I added this Thursday as it looks like it can play catch-up to AI names like NVDA and SMCI. NVDA's earnings report could be a catalyst next week.

Toast (TOST): I added TOST as a Power Play Tuesday since it was holding its earnings gap well, and looked poised to extend. So far, so good. I'd like it to clear $27.90 to set up a more powerful move.

Apple (AAPL) has regained its leadership status, but it probably needs a few days to digest before it can go again. We took off 1/3 on Thursday to lock something in.

Amazon (AMZN) looked strong for much of last week, but has been pretty sloppy this week. Still, it's constructive on a macro basis so we will stick with it.

Google (GOOGL): the company's AI event this week was well-received and the stock has been performing well. We took off half Thursday because it might need a rest.

Nvidia (NVDA): we took off half Thursday into strength. The stock looks great though we'll look to take the rest off into earnings next week to avoid the binary risk. I might share a bonus options idea here so stay tuned.

SLV May 17 $28 Calls: Silver has come back quite a bit so we may be able to salvage some premium today, which is expiration day. For now we'll assume we close these out at day's end, but stay tuned for an alert just in case.

Global X Uranium ETF (URA): this ETF got a boost two weeks ago after the US banned Russian uranium imports. We are still waiting for a real breakout over the $32 area. I'll be patient.

Have a great weekend.

 -Scott