Before we start, I'm adding Uber (UBER) to Power Plays here because it looks ready to follow DoorDash (DASH) higher.

UBER, trading around the $91.65 area, needs to hold the $83 to $87 area.

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The market has come a really long way off the April lows, but it might be time to wave the caution flag.

I’m not saying we’re set to collapse but this is a time where I’m looking to be very selective with new names.

There’s been a nice amount of good news lately (strong earnings season, falling inflation, trade deals) so the bar to ignite a new move up is pretty high.

That’s why I’m short some SPY calls as a hedge.

I WANT to make sure I’m balanced in what could be a tricky few days.

But there are opportunities because it’s such a stock-specific environment. Look at Netflix (NFLX) as an example.

And Bitcoin has been amazing – thankfully we’ve had exposure through IBIT.

So the near-term game plan is trim winners, and be prudent in putting capital to work.

The news flow will be a little lighter this week, though anything can happen with the President.

Now let’s talk about our current names:

Apple (AAPL) looks ready to play catch-up to faster-moving momentum names, so I added it to Power Plays this morning. I’m looking for a breakout through $214.60 to wake it up. It’s not acting well now but we’ll see how it goes.

DoorDash (DASH) still has go-to status and looks ready to hit new highs. Not much to say beyond that - it looks phenomenal.

Palantir (PLTR) got a fast start when we added it, so it probably needs to digest a bit. I'd like to see it hold the $125 area before resetting to go higher again.

iShares Bitcoin Trust ETF (IBIT) has been a true monster, and I’m glad we stuck with 1/3. There is still big upside potential here with Bitcoin in full runaway freight-train mode on possible $150K this year.

AST SpaceMobile (ASTS) was stuck in the mud for quite a long time but it’s been showing improvement since Monday’s business update. The company’s growth plans remain on track so I’m sticking with it.

Enjoy your weekend!

-Scott