I just wanted to chime in with a quick market update.

On Friday's Weekly Roundup, I said "The market has come a really long way off the April lows, but it might be time to wave the caution flag."

The week started strong as the market ignored the Moody's downgrade of the US credit rating.

But things are looking a little shakier today.

That's why I added some SPY puts today, and sold some of my longs.

I'm not saying we collapse, but I am being more careful.

It feels like the crowd thinks we can't go down - which shows you how much a rally can change the mood.

As for our Power Plays, I'm satisfied with how we're positioned overall.

DoorDash (DASH) and IBIT in particular are looking very good in this environment.

And should we need to switch gears with any of our names, I'll let you know.

-Scott