Power Plays Weekly Roundup 

May 19, 2023

By Scott Redler

Just a heads up in case you missed it: we took off Google (GOOGL) from Power Plays Thursday to lock in the win.

Man, what a week.

The QQQ's blasted up to new highs which took many bears offsides, and now tech looks like it's stretched.

The SPY doesn't look quite as extended, though that could change if banks and energy start playing real catch-up and the rally broadens out even more.

This is still somewhat a market of haves and have nots and you need to be fast, especially if you're playing spec names.

The action has been good for our remaining name Apple (AAPL), and pushed Google (GOOGL) up as well.

But now's the time to be a bit more cautious.

I'm not saying we're going into free fall or that there are easy shorts. It's more a situation of things just needing to digest a bit.

Current Power Plays:

Apple (AAPL): The stock held big support at the $172ish area this week which was good to see.

Have a great weekend. Get some rest and relaxation!


Scott Redler Positions Disclosure as of 2023-05-19 at 9.47.13 AM