I am working on an article for Yahoo Finance to discuss my market outlook into the Presidential election. It should be ready by early this week and I will include a link in the next video. It is basically a summary of the points I’ve been presenting in recent videos that we are heading higher for the following reasons: 1) Little distribution 2) The major indexes are above their key support level moving averages 3) The Fed and 4) The leaders continue to act well. Of course, I will be open minded and flexible and present any warning signs to you in these videos. Also, I think the recent excessive bullish sentiment will lead to shakeouts and pullbacks along the way, just to keep the bulls in check. The way I am handling this is by doing my best to take profits into strength and having cash available for the inevitable pullbacks. If you don’t have the time to watch the market closely or if you have a longer-term timeframe, then I suggest using smaller positions and giving your stocks room to work. I am doing my best to promote calm trading and to also build confident and consistent traders. One way to do this is with lighter positions and using the 10-week moving average as your guide. If you have any questions, please bring them up in Sunday’s webinar which will be at 11AM EST. Thank you and enjoy the rest of your weekend!

Mike Webster’s Weekend Video: https://www.investors.com/market-trend/stock-market-update-roller-coaster-raging-bull-market/

Unusual Option Activity:
8/14/20 DocuSign (DOCU) shares working higher late with 2,600 September $210 calls bought up to $11.90
8/14/20 Zillow (Z) buyers of 500 August $74.50 calls for $2.10 to $2.10 today, follows some size Feb. buys yesterday
8/14/20 Microsoft (MSFT) with 1,000 March $205 puts sold to open for $21.30
8/14/20 Apple (AAPL) the December $460/$500 call spread being bought over 12,750X this afternoon, paying $15.40
8/14/20 Apple (AAPL) this afternoon also with 3,000 September 11th (W) $500/$530 call spreads bought for $3.10
8/14/20 Service Now (NOW) just before mid-day buyers active for 3,000 August $460 calls from $1.77 to $2.00 to open
8/14/20 Fastly (FSLY) with 825 March $70 puts selling to open $16.70 bids
8/14/20 NVIDIA (NVDA) buyers in October $600 OTM calls today 1600X $5 to $5.40 range
8/14/20 Tesla (TSLA) with 1000 September $1920 calls opening above $70 as August $1700 adjust
8/13/20 Cerence (CRNC) 1000 Sep $55 calls opening w/ Aug rolls
8/13/20 Intuitive Surgical (ISRG) with 1,320 January $740 calls opening for $5.5M as the $600 calls adjust
8/13/20 Apple (AAPL) a few large call spread today with 7000 March $480/$520 and 5500 November $460/$500
8/13/20 Zoom (ZM) day highs seeing 1000 Sep. 4th (W) $270 calls bought to open for $10, captures earnings 8-31
8/13/20 Tesla (TSLA) 1500 September $1830 calls opening, a $12M position as some weeklies adjust

Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary
3) 7:55 Index Review (Nasdaq Composite, S&P 500, Russell 2000)
4) 12:50 Stock Review – Mega Caps: AMZN, ADBE, MSFT, NFLX, FB, GOOGL, AAPL, QQQ (ETF)
5) 17:40 Stock Review – Software: AYX, VEEV, DOCU, COUP, FSLY, NOW, CRM, ZS, ZM, FVRR, RNG, INOV, SPSC
6) 20:45 Stock Review – Biotech: IBB, BTAI
7) 23:00 Stock Review – Payments: MA, V
8) 24:20 Stock Review – Semiconductors: NVDA, LRCX, AMD, AEIS, KLAC, SMH (ETF)
9) 27:20 Stock Review – Medical Products/Others: DXCM, SILK, SWAV, NARI, TXG, Z, RACA
10) 30:35 Current Setups – MA, SPSC, PGNY, CCS
11) 32:25 Conclusion/Summary