Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 16:00 Stock Review – Watch List/General Ideas/Commentary: AAPL, NVDA, ACLS, AMBA, LRCX, MU, ON, ONTO, PI, TER, SMH (ETF), XLU (ETF), XLP (ETF), XLV (ETF)
4) 19:30 Conclusion/Summary

Market Summary:
We had a Follow Through Day (FTD) today on the Nasdaq Composite and S&P 500. That doesn’t mean we are out of the woods yet, but it’s definitely a step in the right direction. As I mentioned in recent videos, a big positive is that these two major indexes continue to hold their respective 50-day moving averages. The biggest negative is that there are very few stocks providing strong entry points. Besides Apple, it seems like the only thing holding up well in growth land are Semiconductors. From here, I would like to see more stocks set up, and make sure we don’t see any heavy distribution in the upcoming days. I will not force ideas when I’m not finding many stocks providing safe entry points.

What sparked today’s FTD was the Fed meeting. Some people are saying Fed Chair Powell was very balanced during the press conference, didn’t seem too hawkish, and smoothly navigated through the questions. Others are saying that he’s still planning to raise rates next year and that’s not necessarily good for the stock market, especially for high multiple growth stocks. My take is I would like to be patient and wait for more stocks to set up. As I’ve mentioned in several recent videos and memos, one way to participate in the market until there are more stock ideas is by using ETFs (both index and sector ETFs). In this video, I address members who might have been lightly invested coming into today, and also members who were fully invested. The bottom line is: don’t get frustrated, it’s ok if you missed one day, be patient, reduce emotions, and practice discipline until growth stocks prove themselves a little better. Thank you and good luck for the remainder of the week.

Unusual Option Activity
12/15/21 Semiconductor ETF (SMH) with 1000 Jan. 2023 $300 puts sold to open $39.10
12/15/21 Roblox (RBLX) IV coming down this afternoon with 4000 July $85 puts being sold to open $15.25 to $15
12/15/21 Nvidia (NVDA) early in the session seeing next week $295 calls trading 2400X
12/15/21 DR Horton (DHI) with 4350 Feb. $115 calls opening $2.54 to $2.63
12/15/21 Albemarle (ALB) opening sale 500 Jan. 2024 $230 puts for $55
12/15/21 LAM Research (LRCX) bullish spreads selling the February $580 puts for $14.45 and buying the January 28th (W) $510 puts for $3.70
12/15/21 Marvell Tech (MRVL) with 3,000 January $87.50/$97.50 call spreads bought to open for $2.55, some $95 calls adjusting
12/14/21 Broadcom (AVGO) with 400 July $510 puts sold to open $20.20
12/14/21 Amazon (AMZN) with 1100 Dec. 31st (W) $3300/$3500 call spreads opening as Dec. adjust
12/14/21 Cutera (CUTR) buyer 5000 Jan. $35/$50 call spreads adjusts Dec. $35 calls
12/14/21 Apple (AAPL) buyer 2350 March 2023 $220 calls $9.90 as the $200 calls adjust higher
12/14/21 Perion Networks (PERI) with 1000 July $25 calls bought $3.42 to $3.48 with the $17.50 puts sold 1300X for $2.15, follows the large April bull spreads recently
12/13/21 Tesla (TSLA) afternoon buyer of 1300 June 2023 $1900 calls $114 to $117 range
12/13/21 Lattice Semiconductor (LSCC) 1070 Jan $80 calls open $2.35 as Dec. $65 adjust 745X
12/13/21 Apple (AAPL) buyer of 1500 Jan. 28th (W) $190 calls $4.90 to $5.15
12/13/21 MGM Resorts (MGM) buyer 5000 February $41/$47 call spreads for $1.86
12/13/21 ON Holdings (ONON) buyers of 2000 January $40 calls for $1.85 to $1.87, the December $35 calls adjusting out
12/13/21 Biotech ETF (XBI) with 4350 March $120 calls opening this morning
12/10/21 Taiwan Semi (TSM) with 1,300 September $110 puts sold to open for $8.45