Topics covered:
1) 0:00 Announcements
2) 1:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:25 Stock Review – Mega Caps: AAPL, TSLA, MSFT, GOOGL, FB, CRM, ADBE, NFLX, PYPL, SQ, SHOP, ISRG, AMZN, QQQ (ETF)
4) 17:35 Stock Review – Semiconductors: NVDA, AMD, ACLS, ALGM, AMAT, LRCX, MU, SYNA, UCTT, MRAM, PI, SLAB, ON, ONTO, SMH (ETF)
5) 22:30 Stock Review – Software: PANW, DDOG, QLYS, TENB, FTNT
6) 24:10 Stock Review – Biotech: BCYC, INBX, KZR, RCUS, BCTX, CCXI, XBI (ETF), IBB (ETF)
7) 27:15 Stock Review – Watch List/General Ideas/Commentary: FCX, ENVX, MP, GLBE, SGH
8) 29:50 Conclusion/Summary

Market Summary:
Over the past several videos, I discussed being defensive for the following reasons: 1) There were very few growth stocks setting up 2) The major indexes were breaking down below their 10-week moving averages 3) The Fed was changing their stance and becoming more hawkish. Last week, some of these conditions improved and I’m seeing some positive signs in the market. However, I still think it’s worth being a little patient until the market proves itself. I’m guessing we will have better clarity over the next week or two when institutional volume comes back into the market. Again, I would like to stress that defensive does not mean bearish. It just means using a little caution until market health improves.

The biggest improvement last week was that the Nasdaq Composite and S&P 500 regained their 10-week moving averages. Also, the price action in growth stocks improved and I discuss many of them in this video. The biggest problem is that last Tuesday through Thursday’s advance occurred on lighter and lighter volume. I would like to see more volume come in over the next week or two showing more commitment from the big institutions for a possible sustained advance. Regarding the Fed, the more I think about it, even though they are tapering and potentially raising rates a few times in 2022, overall, it will still be a favorable environment for stocks. It really depends on the data that comes out during Q1 2022 (especially the inflation data), and how hawkish they become after the taper (the speed and amount of each rate hike). Again, it’s just a thought and I’m still waiting for more information.

As I always do, I will approach the market with an open mind and tons of flexibility. I increased my investment levels last week, but I still have a decent cash position because I’m waiting for the market and many growth stocks to prove themselves. As always, do what works for you and your own risk tolerance. If you have any questions, you can ask them during the next webinar which will be Monday, December 27th at 7:30PM EST. Thank you and enjoy the rest of your holiday weekend!

Unusual Option Activity
12/23/21 Apple (AAPL) large opening sales of 2000 June $175 puts for $14 to $13.90 this afternoon
12/23/21 Advanced Micro (AMD) sellers active in the January 14th (W) $148, $147, and $146 puts in size
12/23/21 Marvell Tech (MRVL) with 1800 March $90 calls bought for $7.05 today as some January $85 calls close and adjust out
12/23/21 Biotech ETF (XBI) buyers this morning 1650 February $119 calls $5.30 to $5.45
12/23/21 Floor & Decor (FND) with a buyer of 900 July $110/$160 call spread for $21.56
12/22/21 Taiwan Semi (TSM) 1000 January $117 calls are bought $5.10 offer, also 2000 Jan. $127 calls bought $1.32
12/22/21 Taiwan Semi (TSM) also with 1,800 January $118 calls bought today around $4.65 to $5.35
12/22/21 Microsoft (MSFT) with buyers in the March $365 calls for $4.65 to $5
12/22/21 Tenable (TENB) with 2000 January $60 calls bought this afternoon from $1.15 to $1.20
12/22/21 Google (GOOG) bull spread this afternoon sold 1,744 March 2023 $2350 puts for $133.70 and bought the January 2023 $2300 puts for $110.55
12/22/21 Align (ALGN) with 200 January 2023 $880 calls opening $40.20 to $40.50
12/22/21 Pfizer (PFE) the January $59 calls bought 1500X today from $2.01 to $2.37
12/22/21 Russell 1000 Growth ETF (IWF) opening sales 1800 May $240 puts for $4.40
12/22/21 Tesla (TSLA) with 3000 Jan. 14th (W) $900/$1000 call spreads opening this morning