Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:15 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), BKR, DVN, EOG, HES, HP, OXY
4) 10:25 Stock Review – Watch List/General Ideas/Commentary: ACAD, AMLX, BHVN, MOS, EXPE, MA, AAPL
5) 13:05 Conclusion/Summary

Market Summary:
The message is the same as the past several videos: Stay defensive, be patient, and remain disciplined in your trading. If you are going to trade, use lighter than normal positions, get strong entry points, and stick to a loss cutting discipline. In healthier conditions, the market can sometimes forgive you for being undisciplined. However, in corrective markets, it can be ruthless if you don’t adhere to strict principles. I prefer not to do much trading because 4 out of 5 stocks move with the general direction of the market and we are clearly in a downtrend.

In recent videos, I’ve reviewed some of the factors needed for a sustained, new uptrend. Most importantly, I would like to see tons of growth stocks setting up. I also want to see consistent upside volume from the institutions, the Fed change their hawkish tune, the major indexes to get back above key moving averages, and more of a sentiment washout. I still see more people worried about missing upside than protecting capital in case of potential downside. Again, for all this to occur, it will require continued patience. If you have any questions or would like me to review stocks not covered in this video, you can ask them during the next webinar which will be this Saturday, February 19th at 11AM EST. Thank you and enjoy your weekend!

Unusual Option Activity
2/18/22 MasterCard (MA) buyer of the January $400/$450 call spread 2600X for $16.85, adding to yesterday’s buys
2/18/22 Pioneer Natural Resource (PXD) opening sale 200 January $230 puts for $41.50
2/18/22 Apache (APA) with 1500 March 4th (W) $32 calls opening $1.79 early
2/18/22 Occidental Petro (OXY) with 3400 June $25 puts sold to open $0.69
2/18/22 Devon (DVN) opening sellers 2500 April $39 puts today $0.74
2/18/22 Shockwave Medical (SWAV) seeing 600 March $150 calls open $11.50 as Feb. $145 adjust
2/18/22 Mosaic (MOS) opening sale 1000 September $42 puts for $4.85
2/18/22 Citi (C) buyers of 5000 May $65 calls today $3.20 to $3.30, Investor Day catalyst on 3-2
2/17/22 Marvell Tech (MRVL) opening sale of 2,180 March $55 puts for $1.16
2/17/22 Visa (V) buyer of 2000 January $240/$280 call spreads for $13.20 closes June $230 calls 2000X
2/17/22 MasterCard (MA) similar trade with 1000 January $400/$450 call spreads with June $360 adjusting
2/17/22 Halliburton (HAL) with an opening sale of 1000 July $30 puts for $2.30