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Topics covered:
1) 0:00 Announcements
2) 1:10 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 12:00 Stock Review – Energy/Commodity: XLE (ETF), OIH (ETF), XOP (ETF), APA, BTU, HP, IPI, MTDR, MUR
4) 15:10 Stock Review – Watch List/General Ideas/Commentary: DAC, EVH, GFS, ITCI, SG, BROS, SRRA, PCRX, CLH, AVGO, COST, LLY, REGN, VRTX, BMY
5) 20:00 Conclusion/Summary

Market Summary:
Today was a day 14 Follow Through Day (FTD) for the S&P 500 and Russell 2000. After the last FTD we had on 1/31, I immediately emailed the members telling you that it had a high probability of failing. So what do I think of today’s FTD? I’m 50/50. I would honestly like to see the market prove itself better before I commit more capital. My instinct tells me that we could see a countertrend rally within an overall bear market, but I will of course be open-minded. What I will be watching for over the next week or two: 1) Make sure there are no distribution days because distribution after a FTD increases the probability it will fail. 2) Look for additional accumulation, which could come next week. 3) Wait for more stocks to set up.

Speaking of stocks, there are very few quality setups right now. That’s why I mentioned in last weekend’s video to use ETFs if you wanted to play a possible quarter-end rally because there were very few stocks to buy. Again, I will be very open-minded and I know things can change quickly. That’s why I will continue to run extra screens and look for market health to improve. In this video, I review the 5 things I need to see for a new, sustained uptrend. We’re still not out of the woods by any means, which is why I suggest continued patience, using light positions, and giving the market time to prove itself. If you have any questions, you can ask them during the next webinar which will be this Saturday, March 19th at 11AM EST. Thank you and good luck for the remainder of the week!

Unusual Option Activity
3/16/22 DataDog (DDOG) more bull flow with 2150 May $135 calls bought near $13.40 to open
3/16/22 Bristol Myers (BMY) opening sale 1000 April 22nd (W) $68 puts $1.48
3/16/22 Materials ETF (XLB) opening sale 8000 January $64 puts for $2.30
3/16/22 Nasdaq 100 ETF (QQQ) buyers active early for 4000 Mar. 31st (Q) $337 calls $7.50 to $7.90
3/16/22 Clean Harbors (CLH) buyer 1250 April $110 calls for $4.30 as 1K April $100 adjust, recent M&A talks
3/16/22 On Holding (ONON) with 2190 April $22.50 calls being bought $2.80 to $3.10 ahead of 3-18 earnings
3/16/22 Pfizer (PFE) with 10,000 May $57.5 calls sold to open for $1
3/15/22 DataDog (DDOG) buyer of 950 May $120 calls $15.15 to $15.65
3/15/22 Union Pacific (UNP) seeing 3500 April $235 puts sell to open $2.05 to $1.76
3/15/22 Apache (APA) buyer 500 October $35 calls to open $7.40
3/15/22 EOG Resources (EOG) opening sale 750 January $79.50 puts for $5.70
3/15/22 Tesla (TSLA) buyer of 1000 July $950 calls $59.50 to $59.75
3/15/22 Nasdaq 100 ETF (QQQ) buyer of 5000 April 1st (W) $330 calls near $8.10
3/15/22 Apple (AAPL) today with 10,000 April 22nd (W) $150 puts sold to open $5.60
3/15/22 Apple (AAPL) also with April 29th (W) $175 calls also being sold to open, expecting a range
3/15/22 Exxon (XOM) buyer of 1000 September $80 calls $5.95 to $6 into 55-MA test
3/15/22 Amazon (AMZN) midday with 2000 April $3145 calls opening $46.50 to $49.50
3/14/22 Apple (AAPL) with 10,000 April 22nd (W) $160 calls sold to open early $3.60 to $3.50
3/14/22 Peabody Energy (BTU) opening sale 2000 April $19 puts at $2.40
3/14/22 Holly Frontier (HFC) buyer of 2000 April $38 calls $1.75 to $1.95 after size call buys last week
3/14/22 Diamondback (FANG) nearly 4000 April $130 calls being bought here $7.90 to $8.20
3/14/22 Acadia Pharma (ACAD) with a buyer of 3000 June $25 calls $3 as the March $20 calls from 2/7 close
3/11/22 Russell (IWM) late day buyers of 20,000 April $187 puts for $4.71 to $4.73
3/11/22 Chevron (CVX) buyers of 1000 April $185 calls for $3.50