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Topics covered:
1) 0:00 Announcements
2) 1:00 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:25 Stock Review – Watch List/General Ideas/Commentary: XLE (ETF), XOP (ETF), DINO, CELH, SWAV, WWE, HALO, UTHR, XBI (ETF), CYTK, CCXI, VIVO, BLTE
4) 17:10 Conclusion/Summary

Market Summary:
In this video, I review some historical examples of when the Fed shifted their monetary policy, stopped raising rates, and/or provided accommodation for the markets. The point is that we still need to wait patiently until the Fed stops or pauses this current rate hiking cycle before we see a SUSTAINED new uptrend. My guess is that it will be around August/September, however, I will of course be open-minded and stay on top of thigs everyday. In the meantime, there’s not much to buy. As I mentioned in the recent Market Note, I prefer that members don’t trade, but if you are going to, use ETFs and keep your positions SUPER light. It’s just not worth it at this time. There will be tremendous opportunities when we come out of this bear market, but I can’t stress the importance of continued patience and discipline right now. Thank you and enjoy the remainder of your long weekend!

Unusual Option Activity
6/17/22 Russell 2000 ETF (IWM) big bull trade this morning with 4500 June 2023 $170 calls bought $16.81
6/17/22 Halliburton (HAL) early buyers 1800 August $31 puts $2
6/17/22 Schlumberger (SLB) buyers 3850 November $32.50 puts $2.99
6/17/22 SeaGen (SGEN) 1500 July $170 calls bought as the June $160 adjust
6/17/22 SeaGen (SGEN) also buyers in July $180 calls 1000X and $190 calls 2000X
6/16/22 Diamondback Energy (FANG) large trade opens 8500 Dec. $130 calls at $21 as Sep. $127.65 roll
6/16/22 Valero (VLO) with 2200 January $150/$105 bear risk reversals opening at $3.15 debit
6/16/22 Oil & Gas ETF (XOP) with 1500 September $129 puts bought $8.40
6/16/22 Semiconductor ETF (SMH) large buyer in Nov. $176 puts 7000X at $10.25
6/16/22 Homebuilders (XHB) with 5000 July $50/$45 put spreads bought into housing data next week