Topics covered:
1) 0:00 Announcements
2) 0:45 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:05 FOCUS LIST: XBI (ETF), CELH, SWAV, PRCT
4) 12:05 Stock Review – Watch List/General Ideas/Commentary: IRTC, TMDX, LNTH, AXNX, GH, EVH, PRVA, XENE, AXSM, CYTK, VERV, LTHM, ENVX, ENPH
5) 18:55 Conclusion/Summary

Market Summary:
The price action over the past few weeks shows that the move from July to mid-August was a rally within a bear market. In healthier conditions, we wouldn’t have seen the market pull back below key moving averages and occur on higher than normal volume. The conclusion right now is defense. We will not see anything sustained to the upside until the Fed pauses their current rate hiking cycle. In this video, I review the positives and the negatives, and right now, there are too many negatives. It doesn’t mean that we have to break down and make new lows, but it does mean to stay defensive as we are likely to have higher than normal volatility over the next few weeks.

If you are going to trade, please keep positions light and stick to a loss cutting policy based on your timeframe. In this video, I try to keep the list as focused as possible on stocks that are still acting well, but I’m not expecting any major upside until the overall market conditions improve. If you have any questions, you can ask them during the next webinar which will be this Monday, September 5th at 7PM EST. Thank you and enjoy the remainder of your long weekend!

Unusual Option Activity:
9/2/22 S&P 500 ETF (SPY) buyers of 35,000 Oct $383 puts $6.58 for nearly $25M trading into morning highs
9/2/22 S&P 500 ETF (SPY) also with 2000 Sep. 28th (W) $396 puts bought $8.50, and Sep. 30th (Q) $384/$358 put spreads bought 5000X
9/2/22 Guardant Health (GH) buyers of 1650 October $50 calls up to $7.30
9/2/22 Enovix (ENVX) buyers 1850 October $22.50 calls $1.80 to $2
9/2/22 Tesla (TSLA) with 1000 November $256.67 short puts opening at $18.90 as Sep. $266.67 adjust
9/2/22 Axsome Therapeutics (AXSM) with 675 December $60 puts sold to open down to $9.21
9/1/22 Nasdaq 100 ETF (QQQ) buyer of 7000 Sep. 30th (Q) $286/$264 put spreads
9/1/22 S&P 500 ETF (SPY) October $374 puts active with buyers today 20,000X for over $15M
9/1/22 Tesla (TSLA) opening seller 500 September 2023 $220 puts for $34.50
9/1/22 Cheniere Energy (LNG) buyer 1650 December $120 puts for $3.06
9/1/22 Irhythm Tech (IRTC) with 2500 Sept $160 calls opening up to $3.60 after 750 of the $150 calls bought yesterday
9/1/22 Apple (AAPL) with 20,000 next week $160 calls selling to open
9/1/22 Microsoft (MSFT) large opening seller 5500 December 220 puts $5.55 to $5.40
9/1/22 Nvidia (NVDA) seeing 3000 April $120 puts bought at $14.20