Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 5:10 FOCUS LIST: XBI (ETF), CELH, SWAV, PRCT
4) 8:15 Stock Review – Watch List/General Ideas/Commentary: IRTC, TMDX, LNTH, AXNX, STAA, PRVA, EVH, GH
5) 13:20 Stock Review – Watch List Continued: ALB, LTHM, ENVX, ENPH, PI, QLYS
6) 15:25 Conclusion/Summary

Market Summary:
As I’ve mentioned in recent videos, there are many stocks acting well but market conditions are weak. When presented with this scenario, usually one of two things happens. Either the market stabilizes, stocks start to improve, and the institutions come back in with strong volume on the up days, or the market technicals get worse and it weighs down on stocks. Unfortunately, the latter occurred this week, as it was an ugly down week on higher volume. I’ve discussed being defensive and keeping positions light, but this past week makes me even more defensive. I was approximately 50% invested and reduced down to less than 10% invested, as I got stopped out of a few positions and sold others simply to reduce risk.

From here, I am going to be very patient and defensive. I am not “doom and gloom” about the market, I just want to see signs of the institutions coming back in with consistency. I don’t think we will see that until the Fed pauses their current rate hiking cycle. We should hopefully get more clarity after their upcoming meeting this Wednesday. In the meantime, I plan on keeping a high level of cash until market conditions improve. I am confident that there will be strong opportunities later this year, but I would like to see the market prove itself better. If you have any questions, you can ask them during the next webinar which will be this Monday, September 19th at 7PM EST. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
9/16/22 Energy ETF (XLE) with 10,000 Dec. $72 puts selling to open 3.30
9/16/22 Privia Health Group (PRVA) with 2000 Oct. $40 calls bought $3.65 and 1000 of the $35 puts sold or $1.05
9/16/22 Microsoft (MSFT) buyers 12,000 October $220 puts up to $3.10
9/16/22 Apple (AAPL) buyers of 10,000 Dec. $145 puts $8.15
9/15/22 Nasdaq 100 ETF (QQQ) opening sale 9000 March $235 puts for 6.95
9/15/22 Lantheus (LNTH) opening sale 1000 Oct. 90 calls 3.05 willing to get called away
9/15/22 Amazon (AMZN) buyer of 1000 September 2023 $140 calls for $17.75
9/15/22 ChargePoint (CHPT) with 10,000 Sept 23rd $19 puts sold to open at $0.85, adjusting Sept 16th short puts
9/15/22 Occidental (OXY) seeing 1100 Oct 28th $70 calls sold to open at $2.83
9/15/22 Microsoft (MSFT) with a large aggressive buyer of 25,000 October $225 puts at $2.58 above the offer
9/15/22 Salesforce (CRM) buyer 1350 February $135 puts for $7.60