Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 3:25 Stock Review – Watch List/General Ideas/Commentary: CELH, SWAV, GH, EVH, ENVX, XBI (ETF), IRTC, PRCT, LNTH, LTHM, ALB, PI
4) 7:20 Conclusion/Summary

Market Summary:
I would like to reiterate my message from recent videos: Stay defensive, protect capital, and be patient until market conditions improve. Over the past few weeks, some stocks were holding up well, but I was concerned that the weight of the market might bring them down. After the ugly distribution week last week, I mentioned in the Weekend Video that I reduced my exposure to less than 10% invested. The technicals were getting worse and we needed to wait for some clarity from the Fed. In today’s Fed meeting, they raised rates 75 basis points (as expected), but their tone was very hawkish, as they are focused on aggressively fighting inflation.

The bottom line is that you need to stay defensive until the Fed is done with their current rate hiking cycle. We are unlikely to see a sustained rally until they pivot to a more dovish stance, and that will take some time. It’s best to protect capital and be patient until we see signs of the big institutions consistently buying. The good news is that there will be strong opportunities when we come out of this bear market, but it will require some patience and discipline until we get through this correction. Again, please stay defensive, minimize new buys, and stick to a loss-cutting discipline if any positions have a Friday close below their 10-week moving average. Good luck for the remainder of the week.

Unusual Option Activity:
9/21/22 Google (GOOG) June 2024 $100 call buys at $23 for over 9850X
9/21/22 Dice Therapeutics (DICE) with 4500 October $22.50 calls bought at $4.70
9/21/22 Texas Instruments (TXN) with 1500 June $160 puts sold to open for $13.94
9/20/22 Tesla (TSLA) with 12,000 Oct. 7th (W) $330 calls opening $5.50
9/20/22 Biotech ETF (XBI) with 4500 November 78 puts selling to open down to 4.10
9/20/22 Russell 2000 ETF (IWM) buyer 9000 March $125 puts for $1.84
9/20/22 Exxon (XOM) with a large buy 1550 December $92.50 calls for $6.40
9/20/22 Exxon (XOM) also 1000 January 2025 $100 puts sell to open $21.75
9/20/22 CrowdStrike (CRWD) trade opens 1020 Dec 195/150 bull risk reversals at $3.10 debit
9/20/22 Palo Alto (PANW) similar trade as CRWD with 1020 Dec $190/$150 bull risk reversals opening for $3.90
9/19/22 Semiconductor ETF (SMH) opening sale 1500 December 180 puts for 6.35
9/19/22 Oil ETF (USO) with 13,000 December 68/60 put spreads bought as October spreads adjust
9/19/22 Enphase Energy (ENPH) buyers of 600 December $370 calls at $24.40
9/19/22 Occidental (OXY) opening sale 300 June $70 puts 13.75
9/19/22 Amazon (AMZN) buyer of 3900 December $86 puts $1.27
9/19/22 Taiwan Semi (TSM) large buy of 17,500 Dec $80 calls at $4.42, adjusting the October calls