Topics covered:
1) 0:00 Announcements
2) 0:45 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 4:50 Stock Review – Watch List/General Ideas/Commentary: XBI (ETF), CINC, RVNC, AMLX, CELH, SWAV, GH, HALO, CALX, CF
4) 11:00 Stock Review – Energy: AMR, DVN, COP, XOM, FANG, MPC, DINO, XOP (ETF), XLE (ETF)
5) 13:30 Conclusion/Summary

Market Summary:
As you know, I like to look at the positives and negatives in the market and adjust my investment levels accordingly. Current positives: 1) The major indexes were down on lighter volume than the previous week. It could be a sign that the selling is slowing down but we have to wait and see. 2) Sentiment. From a contrarian point of view, the majority of sentiment measures are showing extreme bearishness. Current negatives: 1) The technicals are horrible, as we are below all the key moving averages. 2) The Fed is still raising rates and determined to fight inflation. 3) There are no growth stocks setting up (I review this in the Saturday Webinar).

The conclusion is the same: Stay defensive, be patient, protect capital, and protect confidence. We need to see conditions improve before I feel more confident putting capital to work for a consistent uptrend. As I’ve mentioned several times, my feeling is this will come when the Fed verbally announces that they are pausing their current rate hiking cycle. I am approximately 10% invested and will use index ETFs to slowly scale back in if we see another leg down in the major averages. This week, the MidWeek Video will be posted on Tuesday, October 18th (instead of Wednesday) by 8PM EST. Also, the next webinar will be this Thursday, October 20th at 7PM EST. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
10/14/22 Russell 2000 ETF (IWM) Nov $161 puts active with buyers this morning 33,000X as the $165 puts adjust down
10/14/22 Nasdaq 100 ETF (QQQ) buyer 3000 Nov. 16th (W) $250 puts for $5.09 spread vs. Nov. 11th (W) $220 puts
10/14/22 Oil & Gas ETF (XOP) buyer 4500 November 108 puts for $8.80 as Oct. puts adjust
10/14/22 Axsome (AXSM) recent positive with the RLMD failure seeing spreads buy 4750 Dec. $60 calls and sell the March 80 calls
10/14/22 Tesla (TSLA) seeing buyers of 5000 Dec $160 puts at $7.10 as the $180 puts adjust
10/14/22 Tesla (TSLA) also with 33,580 June 2024 $400 calls selling to open at $25.70 as the Jan 2024 $350 calls adjust out
10/14/22 Chevron (CVX) seeing 700 November 25th $150 puts sold to open $4.35
10/14/22 Cheniere Energy (LNG) with 400 Nov $155 puts sold to open $4.00 to buy the $185 calls at $5.10 in a bull risk reversal
10/14/22 Biogen (BIIB) large buyer of 1700 November $285 calls for $8.60 to $9.10
10/14/22 Merck (MRK) buyer of 1200 Dec $92.50 puts for $4.35
10/14/22 Advanced Micro (AMD) buyer 2420 April $75 calls $3.90 offer
10/14/22 Texas Instruments (TXN) buyers of 4000 Dec $150 puts at $10, adjusting $165 puts
10/14/22 Applied Materials (AMAT) opening seller 1500 December 77.5 puts 7.70 bid
10/14/22 Google (GOOGL) opening seller of 2700 September $165 calls for $1.25
10/13/22 Exxon (XOM) early standout bull flow with 4000 Oct. 98 calls hot
10/13/22 Exxon (XOM) also 1000 Oct. 28th (W) $99 puts and 1000 Nov. 4th (W) $98 puts bought
10/13/22 Apache (APA) opening sale 1250 November $47.5 ITM puts for 6.90
10/13/22 Inmode (INMD) buyer 1250 January $27.50 puts $2.45 into strength
10/13/22 Inmode (INMD) also seeing 6400 January $40 calls sell to open $2.36
10/13/22 MP Materials (MP) unusual buying of 2500 November 35 OTM calls at 0.85 offer
10/13/22 Amazon (AMZN) large buyer 10,000 December $100 calls for $14.65
10/13/22 Applied Materials (AMAT) buyer 1000 November 82.50 puts $6.90 to open
10/13/22 Datadog (DDOG) with 750 January 2024 $130 calls selling $9.50 bids