Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 6:15 Stock Review – Energy: XOP (ETF), XLE (ETF), XOM, CVX, OIH (ETF), SLB, DINO, FANG, DVN, OXY, APA, VLO
4) 10:25 Stock Review – Biotech/Medical Products: XBI (ETF), AMLX, PRTA, BIIB, RYTM, VERV, CINC, INBX, RVNC, SRPT, NBIX, VRTX
5) 16:25 Stock Review – Watch List/General Ideas/Commentary: WWE, IBKR, LTHM, ALB, SWAV, PRCT, CELH, HALO
6) 20:20 Conclusion/Summary

Market Summary:
The biggest positive for the market right now is the improving technicals. In this video, I review how the major indexes are above many key moving averages, and how we’ve seen little distribution over the past two weeks. The two biggest negatives are the hawkish Fed and the lack of growth stocks setting up. We need to wait for more clarity from the Fed after their meeting this Wednesday, November 2nd. We have to be open-minded that they could remain hawkish in their efforts to fight inflation. They could also have a more dovish stance during their press conference. Rather than guessing which one it will be, I prefer to wait for more clarity. Either way, expect more volatility over the next few weeks.

The best way to deal with this potential volatility is to use lighter positions and keep some cash on hand to help cushion potential downside. In recent videos, I’ve discussed using index and sector ETFs to participate until more growth stocks setup. Either way, patience is still required until we get more clarity. My conclusion is to still wait for the market to prove itself better before increasing exposure. If you have any questions or would like me to discuss stocks not covered in this video, you can ask them during the next webinar which will be this Sunday, October 30th at 7PM EST. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
10/28/22 Nasdaq 100 ETF (QQQ) opening sale 3000 June 30th (Q) $265 puts for 20.25
10/28/22 S&P 500 ETF (SPY) Dec $367 puts popular into morning strength with 15K bought near $7.30
10/28/22 Occidental (OXY) seeing 1400 Dec 2nd $72 calls sold to open for $4.20 to $4.00
10/28/22 Eli Lilly (LLY) opening seller 2220 Nov. 380 calls for 3.80
10/28/22 Pfizer (PFE) buyer of 600 Jan 2025 $40 ITM calls at $11.60
10/28/22 Apple (AAPL) size buyer 1500 July $125 ITM calls $36.95
10/28/22 Google (GOOGL) opening sale 1000 Sep. 2023 $105 puts $17
10/28/22 ServiceNow (NOW) seeing 500 May $260 puts sell to open for $10.30
10/27/22 Nasdaq 100 ETF (QQQ) opening sale 1600 June 30th (Q) $260 puts for 18.14
10/27/22 Nasdaq 100 ETF (QQQ) also with a seller 2000 Sep. 29th (W) $250 puts for 18.24
10/27/22 S&P 500 ETF (SPY) Nov. 16th (W) $380 puts with 8500X bought today for $7M
10/27/22 Devon Energy (DVN) with 2800 December 70 puts selling to open for 2.94
10/27/22 Devon Energy (DVN) also with 3000 Nov. 25th (W) $90 calls bought 0.86
10/27/22 Conoco (COP) buyers 700 May $120 calls 20.50 offer
10/27/22 Occidental (OXY) buyers of 1100 Dec 2nd (W) $70 calls ITM near $6.95, also seeing seller of 6000 Dec $60 puts
10/27/22 Seagen (SGEN) buyer of 1300 December $155 calls for $2.60 to $3
10/27/22 Tesla (TSLA) seeing buyers active 3000 Nov 11th (W) $230 puts for over $4.5M
10/27/22 Apple (AAPL) 1500 Nov 11th (W) $152.5 puts sold to open 8.15
10/27/22 Amazon (AMZN) with 2500 Sept 2023 $95 puts sold to open $9.50
10/27/22 Google (GOOG) size late day buyer 10,000 January 2024 $87 calls ITM $20.20 offer
10/27/22 Meta (META) size late day buyer 6000 June 2024 $90 calls ITM $32.50
10/27/22 Microsoft (MSFT) large buyer steps in late day 3000 Sep. 2023 $200 calls for $47.95