Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:30 FOCUS LIST: WING, HALO, CELH, PI
4) 10:40 Stock Review – Semiconductors: SMH (ETF), ACLS, LSCC, RMBS, MBLY, ASML, KLAC. NVDA, MTSI, AEHR, GFS
5) 13:50 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), XOM, SLB
6) 15:30 Stock Review – Biotech: XBI (ETF), IBB (ETF), AXSM, PRTA, AMLX, FDMT, PCVX
7) 17:10 Stock Review – Medical Products: UTHR, INSP, DXCM, PODD, MMSI
8) 19:05 Conclusion/Summary

Market Summary:
In the past month of videos, one of the positives I’ve mentioned is the improving price action of the major indexes. Unfortunately, in the past week or so, I’ve noticed weaker price action. This includes stalling into resistance, distribution, and breaking down below recent ranges. The indexes haven’t necessarily broken down or fallen apart, but I review examples of the recent weakness in this video. The main negative continues to be the uninspiring price action of growth stocks. While screening, I look for tight price action that could provide safer entry points, and right now, I’m not finding any. In addition, I review in this video how many stocks would see better follow through to the upside if this was a healthier market.

The conclusion is the same: remain defensive and be patient. The other negative in the market is the Fed is still raising interest rates and taking liquidity out of the system. Their main objective is to fight inflation. We will definitely get a clearer picture of their stance after the CPI report this Tuesday and Fed meeting on Wednesday. They are expected to raise rates by 50 basis points at their upcoming meeting, but the subsequent press conference will give us better clarity. Again, I am defensive but not overly bearish. I am open to the market being in a range for while, but it could also go lower if inflation remains hot. Most importantly, I want to see the price action in growth stocks improve. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
12/9/22 S&P 500 ETF (SPY) with 4300 April $375 puts bought for $13.00
12/9/22 S&P 500 ETF (SPY) also with buyers of 10,000 January $396 puts at $11.44
12/9/22 Nasdaq 100 ETF (QQQ) with a large block of 17,000 March 31st $230 puts sold to open for $3.24
12/9/22 Gold ETF (GLD) seeing 7000 Jan 2024 $192 calls bought $7.60, adjusting the $195 calls
12/9/22 Tesla (TSLA) seeing 3300 Jan 2024 $396.67 calls sold to open for $7.35
12/9/22 Tesla (TSLA) with 1300 of the September $173.33 puts sold to open for $30.20 today
12/9/22 Netflix (NFLX) into 4% upgrade pop with 2000 February $305 puts bought $21.80
12/9/22 ConocoPhillips (COP) buyer of 500 Jan 2025 $100 puts at $18.60, adjusting the Jan 2024 $125 puts lower
12/9/22 Eli Lilly (LLY) opening sale for 450 Jan 13th $390 calls for $4.30
12/9/22 ON Semi (ON) buyer 1450 February $70 puts $5.65
12/9/22 Coupa Software (COUP) 1000 March $45 puts sold to open 2.15 bid
12/9/22 Palo Alto (PANW) with 1500 January 2025 $140 calls sold to open $52.10
12/9/22 Palo Alto (PANW) also with 4500 January 2025 $140 puts sold to open $20.30
12/9/22 Intel (INTC) opening seller of 700 Jan 2025 $37.50 ITM puts for $10.90
12/9/22 Texas Instruments (TXN) seeing 825 Jan 13th $185 calls sold to open $2.71, adjusting the Dec $190 short calls
12/8/22 Homebuilders ETF (XHB) buyer 11,450 March $55/$40 put spreads for $1.57
12/8/22 Healthcare ETF (XLV) with 14,500 June $125 puts bought 2.70 as March 120 adjust
12/8/22 Energy ETF (XLE) buyer 4500 February $93/$96 call spreads
12/8/22 Exxon (XOM) with 6000 December $101 puts bought early $0.75
12/8/22 Chevron (CVX) buyer 1000 Dec. 30th (W) 177.50 puts 7.10 to 7.15
12/8/22 Array (ARRY) buyer 400 July $20 calls $5.60 offer
12/8/22 Merck (MRK) with 1500 January 2024 $135 calls bought $3.60
12/8/22 Merck (MRK) also a buyer of 600 June 2024 $120 calls at $10.30
12/8/22 Lattice Semi (LSCC) put buyers unusually active early with December and January $65 put buys
12/8/22 Palo Alto (PANW) buyer of 490 March $160 calls at $16.30, adjusting Dec calls
12/8/22 Amazon (AMZN) seeing 2000 September 2024 $50 puts sold to open $2.95
12/8/22 Taiwan Semi (TSM) seeing 1400 Jan. 2025 $65/$90 call spreads bought