Topics covered:
1) 0:00 Announcements
2) 0:55 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 13:50 Stock Review – Biotech: XBI (ETF), IBB (ETF), ACLX, AXSM, AMLX, RYTM, FDMT, BTAI, VTYX, CINC
4) 19:00 Stock Review – Energy: OIH (ETF), HAL, SLB, TDW
5) 20:00 Stock Review – Watch List/General Ideas/Commentary: ACLS, KLAC, UTHR, AXON, MRK, AZN, ABBV, BOX, AYX, SPLK
6) 23:45 Conclusion/Summary

Market Summary:
In recent videos, I discussed the range forming in the S&P 500. The weekly chart was showing tight closes (which could be a sign of accumulation), but I wanted to see the index prove itself before increasing exposure. I was speculating that we would break below this range because there were very few stocks setting up and most strength was getting sold into. This week showed signs of improved technicals, as the index closed above its 21-day EMA, but it’s still below its 50-day and 200-day. This week was also a step in the right direction with a Day 6 follow through day on the Nasdaq Composite and Russell 2000, and the MidCap 400 (MDY) and Dow Jones (DIA) regained their 50-days. However, we are by no means out of the woods. We should get more clarity this Thursday, January 12th when the CPI (inflation) report is released before the market open.

I slightly increased my investment exposure this week by getting back into XBI and adding some other light positions. If market conditions continue to improve, I will continue to add, but for now, I am still leaning defensive. As always, I encourage members to make decisions based on your own investment objectives and risk tolerance. In this video, I discuss some valuable takeaways from my appearance on IBD Live. It was a great reminder to stay positive, and as I’ve been telling members for a while, there will be some great opportunities coming out of this bear market. If you have any questions or would like me to review stocks not covered in this video, you can ask them during the next webinar which will be this Monday, January 9th at 7PM EST. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
1/6/23 China Internet ETF (KWEB) opening seller 4500 August $38 calls for $3.90
1/6/23 Tesla (TSLA) size opening buy 25,000 April $80 calls for $38.30
1/6/23 Netflix (NFLX) seeing 1600 June $195 puts sold to open $4.45
1/6/23 Lowes (LOW) with 1250 June $150 puts selling to open 3.35 bids
1/6/23 Wynn Resorts (WYNN) seeing 1000 Jan 2024 $115 calls bought at $12.30
1/6/23 Occidental (OXY) opening sale for 1250 August $80 calls at $3.45
1/6/23 Halliburton (HAL) opening seller 2500 January 39.50 puts $0.97
1/6/23 Revance Therapeutics (RVNC) with 15,000 April $22.50 short puts adjusting the July $17.50
1/6/23 Rhythm Pharma (RYTM) large opening sale of 2000 April $30 puts sold at $4.40
1/6/23 GlaxoSmithKline (GSK) with sweep buyers for 5000 Feb 3rd $35 calls at $1.05, captures earnings
1/6/23 Freeport McMoran (FCX) calls hot again today with 5000 Feb $44 calls bought as some Jan. are adjusting
1/6/23 Nvidia (NVDA) seeing 600 June 2025 $180 calls sold to open $40.15, adjusting Jan 2025 short calls
1/6/23 Advanced Micro (AMD) with 2000 Sept $65 calls sold to open $9.35, looks to be bear call spreads with the $100 strike
1/5/23 Nasdaq 100 ETF (QQQ) large bull trade sold 10,000 Mar. 31st (Q) $255 puts for $10.09 and bought 10,000 June $275 calls for $15.87
1/5/23 Tesla (TSLA) buyer 800 January 2024 $125 calls for $24.95
1/5/23 Wynn Resorts (WYNN) with 2500 Jan. 27th (W) $93/$105 call spreads bought as January adjust
1/5/23 Dexcom (DXCM) spreads selling 1000 June $115 calls to open and buying March $95/$90 put spreads
1/5/23 Cardinal Health (CAH) large opening sale 1500 January 2024 $72.5 puts for $5.95
1/5/23 AbbVie (ABBV) with 10,000 February $150 short puts opening $1.52 as January adjust
1/5/23 Pfizer (PFE) with 20,000 February $45 puts sold to open $0.585
1/5/23 Merck (MRK) size buyers today of 5500 June $115 puts $7.45 to $7.55 into new highs
1/5/23 Alibaba (BABA) opening seller 1000 Jan. 27th (W) $99 puts sold to open $4.35
1/5/23 Google (GOOGL) block of 3000 March $70 puts sold to open $1
1/5/23 Texas Instruments (TXN) size buyer 1250 Jan 2024 $175 calls $18.65 offer into sharp drop
1/5/23 Amazon (AMZN) block of 8000 April $70 puts sold to open for $2.89
1/5/23 Amazon (AMZN) also block of 2500 Sep. 2023 $66 puts sells to open $4.30
1/5/23 S&P and Russell ETFs (SPY, IWM) Feb puts continue to adjust around with SPY Feb $362 trading 37,500X early and IWM trading 44,000 of the Feb $166