Some statistics on Q4: https://twitter.com/WayneWhaley1136/status/1708701639836573772

Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 11:25 FOCUS LIST: NVDA, MSFT, ADBE, LLY, NOW, UBER, META
4) 15:25 Stock Review – Software: IGV (ETF), CRM, ORCL, CDNS, SNPS, APP, QLYS, PANW, CRWD, AYX, ESTC, VERX, DUOL, INTU, MANH
5) 20:00 Stock Review – Watch List/General Ideas/Commentary: XLE (ETF), XOP (ETF), SMH (ETF), ONTO, MTSI, ANET, CELH, DELL, CLS, FN, CAMT, QTRX, VRT, PDD, MOD, TSLA, NVO, ETNB
6) 27:25 Conclusion/Summary

Market Summary:
Coming out of the two seasonally weak months of August and September, I am expecting a Q4 rally. The two main reasons are: 1) The recent pullback was mostly on below average volume, telling me the big institutions were not aggressively selling over the past two months. 2) Based on the set up this year, the statistics show the potential for a strong Q4 (see link above). However, we still need the market to prove itself. Specifically, I would like to see more consistent upside volume, more stocks setting up, a follow through day (or two), and for sentiment to reach high levels of bearishness. This last point is already there as many sentiment measures this week and the high level of put buying are showing high levels of fear.

Reviewing this week, we saw a distribution day on Tuesday, which led me to email a Market Note to Members. The purpose of the note was to remind members to be patient until the market proves itself better. We saw signs of this improvement on Friday when the Nasdaq Composite flashed a Day 8 follow through day (FTD). The good news is that the index regained its 21-day moving average. The bad news is that the FTD occurred on below average volume. Nevertheless, it’s a step in the right direction and from here we need to see: 1) Little to no distribution. 2) More stocks setting up. 3) An additional FTD. Again, please be patient until this happens. If conditions continue to improve, there will be plenty of time to make money in Q4. In this video, I review how I sold three positions this week and added two positions. I am currently about 70% invested. If you have any questions, you can ask them during the next webinar, which will be this Tuesday, October 10th at 7PM EST. Thank you and enjoy the remainder of your weekend!

Unusual Option Activity:
10/6/23 Short S&P 500 ETF (SH) rare action in the ETF seeing over 14,000 January $14 calls sell to open at $0.95 to $0.80, would imply higher SPY
10/6/23 Nasdaq 100 ETF (QQQ) seeing over 6000 Oct 27th $359 calls bought for 8.51 to $9.55
10/6/23 Silver ETF (SLV) seeing 3500 Sept 2024 $20 puts bought for $1.97
10/6/23 Real Estate ETF (IYR) large opening sellers of 4000 March $70 puts for $2.28, adjusts some Dec $84 short puts
10/6/23 Sweetgreen (SG) with 1600 Nov $12 calls buy for $0.90 offers
10/6/23 Netflix (NFLX) buyer 1000 Jan 2025 $450 puts for $104.40 adjusting $320 puts
10/6/23 TJX (TJX) opening seller 1330 April 70 puts for 1.12
10/6/23 Home Depot (HD) with 600 Dec $285 ITM calls bought for $15.70
10/6/23 Chevron (CVX) buyer 500 March $165 calls for 9.10
10/6/23 Devon Energy (DVN) with 1000 March $40 puts sell to open for $2.94
10/6/23 Marathon Oil (MRO) seeing 1500 June $23 puts sell to open for $2.09
10/6/23 Citigroup (C) block of 5000 Nov 24th $36 puts sell to open for $0.68, adjusting Oct $39 short puts
10/6/23 Pfizer (PFE) Oct. 13th (W) $34 calls hot with buyers early 7500X near $0.29 offers
10/6/23 Viking Therapeutics (VKTX) buyer 5000 January $15 calls $1.40
10/6/23 Eli Lilly (LLY) with 340 April $670 calls buying at $16.25 to $16.45
10/6/23 Snowflake (SNOW) with December $160/$185 call ratios opening 1560X3120
10/6/23 Nvidia (NVDA) with 1000 Nov $515 calls bought here at $6.80 offers
10/6/23 Nvidia (NVDA) also with 950 April $340 puts sell to open for $13.30 bids
10/6/23 Crowdstrike (CRWD) seeing 1000 Nov $195 calls buy at $2.77, possibly spreading against $200 calls sold
10/6/23 Microsoft (MSFT) buyers of over 3200 November 24th $355 calls for $3.05
10/6/23 Apple (AAPL) opening sellers of 2250 April $140 puts for $2.29 bids
10/6/23 Apple (AAPL) also large buyers of 15,000 Oct $177.50 calls at $3.15 offers
10/6/23 Taiwan Semi (TSM) large opening seller for 680 January 2026 $90 puts for $13.30 bids
10/6/23 Aehr Test Systems (AEHR) down on earnings but dip buyers active for 550 Dec $45 calls at $2.75 offers
10/5/23 Russell 2000 ETF (IWM) large opening sale of over 12,000 Nov $154 puts sold for $0.89 bids
10/5/23 Consumer Staples ETF (XLP) with 8588 Nov $66 puts sell to open at $0.85 bids
10/5/23 Oil Services ETF (OIH) size buys of 5000 January $290 puts $11 to $12
10/5/23 Tesla (TSLA) seeing a large buyer of 2000 Nov 24th $305 calls buy at $6.05 aggressive offers
10/5/23 Wynn Resorts (WYNN) 1000 November 92.5 calls buy to open $3.45
10/5/23 MGM Resorts (MGM) with 4000 March $25 puts sold to open $0.58
10/5/23 Shopify (SHOP) with 1000 Nov. 10th (W) $53 calls opening $3.30
10/5/23 Etsy (ETSY) seller to open 500 January 2026 $60 puts for 14.60
10/5/23 Valero (VLO) buyer 200 March $125 calls ITM $13.65
10/5/23 Boeing (BA) with 5000 Jan 2024 $205 short puts opening $23.72 adjusting Nov short puts
10/5/23 3M (MMM) opening sale 1000 December 90 calls for $3
10/5/23 Microsoft (MSFT) buyer of 1500 Oct. 27th (W) $315 calls $11.40 and $11.85