In this video, I reiterate my bullish outlook into the election. The main reasons include: 1) Very little distribution 2) The major indexes are holding their key support levels 3) The leaders continue to act well and 4) The Fed continues to provide an equity friendly environment. I also think President Trump will do everything in his power to get re-elected. This will include keeping the stock market propped up through various tax cuts and keeping pressure on the Fed. In fact, there’s been talk of more stimulus to be announced at the Fed’s upcoming September 15-16 meeting (as if the market needs more steroids, lol). I don’t argue with it, I’m just trying to take advantage of it.

Of course, we will see pullbacks and shakeouts along the way. That is why I constantly remind everyone to know their timeframe. If you are a longer-term investor, do your best to get strong entry points, stick to your plan, and accept that there will be down days along the way. If you are a trader, I suggest taking profits into strength and having cash available for pullbacks to logical support levels. I will do my best through these videos to remind you when the market is short-term extended, when we are near support, and when we break below support. I will also mention any warning signs (such as distribution) when they come up to keep you on the right side of the market. I didn’t find too many setups in my screening tonight. Short-term, I still expect some backing and filling. I am currently 40% invested and will be looking to add to some stocks (and take some new positions) when they reach the support levels I am looking for. Good luck for the remainder of the week!

Unusual Option Activity:
8/12/20 Microsoft (MSFT) opening sale 1000 February $190 puts $14.62
8/12/20 PayPal (PYPL) with 1200 October $170 puts sold $4.25 bids
8/12/20 Blackrock (BLK) buyer of 525 October $600 calls for $20.90 into late day weakness
8/12/20 Fastly (FSLY) buyer 1300 Aug. 28th (W) $87 calls for $2.70
8/11/20 Adobe (ADBE) with 920 February $290 puts sold to open $8.65
8/10/20 Amazon (AMZN) buyers of 725 February $3,400/$3,700 call spreads, 600 July $3,450/$3,800 call spreads, and 750 November $3,300/$3,600 call spreads
8/10/20 Adobe (ADBE) with 3300 July 2021 $485/$540 call spreads opening and 4,100 March $475/$520 call spreads and 5,100 October $465/$510 call spreads
8/10/20 Facebook (FB) with 6800 December $280/$310 call spreads bought, 6500 of the March $285/$315 call spreads bought and 7500 of the July $295/$320 call spreads bought as large cap tech continues to see massive call spreads open

Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500)
3) 10:25 Stock Review – Mega Caps: AMZN, NFLX, MSFT, AAPL, GOOGL, FB, ADBE, QQQ (ETF)
4) 15:00 Stock Review – Software: COUP, DOCU, AYX, VEEV, OKTA, DDOG, CRWD, FSLY, TWLO, NOW, ZS, ZM, FVRR
5) 19:00 Stock Review – Biotech: IBB, VRTX, ARCT
6) 20:00 Stock Review – Semiconductors: NVDA, LRCX, AMD, TER, MKSI, QRVO, SWKS, SMH (ETF)
7) 22:20 Stock Review – General Ideas/Commentary: PYPL, SQ, NARI, TSLA, BABA, CHGG, EBAY
8) 26:45 Current Setups – ISRG, AEIS, MA, V, Z
9) 29:15 Conclusion/Summary