Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:15 Stock Review – Watch List/General Ideas/Commentary: XRT (ETF), ATI, MT, TX, NUE, INMD, ORGO, CDMO, LYFT, MDXG, ANGO, GMBL, IDYA, MU, WDC, STX
4) 14:35 Conclusion/Summary

Market Summary:
As I mentioned in recent videos, there have been some mixed signals in the market. The major indexes were above their 50-day moving averages, but many leaders were starting to break down. Whenever the market gives us these mixed signals, I will always lean towards the defensive side just in case the market breaks down further. I discussed in recent videos and memos to raise some cash, cut losses on any stocks that are significantly below their 10-weeks, and to use light positions on any new buys. On Monday, we saw a strong bounce in the market, but unfortunately, it occurred on light volume. From there, the market reversed on Tuesday and then we saw follow through selling on Wednesday on heavier volume. The conclusion: STAY DEFENSIVE!!!

I’m by no means bearish. I’m simply encouraging members to stay defensive until market conditions improve. It’s best to protect capital, protect your confidence, minimize your position size, raise some cash, exercise patience, and keep a watch list. In these videos, I will continue to provide a list of stocks that are holding up well. I am confident that I will help you to identify the next uptrend and some great leading stocks that will emerge out of it. Again, the key is to be patient until that happens. Good luck for the remainder of the week.

Unusual Option Activity
3/3/21 Seagate (STX) the June $72.5 calls 1345X and April $75 calls 1430X with buyers
3/3/21 Pinduoduo (PDD) with 1950 March $185 calls bought $6.30 offer into afternoon weakness
3/3/21 Oneok (OKE) aggressive buyer of 1400 October $50 calls $5.30 offer
3/3/21 STAAR Surgical (STAA) with 400 January $100 puts sold to open $21.50
3/3/21 Wynn Resorts (WYNN) buy 1000 June $140 calls for $14
3/3/21 Carnival (CCL) opening sales of the July $30 puts today for $5.95, over 1350X
3/2/21 PayPal (PYPL) opening sale 1000 July $340 calls $8.70
3/2/21 Nautilus (NLS) size aggressive buyer 1500 October $22.50 calls $5.40 offer
3/1/21 Draft Kings (DKNG) with 1,500 March $64 calls being bought early $4.25 to $4.50
3/1/21 US Steel (X) with 1,700 ITM May $14 calls bought up to $4.75
3/1/21 Lyft (LYFT) with 2000 January 2023 $45 puts sold to open for $9.20