Topics covered:
1) 0:00 Announcements
2) 0:25 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 7:00 Stock Review – Energy: XLE (ETF), OIH (ETF), XOP (ETF), FANG, EOG, DVN, HP, APA, CPE
4) 9:00 Stock Review – Watch List/General Ideas/Commentary: ACAD, SRTS, SMH (ETF), MU, PANW, NARI, SWAV, PCRX, SRRA, NMM
5) 12:55 Conclusion/Summary

Market Summary:
Reviewing the price action so far this week: Monday – It was nice to see an accumulation day and some growth stocks acting better. As I mentioned on the Monday Webinar, the market still needs to prove itself and there are very few growth stocks setting up. Tuesday – We saw a higher volume down day, so I emailed all the members reminding you to be patient. I don’t like to see heavy distribution immediately following an accumulation day. Wednesday – Today was a decent day, however it occurred on light volume and we are running into the 21-day moving average, which has been resistance recently for the Nasdaq Composite. Conclusion: Remain defensive, be patient, and give the market time to prove itself.

In this video, I review some stocks acting well (they are mostly in the Energy and Commodity-related sectors). I also review some stocks potentially working on new bases, but I’m just going to observe them for now and see if they continue to build proper bases. If you are going to trade anything, the same principles apply: Use light positions, at least trade stocks in uptrends (not downtrends), get strong entry points, and manage risk (meaning stick to a loss cutting discipline if anything turns against you). I remain approximately 20% invested in some light positions and I’m in no rush to commit capital until we see the 5 factors needed before I’ll be confident in a new, SUSTAINED uptrend. I’ve reviewed those 5 factors in previous videos and I mention them again in this video. Thank you and good luck for the remainder of the week.

Unusual Option Activity
3/2/22 Union Pacific (UNP) seeing 2050 August $265 calls bought $11.10 to $11.65
3/2/22 Apache (APA) buyer of the April $42.50/$50 call spread today 1000X for $1.45 into strength
3/2/22 Apache (APA) also seeing 1000 January $47.50 calls bought today from $5.05 to $5.20
3/2/22 Altria (MO) with 5500 April $57.50 calls bought $0.21 to $0.23 as March $55 adjust
3/2/22 Russell 2000 ETF (IWM) buyer of the August $240/$260 call spread today 2000X4000 for $0.95
3/2/22 Workday (WDAY) the March 2023 $230 puts being sold to open this morning 500X for $30.10
3/2/22 Apple (AAPL) opening sale 1000 March 2023 $200 puts deep ITM for $41.95
3/2/22 Datadog (DDOG) buyer of 1000X1250 June $175/$220 call spreads for $10.18
3/2/22 Applied Materials (AMAT) with 1500 January $185/$105 bull risk reversals trading for $3.05 credit
3/2/22 Palo Alto Networks (PANW) large opening sale of 300 January 2024 $560 puts for $97, over $3M
3/1/22 Union Pacific (UNP) bought 2100 March $245 calls $5.60 and 2100 May $245 calls $11.90
3/1/22 Conoco (COP) buyer of 3500 April $105 calls for $2.63 as 4K of the March $100 calls adjusted
3/1/22 Freeport McMoran (FCX) with 6000 June $49 calls opening $5.45 as the $44 calls adjust
3/1/22 Baker Hughes (BKR) opening sale 2000 July $25 puts for $1.45
3/1/22 AbbVie (ABBV) with 2,000 of next week’s $148 calls bought today from $2.83 to $2.95
3/1/22 Occidental Petro (OXY) with 6400 May $55 calls bought with 10,000 April $50 calls also active with buyers
3/1/22 Occidental Petro (OXY) also buyers of 2,500 March $49 calls for $1.96
3/1/22 Schlumberger (SLB) seeing 3,500 March 25th (W) $42 calls bought for $0.70 to open
3/1/22 Tesla (TSLA) with 6000 January 2024 $1650 calls opening as the January 2023 $1125 calls close
3/1/22 Nasdaq 100 ETF (QQQ) with a large opening trade for 12,500 September $352 calls $23.76 as June $350 calls adjusted
3/1/22 Chevron (CVX) with nearly 5,000 May $155/$130 bull risk reversals opening for $3.05 into strength with their Investor Day
2/28/22 Blackstone (BX) late day buyers 1500 March $127 calls $4.80 to $5.10
2/28/22 Google (GOOG) with 2,450 June 2023 $4500 OTM calls bought today for $28 to $29
2/28/22 Mosaic (MOS) opening sales of 1750 March $49 puts for $1.90 today
2/28/22 Peabody Energy (BTU) with 5,000 March $19 calls opening today for $0.73, adjusting the $18 calls higher
2/28/22 Lockheed Martin (LMT) seeing 850 March $410 puts sold to open $6.40 to $6.20
2/28/22 Schlumberger (SLB) with 3,650 April 1st (W) $33 puts sold to open today for $0.51 to $0.52
2/28/22 Gold ETF (GLD) opening sale 2000 June $178 calls for $6.85 bid
2/28/22 Visa (V) IV rising as shares move off afternoon lows with 3500 May $220 calls being bought $10.30 to $10.95
2/25/22 Chevron (CVX) large buyer of 2000 January 2024 $145 calls for $15.92 to $16.30
2/25/22 Mosaic (MOS) buyer of 750 January 2024 $55 calls for $10.15