Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:50 Stock Review – Energy: XLE (ETF), OIH (ETF), XOP (ETF), FANG, EOG, APA, HP, MPC, HAL, TDW, SM, MP, NUE
4) 17:00 Stock Review – Semiconductors: NVDA, ACLS, GFS, AOSL, ON
5) 20:30 Stock Review – Big Pharma: LLY, VRTX, BMY, REGN, AZN
6) 21:50 Stock Review – Relative Strength Watchlist: BROS, CLH, IRTC, PANW, PCRX, EVH, HRMY, ITCI, SRRA
7) 24:40 Stocks near buyable ranges: SG, DAC, DVN, TSCO, ORLY, LNTH, RES
8) 28:10 Conclusion/Summary

Market Summary:
In this video, I review the price action since the recent lows and combine it with the notes I emailed to members on Tuesday. The bottom line is that the strength we’ve seen over the past 2-3 weeks bodes well for the market over the next 6 to 12 months. Over the near-term, I wouldn’t be surprised to see a range/consolidation form to digest the recent gains. I could see the market holding up over the next few weeks as many positive factors are coming up. They include: earnings season (where the news shifts from geopolitical to more fundamental headlines), beginning of the month and quarter (where new money tends to flow into the market), the April 15th IRA contribution deadline (which could see additional flows), and the Fed is out of the way until their next meeting on May 4th.

Of course, I will continue to take this day-by-day, but I like how the big institutions have consistently come back into this market (as discussed in the Tuesday Market Note) and many stocks are slowly starting to work. In this video, I review many watchlists and stress the importance of getting strong entry points. Please don’t chase extended stocks. If this rally is for real and the market consolidates well over the next few weeks, there will be plenty of handles formed and many stocks will provide strong entries soon. As always, know your timeframe and manage risk around your positions. Thank you and good luck for the remainder of the week!

Unusual Option Activity
3/30/22 Biotech ETF (XBI) spread sold 10,000 June $88 puts for $3.85 and bought 10,000 June $100 calls at $3.85
3/30/22 Devon Energy (DVN) opening seller 4000 April $61 puts for $2.67
3/30/22 Diamondback Energy (FANG) seeing some April $130 calls close to buy 3,950 May $150 calls for $6.60 and 4,500 of the $155 calls for $5.60
3/30/22 Occidental (OXY) with 1500 July $57.5 calls bought $7.20 to $8 range this morning
3/30/22 Tesla (TSLA) 2000 April 29th (W) $1150 calls are bought near $54 in large lots
3/30/22 AstraZeneca (AZN) with 1000 January $65 puts sold to open early for $5 to $4.95
3/30/22 Texas Instruments (TXN) with 500 September $190 puts sold to open for $15.10
3/29/22 Nasdaq 100 ETF (QQQ) buyers of 7000 Sept $365 calls for around $20M while 22,000 of the $330 puts being sold to open for $25M
3/29/22 Apple (AAPL) large late-day sellers of 14,250 May 6th (W) $180 puts for $7.10 to $7 to open today
3/29/22 Tesla (TSLA) July $1950 OTM calls with 2000 bought $12.25 to $12.55
3/29/22 Marathon Petroleum (MPC) with 4000 April $87.50 calls bought $0.47 to $0.57
3/29/22 Palo Alto Networks (PANW) opening buyers of 400 June $640 calls for $36.90 to $38.10
3/29/22 Evolent Health (EVH) buyer of 850 May $30 calls for $3.10
3/29/22 Apache (APA) buyer 2000 April 22nd (W) $43 calls 0.82
3/29/22 Intra-Cellular (ITCI) with 4500 April $75 OTM calls bought for $0.50 to $0.70
3/29/22 Occidental (OXY) buyer of 1000 July $57.50 calls today for $5.60 to $6.30
3/29/22 Occidental (OXY) also with 4000 May $57.50 calls opening for $4.20
3/29/22 Cutera (CUTR) with 2250 May $55 calls opening $11.50 as Sep. $50 calls close 1500X
3/29/22 Freeport McMoran (FCX) with 5000 July $34 puts sold to open $0.59
3/29/22 Allegheny Tech (ATI) late day buy 1500 May $25 calls $2.75 to $2.80
3/29/22 Avita Medical (RCEL) with another 2,000 October $7.50 calls opening today for $3.20 and spread with the $15 calls sold for $1
(follows bullish flow yesterday in the small-cap $196M regenerative medical products company)
3/28/22 Schlumberger (SLB) buyer this afternoon of 2,750 January $50/$60 call spreads for $1.95
3/28/22 Occidental (OXY) buyers in the July $57.50 calls today, 500X, up to $6.65
3/28/22 Global Foundries (GFS) with 3000 May $40 puts sold to open today for $0.70/$0.65
3/28/22 EQT Corp (EQT) with a buyer of 2000 June $37/$44 call spreads
3/28/22 Avita Medical (RCEL) with 2500 October $7.50 calls opening for $3.30 in an unusual large trade.
3/28/22 Digital Ocean (DOCN) with opening sellers of 2500 May $60 puts near $8.90
3/28/22 Tesla (TSLA) calls active seeing 3000 July $1800 OTM calls with buyers, 2000 each of August $1000 and $1050 calls, and 1400 August $2000 calls