CNBC Interview from Thursday: https://www.youtube.com/watch?v=uH8rjmOA-HI
MarketWatch article: https://www.marketwatch.com/story/even-if-stocks-rise-in-the-months-ahead-the-market-has-limited-upside-potential-11649863266

Topics covered:
1) 0:00 Announcements
2) 1:00 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 8:30 Stock Review – Energy: XLE (ETF), OIH (ETF), XOP (ETF), APA, DVN, EOG, FANG, MUR, SLB, BKR, TDW, LPI, PTEN, VET, WLL, OAS
4) 15:35 Stock Review – Commodity Related: AMR, ARCH, ARLP, CEIX, ATI, CENX, NUE, LXU
5) 21:15 Stock Review – Software Security: SAIL, MNDT, PANW, CRWD, QLYS, PING, FTNT, RDWR
6) 24:00 Stock Review – Big Pharma/Medical Products: LLY, VRTX, REGN, BMY, PFE, SWAV, PRCT, INSP, CORT, HRMY
7) 30:00 Stock Review – Relative Strength Watchlist: ITCI, FLR, COST, EXR, PSA, LSI
8) 33:10 Stocks near buyable ranges: OXY, DRQ, SM
9) 36:30 Conclusion/Summary

Market Summary:
It’s always important to be open-minded when analyzing the market. Be flexible in your approach and look at both the positives and the negatives. The biggest negative right now is the hawkish Fed. As I’ve mentioned several times, I don’t see any sustained upside until they are done with (or at least pause) their current rate hiking cycle. Another negative is the ongoing geopolitical tensions between Russia and Ukraine. A third negative is that all the major indexes are below their 200-day moving averages, which is clearly a sign that the market is not healthy. The biggest positive is that many stocks are acting well, but they are mostly coming from the Energy and Commodity-related sectors.

Conclusion: Stay defensive! By defensive, I mean raise some cash and use lighter than normal positions to help deal with the higher volatility. As I wrote in recent Market Summaries, only expose yourself to the best stocks, get strong entry points, and manage risk when wrong. I can’t stress this enough: You just have to be patient until we get through this current correction. When it’s over, there will be tremendous opportunities, especially in the tech stocks that most people like to trade. Until then, remain patient and do your best to protect capital. If you have any questions, you can ask them during the next webinar, which will be Monday, April 18th at 7:30PM EST. The link for this webinar can be found in the email that was sent on April 12th. Thank you and enjoy the rest of your holiday weekend!

Unusual Option Activity
4/14/22 Fluor (FLR) the January $27.50 ITM calls bought for $6.38 to $6.40, some April calls adjusting out
4/14/22 Cameco (CCJ) with 4000 May $27 puts sold to open near $0.75
4/14/22 NOV (NOV) the May $22 calls being bought over 7,000X for $0.60 to $0.70
4/14/22 Mosaic (MOS) with 1250 December $110 calls bought for $4.80 today, far OTM
4/14/22 Vertex Pharma (VRTX) seeing 1500 Octo $230 puts sold to open for $5.90 to $6, willing buyer back around the Feb lows
4/14/22 Occidental (OXY) buyers of 5000 April 29th (W) $64 calls for $0.99 to $1 to open, follows the July flows yesterday
4/14/22 Occidental (OXY) also with 2000 June $57.50 puts sold to open between $4.95/$5
4/14/22 Peabody Energy (BTU) with 2000 May $30 puts sold to open today for $2.85
4/14/22 DataDog (DDOG) with 1,500 July $90 puts sold today from $2.69 to $2.63 to open
4/14/22 Palo Alto (PANW) with 925 Sept $500 ITM calls bought for $149 to $153 to open, around $13M in premium
4/13/22 Walmart (WMT) with 3,500 December $135/$130 bull put spreads opening for $0.85
4/13/22 Freeport McMoran (FCX) buyers of 4000 May 6th (W) $54 calls from $0.80 to $0.85
4/13/22 Amgen (AMGN) with buyers of 1200 May $250 calls for $8.75 to $9
4/13/22 Diamondback (FANG) buyers of 9000 July $160 calls for $6.80 to $6.90 to open, some April calls adjusting up and out
4/13/22 Airbnb (ABNB) with 1000 May $170 puts sold to open today near $12 as the $160 strike adjusts back
4/13/22 Marathon Oil (MRO) with over 25,000 July $27 calls bought for $2.50, adjusting out of some April calls
4/13/22 Cameco (CCJ) buyers of 1275 July $36 calls up to $2 to open, as the name keeps seeing bullish flows
4/13/22 Occidental (OXY) with buyers of the July $65 calls for $4.35, over 1600X
4/13/22 Occidental (OXY) also with buyers in size for 12,000 July $70 calls from $3.05 to $3.10
4/13/22 Salesforce (CRM) opening sales of the Oct $135 puts today from $3.80 to $3.65, over 1750X
4/12/22 Nucor (NUE) with 500 January $135 puts sold to open for $12.90
4/12/22 Tractor Supply (TSCO) buyers of 650 July $260 calls as the April $220 calls adjust up and out