Topics covered:
1) 0:00 Announcements
2) 0:35 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 4:05 FOCUS LIST: XBI (ETF), CELH, SWAV, PRCT
4) 6:10 Stock Review – Watch List/General Ideas/Commentary: LNTH, TMDX, AXNX, EVH, GH, PRVA, NBIX, XENE, CYTK
5) 8:15 Stock Review – Watch List Continued: PI, ACLS, PLAB, MPWR, ON, ALB, LTHM, CF, OXY, DVN
6) 11:30 Conclusion/Summary

Market Summary:
In the MidWeek Video (8/17), I was expecting a pullback in the major indexes at least down to their 21-day moving averages and possibly down to their 50-day. As the pullback occurred to the 21-day, the volume was very light and the leaders were acting well. I thought the markets would stabilize around that area and start to head higher, but Fed Chair Powell’s hawkish remarks on Friday caused the market to move lower. Three positives last week: 1) All the major indexes dropped on lighter volume than the previous week. 2) Many of the leaders continue to act well, as some were up between 10-15% this week. 3) Sentiment is very negative. The two biggest negatives: 1) The Fed is still raising rates and determined to fight inflation. 2) The major indexes are still below their 200-day moving averages.

My conclusion is the same. I’m going to stay focused on the strongest stocks out there while also keeping some cash in case the market moves lower. I wouldn’t be surprised if we see continued selling at the beginning of the week, and then find support near the 50-day moving average. Keep in mind this is a week prior to a long holiday weekend here in the US. We tend to see the sellers come in at the beginning of the week, leave for vacation early, and then the market tends to trend higher into the long weekend. One final announcement, the webinar for this Monday, August 29th has been cancelled due a death in my family. I sincerely appreciate everyone’s patience and understanding until things get back to normal for me. Thank you again and enjoy the remainder of your weekend.

Unusual Option Activity:
8/26/22 Amazon (AMZN) buyer 6000 Oct 140./160 call spreads as Sep 145 calls adjust
8/26/22 Tricida (TCDA) buyer of 3000 November $12.5/$25 call spreads for $3.60
8/26/22 Axsome Therapeutics (AXSM) seeing 1450 October $65 calls open for $1.65M as September adjust
8/26/22 Energy ETF (XLE) buyer 10,000 December $80/$70 put spreads
8/26/22 Tesla (TSLA) buyer of 1000 December $295 calls for $36
8/26/22 Nvidia (NVDA) bid-side sellers of 2400 Sep. 30th (W) $155 puts today up to $5.10
8/26/22 Alphabet (GOOGL) two blocks of 5000 November $117.50 calls bought this morning into weakness
8/26/22 Ark Innovation ETF (ARKK) with 16,500 Oct. $43 puts opening this $3.55
Continue to see Sep./Oct. put accumulation there since mid-August
8/25/22 S&P 500 ETF (SPY) big opening seller in November 386 puts today 5000X near 7.81
8/25/22 AstraZeneca (AZN) seeing 1270 October $60 ITM calls bought $8.75 offers
8/25/22 Cheniere Energy (LNG) buyer 1000 January $180 calls for $13.51
8/25/22 On Semi (ON) 725 February $985 calls are bought 4.60 to 4.90
8/25/22 Amazon (AMZN) 2300 November 127 puts sell to open 6.36
8/25/22 Nvidia (NVDA) with 1100 November $175 calls bought up to 16.05
8/25/22 Tesla (TSLA) seeing 3000 October $250 puts sold to open down to $9.30
8/25/22 Occidental (OXY) sale to open 1350 January 2024 $80 puts for $19
8/25/22 Exxon (XOM) with 10K December 120 calls sold to open 1.41
8/25/22 Guardant Health (GH) with 1000 Oct. $60 calls sold to open 3.40 to 3.20
8/25/22 Texas Instruments (TXN) a block of 10,000 December $200 calls sold to open at $2.65