Topics covered:
1) 0:00 Announcements
2) 0:20 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:20 Stock Review – Energy: XLE (ETF), CVX, XOM, XOP (ETF), COP, DINO, DVN, MPC, MRO, MTDR, EOG, FANG, HES, SLB, LNG, EPM
4) 14:40 Stock Review – Watch List/General Ideas/Commentary: XBI (ETF), AMLX, CINC, RVNC, PLRX, BIIB, PRTA, INBX, VRTX, CCRN, SGML, WWE, SWAV
5) 21:10 Conclusion/Summary

Market Summary:
In this video, I review the technicals since the inflation (CPI) report on Thursday, October 13th. Since then, the market has absorbed the higher than expected inflation report, we’ve seen accumulation beneath the surface, and we had a Day 7 follow through day on Friday, October 21st. In addition, we have seen no distribution days on the Nasdaq Comp since that CPI report. It doesn’t mean we are out of the woods, but it’s definitely a step in the right direction for the bulls. Another positive is that all the major indexes closed above their 21-day EMAs. From here, I would like to see the Nasdaq Comp and S&P 500 do what the Dow Jones Industrial Average is doing. Specifically, see them hold above their 21-day EMAs, see no distribution, and then have additional follow through to get them closer to their 50-day moving averages.

One of the biggest negatives is the lack of growth stocks setting up. In preparing for the video, I reviewed close to 1,000 stocks and the majority of stocks looking good are from the Energy-related sectors. If the market continues to prove itself over the next week or two, we should hopefully see more growth stocks acting well. Again, patience is required and I am still expecting volatility over the near-term, but the overall price action this past week was definitely progress. If members have had a heavy cash position and are looking to put money to work, I’m ok with slowly increasing exposure through Index and/or Sector ETFs. I would still keep these positions light until hopefully some growth stocks setup soon. Thank you and enjoy the remainder of your weekend.

Unusual Option Activity:
10/21/22 Regional Banks ETF (KRE) buyers 10,000 March 50/40 put spreads
10/21/22 Valero (VLO) with 1000 November $125 puts sold to open 6.70
10/21/22 Occidental (OXY) big buyer of 10,000 March $75 calls at $8.25
10/21/22 10X Genomics (TXG) with 1125 Nov $30 puts opening $6.30 as Oct $35 adjust
10/21/22 Staar Surgical (STAA) buyer 1000 November $75 puts $10.40 as Oct. 80 puts adjust
10/21/22 Biogen (BIIB) opening sale 400 January $285 puts for 36.20
10/21/22 Merck (MRK) opening seller of 5300 June $100 calls for $5.47
10/21/22 Apple (AAPL) Nov 11th (W) $140 calls with 8000X trading near $9
10/21/22 Amazon (AMZN) buyers active Nov. 11th (W) $123 calls $3.75′
10/21/22 Amazon (AMZN) also with a block of 6000 December 80 puts sold to open 0.71
10/21/22 ON Semi (ON) buyer 1800 April $60 puts $8.10 offer
10/21/22 Microsoft (MSFT) opening seller 1700 December 205 puts for 3.70
10/20/22 Nasdaq 100 ETF (QQQ) large buy 2500 Dec 2023 $285 calls $36.08 today spread vs. the $330 calls
10/20/22 Energy ETF (XLE) with 3950 June 2024 110 calls bought $7.34 to $7.45
10/20/22 Snowflake (SNOW) sells 1000 Jan 2024 $110 puts for $16.50 and buys 1000 of the $180/$250 call spreads for $24
10/20/22 Semiconductor ETF (SMH) opening seller 1500 January 165 puts $8
10/20/22 HF Sinclair (DINO) strong name and 1000 Dec $60 calls bought at $5 offers
10/20/22 Microsoft (MSFT) opening seller of 3000 Dec 2nd $270 calls for $2.15
10/19/22 Semiconductor ETF (SMH) seeing 24,000 December $205 calls bought at $3.55 to $4
10/19/22 Sarepta (SRPT) opening seller 1250 Jan 2024 $115 puts for $30
10/19/22 Nasdaq 100 ETF (QQQ) 2250 February $265 puts selling to open 15.92 bid
10/19/22 EOG Resources (EOG) buyers 1500 Nov $150 OTM calls $1 offer after upgrade this morning
10/19/22 Diamondback (FANG) buyer 900 December 130.35 puts for $6.60
10/19/22 Datadog (DDOG) with 600 January 2024 $60 puts sold to open $11.40 to $11.30
10/19/22 Taiwan Semi (TSM) opening sale 2500 Nov. 11th (W) 58 puts for 1.04