Link to IBD Live trial: https://get.investors.com/ibd-live/?src=A00616
Link to CNBC Interview on Tuesday, Nov 8th: https://www.cnbc.com/video/2022/11/08/fahmy-were-unlikely-to-see-a-sustained-uptrend.html

Topics covered:
1) 0:00 Announcements
2) 1:20 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 9:15 Stock Review – Energy: XLE (ETF), XOP (ETF), OIH (ETF), SLB, OXY, SM, DVN, GTLS
4) 12:25 Stock Review – Watch List/General Ideas/Commentary: XBI (ETF), AXSM, GFS, HRMY, PI, WING, SWAV, CELH, HALO
5) 17:20 Conclusion/Summary

Market Summary:
In this video, I review some of the main points I’ve discussed over the past few months: 1) We’re unlikely to see any sustained upside in the market until the Fed verbally announces they will stop or pause their current rate hiking cycle. 2) It doesn’t mean we have to go lower. The market can stay in a range, especially because negative sentiment can lead to short-term bounces. 3) Be open-minded that the market could head lower. The technicals are still very weak and any unforeseen event could lead to another leg down.

The conclusion is the same: Be patient and stay defensive! By defensive, that means: 1) Keep a higher than normal level of cash. 2) If you are going to trade, use stronger stocks (I prefer that members don’t trade). 3) Get strong entry points and do NOT chase extended stocks. 4) Use lighter than normal position sizes. 5) Make sure to stick to your stops if a position turns against you. Use that 10-week moving average as your guide. 6) Use ETFs (both index and sector ETFs) to minimize single stock risk.

I’m still not finding many growth stocks setting up, and to be honest, the price action in the majority of them is garbage right now. I am currently 15% invested in a few index ETFs and will remain with a high cash position until market conditions improve. As always, I encourage members to make their OWN decisions based on your investment objectives and risk tolerance. If you have any questions, you can ask them during the next webinar which will be tomorrow, Thursday, November 10th during the trading day at 2PM EST. Thank you and good luck for the remainder of the week.

Unusual Option Activity:
11/9/22 Ark Innovation ETF (ARKK) with 2000 March $28 calls bought $7.40 offer
11/9/22 Healthcare ETF (XLV) with 4500 June $135 calls bought $8.565
11/9/22 Coinbase (COIN) buyers 6000 January $22.50 puts $1.69
11/9/22 Berkshire (BRK.B) opening seller 1250 March 270 puts for 7.50
11/9/22 Bristol-Myers (BMY) buyer of 2000 Jan 2024 $82.50 calls at $8.40
11/9/22 Prometheus Bio (RXDX) seeing Dec and Jan $60/$90 call spreads trade 1000X
11/9/22 Apple (AAPL) seeing 20,000 Dec. 23rd (W) $120 puts open $2.18
11/9/22 Microsoft (MSFT) buyer 12,500 February $200 puts $6.24
11/8/22 Semiconductor ETF (SMH) buyer 5000 February $220 calls $7.53
11/8/22 Dow Jones ETF (DIA) with 7000 January $310 puts bought $4.90
11/8/22 Citi (C) with 4650 Dec $47.50 puts bought and follows JPM/BAC Dec puts bought yesterday
11/8/22 Eli Lilly (LLY) seeing 4400 Dec $380 calls bought $9.25 and 2220 of the $410 sold as Nov spreads adjust
11/8/22 Texas Instruments (TXN) buyer 2000 Feb $155 puts $5.94 roiling Dec $150 puts
11/7/22 S&P 500 ETF (SPY) with 5800 Dec. 12th (W) $365 puts opening $6.10 as Nov. 370 adjust
11/7/22 Nasdaq 100 ETF (QQQ) opening sale 3000 June $295 calls 12.82 bid
11/7/22 Nasdaq 100 ETF (QQQ) also with opening seller 1000 January 2025 $265 puts $33.30
11/7/22 Occidental (OXY) 2000 Dec. 2nd (W) $75 calls sold to open 4.25 bids
11/7/22 Devon Energy (DVN) with 1300 January 2024 $95 calls sold to open 7.25
11/7/22 EOG Resources (EOG) opening seller of 1600 April $168.50 calls for $9.20
11/7/22 TransMedics (TMDX) large buy of 400 April $40 ITM calls at $24
11/7/22 Apple (AAPL) 1500 January 2025 $95 calls opening near $57.60
11/7/22 Palo Alto (PANW) with 600 March 135 puts selling to open 11.85