Link to last week’s IBD Podcast: https://www.youtube.com/watch?v=qvtEZwrTh8w
Link to IBD Live Trial: https://get.investors.com/ibd-live/?src=A00616

Topics covered:
1) 0:00 Announcements
2) 1:05 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 10:30 Stock Review – Biotech: XBI (ETF), IBB (ETF), AMLX, ACLX, AXSM, BTAI, RVNC, VTYX, AUPH
4) 20:30 Stock Review – Energy: OIH (ETF), SLB, TDW, VAL, HES
5) 21:45 Stock Review – Semiconductors: SMH (ETF), ACLS, PI, KLAC, LSCC, ALGM, AMKR, NVDA, STM, AVGO, MBLY, AEHR
6) 27:50 Stock Review – Software: AYX, SPLK, MODN, ESTC, AI, OPSN
7) 30:40 Stock Review – Watch List/General Ideas/Commentary: AXON, TMDX, FOUR, WING, DECK, URI, MEDP, INSP, CELH
8) 34:50 Stocks near buyable ranges: IMCR, VRNA, HAL, HP
9) 37:35 Conclusion/Summary

Market Summary:
Over the past few weeks, the price action of the major indexes has shown great improvement. They are all back above their 200-day moving averages, the up days are occurring on strong volume, and the down/sideways consolidation days are coming on lighter volume. From here, please keep in mind that we are extended from the 21-day. Shorter-term, I wouldn’t be surprised to see a normal pullback over the next 1-3 weeks. Some reasons that could trigger this pullback include: end of the month profit taking, any hawkish tone from the Fed this Wednesday, and weak earnings/guidance from one of the mega caps. That doesn’t mean go short, that doesn’t mean go all cash, it simply means don’t be surprised if the market pulls back a little. As always, I talk in terms of probabilities. I’m just here to remind you when we get extended, and to encourage stronger entry points.

In this video, I go through many stocks and explain the overall price action. Two points I would like to stress: 1) The more you look at charts, the more you will understand normal price action. 2) How you trade these ideas completely depends on your own style. I can help you by presenting stronger entry points, but as always, I encourage you to make decisions on your position size and timeframe. The more you work on this, the quicker you will build your “decision making” muscle, and the more progress you will make towards building your confidence. Good luck this week and remember to use that 21-day as your guide for stocks and the overall market.

Unusual Option Activity:
1/27/23 Nasdaq 100 ETF (QQQ) buyer 3500 April $299/$296 bull risk reversals opening for 0.26 credit
1/27/23 Apple (AAPL) with 20,000 May $140 puts sold to open 6.30 to 6.20 this morning
1/27/23 Apple (AAPL) also seeing large buys for 27,000 May $165 calls at $2.40 to $2.90
1/27/23 C3.ai (AI) 1950 Mar 17.5 calls bought with strong move
1/27/23 Onespan (OSPN) seeing March $12.5/$17.5 call spreads close and buys 3500 March $15 calls $0.85
1/27/23 Ford (F) opening seller 3000 June 2025 $15 puts $3.85
1/27/23 Chewy (CHWY) with 2000 May 47.50 calls being sold to open for $6 into rally
1/27/23 Netflix (NFLX) large opening sale 2000 June $350 puts for 27.10
1/27/23 Unity Software (U) with 2200 March $40 calls bought 2.76 to 2.82
1/27/23 Chevron (CVX) with 500 January 2025 $150 puts sold to open $12.20
1/27/23 Alnylam (ALNY) with 1400 March $240 calls bought $8.50 to $9.30
1/27/23 ASML (ASML) with 870 March $760 OTM calls bought $6.60 today
1/27/23 Cloudflare (NET) with 3000 May 30 puts sold to open today 1.11
1/27/23 CrowdStrike (CRWD) opening sale 750 April $115 puts for 16.65
1/26/23 Russell 2000 ETF (IWM) opening seller 3000 August 163 puts 4.13
1/26/23 S&P 500 ETF (SPY) with 45,000 March $384 puts bought to open this morning adjusting $380 put hedges
1/26/23 Nasdaq 100 ETF (QQQ) with 45,000 March 31st (Q) $270 puts active with buyers today near $4.80
1/26/23 Wynn Resorts (WYNN) buyer 1400 June $110 calls $7.45 offer
1/26/23 PayPal (PYPL) with opening sellers in Feb 10th $75 puts at $2.40, captures earnings
1/26/23 Helmerich and Payne (HP) with 2100 March $50/$45 bull risk reversals opening for $0.60 into earnings Monday
1/26/23 Apellis Pharma (APLS) interesting spread buys 2000 March $60 calls $6.30 and sells 4000 of the April $90 calls for $1
1/26/23 Pacific Bio (PACB) trading 1500 March 12/10 bull risk reversals
1/26/23 Revance (RVNC) stock replacement buys 2000 March $35 calls $2.825 and sells 1000 of the $35 puts for $3.40
1/26/23 Peabody Energy (BTU) buyer 2500 July $28/$40 call spreads
1/26/23 Salesforce (CRM) buyer 10,000 Feb. 10th (W) $170 OTM calls $1.30 with the activist push
1/26/23 Broadcom (AVGO) with 1000 September $550 puts opening near $34.50 as June $530 adjust