The largest insider buy on today’s list comes in a Form 4 filing by Carl Icahn, who revealed a purchase of $11.2 million in Southwest Gas Holdings $SWX.
Icahn now owns 15.65% of outstanding shares of SWX.
Expert technical analysis of financial markets by JC Parets
by David
The largest insider buy on today’s list comes in a Form 4 filing by Carl Icahn, who revealed a purchase of $11.2 million in Southwest Gas Holdings $SWX.
Icahn now owns 15.65% of outstanding shares of SWX.
by David
From the Desk of Kimmy Sokoloff
As I write this note, $SPY has finally filled its gap pre-market at 421.22.
The push higher was brought on by the debt ceiling deal.
From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts
This is one of our favorite bottom-up scans: Follow the Flow.
In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.
We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.
Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.
We also weed out hedging activity and ensure there are no offsetting trades that either neutralize or cap the risk on these unusual options trades.
What remains is a list of stocks that large financial institutions are putting big money behind.
And they’re doing so for one reason only: because they think the stock is about to move in their direction and make them a pretty penny.
Then we flip through our list of stocks flashing unusual activity and pick the best setups using many of the same technical filters we do for our other scans.
And, just like that, we’ll follow the money flow and fatten our own pockets along with some of the world’s most powerful financial institutions.
by JC
You’re hearing a lot these days about weakening market breadth.
But if you’ve noticed, those lies are only coming from journalists and other types of people with no formal training or experience in technical analysis.
That’s like me pretending to be an expert in chess because I watched some people playing this one time in Washington Square Park.
If you think that the Equally-weighted S&P500 underperforming is evidence of deteriorating market breadth, you fall into this category of the misinformed and confused.
It’s not a market breadth thing. It’s simply a sector rotation thing. [Read more…]
by JC
In bull markets historically there’s less of a need, or no need at all, for the safest stocks.
These defensive sectors include areas like Consumer Staples, Utilities, Healthcare and stocks with Low Volatility.
All of them made new 52-week lows on Friday relative to the S&P500: [Read more…]
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.
We’ve also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It’s got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let’s dive in and take a look at some of the most important stocks from around the world.
by David
This is the video recording of the May 26, 2023, Inside Scoop Weekly Strategy Session.
by David
From the Desk of Kimmy Sokoloff
Typical market action on a pre-holiday weekend trading day: Rally time!
The indices were up more than 1%, and we’re heading into gap-fill on $SPY.
Enjoy your Memorial Day.