In today’s Daily Digest, we’ll review:

1. No new positions today.
2. Adjustment to XLV position.
3. Exited XRT position.
4. Current status of open campaigns.

Let’s dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today's list comes via a Form 4 filing by Jared Isaacman, founder and CEO of Shift4 Payments Inc $FOUR.

Isaacman reported a FOUR purchase of approximately $5.7 million.

GameStop and a number of speculative meme stocks have rallied in tremendous fashion this week. At the same time, we've yet to see this activity catch on in the crypto space.

I think as animal spirits reignite in this speculative securities, we'll eventually see a natural rotation that will bid higher a variety of meme coins in the crypto space.

Today's letter is a look at a variety of individual names and how I'm seeing this entire dynamic through the lens of the crypto asset class.

All Star Charts chief options strategist @OptionsSean joins Yahoo Finance to discuss the meme stock craze: pic.twitter.com/OXp18lXl1I

— Yahoo Finance (@YahooFinance) May 14, 2024

It appears that “Meme Stock Mania” is back. Or we’re at least having an echo moment.

Cool. I’m all for it!

Whatever leads more sheep to slaughter, the better for those people who trade with plans and logic. People like you and me.

If we learned anything from the last go-’round, remember that it’s very hard to control our risks in these mania stocks – especially when we have to deal with trading halts that may or may not resolve in the direction we desire.

Fortunately, options traders have a unique and specific advantage over...

From the Desk of Ian Culley @IanCulley

May showers and meme stocks are rolling through.

Roaring Kitty is back, leaning into his detractors with his trademark flair. 

AMC and GameStop $GME are ripping. Gold mining stocks are picking up the pace. And the US dollar…

Surprisingly, it’s still holding above former support.

The 105 - 104.75 area marks the spot for the US Dollar Index $DXY: 

A decisive close below that key polarity zone places the dollar back in the box, giving stock market bulls free rein.

Yet investors don’t seem to care about the greenback. 

Despite DXY’s sticky former highs, risk assets continue to crank.

Check out Dr. Copper and the aussie-yen posting fresh...

In today’s Daily Digest, we’ll review:

1. No new positions today.
2. Adjustment to XRT position (again).
3. No exits since the last report.
4. Current status of open campaigns.

Let’s dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today's list comes via two Form 4 filings by Bleichroeder LP.

The hedge fund bought 800,000 shares of CompoSecure Inc. $CMPO for a total of $5.2 million.

Look at this squeeze in GameStop $GME happening as we speak.

$GME more than doubled in price yesterday, finally closing up 75% on the day. That's a 200% rally in just a couple of weeks.

$GME is up another 90% pre-market today, as of the time of this writing...

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended May 10, 2024. This report is published bi-weekly, in rotation with The Minor Leaguers.

What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.

We use a variety of sources to generate the list of most popular names.

There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.

Click here for a behind-the-scenes look at our process.

Whether we’re measuring increasing interest based on large institutional purchases, unusual...

From the Desk of Ian Culley @IanCulley

Mining stocks are sticking their breakouts as our list of trending tickers grows. 

The Junior Gold Miners ETF $GDXJ is breaking out, platinum futures are completing a year-long base, and the silver-to-gold ratio is posting new highs.

With risk-seeking behavior creeping back into precious metals, it’s time to turn up the heat…

In today's Flow Show, Steve Strazza and I talked about how this market is setting up to be potentially very problematic for short sellers.

And the most pain will likely be felt in the stocks that currently have a heavy short interest.

With this in mind, the short squeeze pond is where we want to be fishing for long ideas.

In the video above, you can watch how Steve and I developed today's trade idea in Wayfair $W.

From the Desk of Ian Culley @IanCulley

Mining stocks are sticking their breakouts as our list of trending tickers grows. 

The Junior Gold Miners ETF $GDXJ is breaking out, platinum futures are completing a yearlong base, and the silver-to-gold ratio is posting new highs.

With risk-seeking behavior creeping back into precious metals, it’s time to turn up the heat…

Check out the silver/gold ratio printing a fresh six-month high while violating a multi-year downtrend line:

Finally, Silver is bringing it!

I won’t get too carried away by these six-month highs. But it’s a start. 

Trend reversals begin with trendline breaks. The silver-to-gold ratio is piercing a downtrend line drawn from the 2021 peak, signaling the early stages of a bullish reversal while revealing an uptick in risk appetite.

Plus, GDXJ is breaking out!

We have our levels for Gold and Silver, so let’s focus on a mining stock trading at a key area of former resistance.

Here’s McEwan Mining Inc. $MUX, a $500M gold miner based in Toronto, Canada:

MUX is pulling back to a...