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

1. FED DAY: No new positions today.
2. No adjustments are needed today.
3. No exits since the last report
4. Current status of open campaigns.
5. NEW: Volatility Snapshot.

Let’s dig in!

From the Desk of Steve Strazza @Sstrazza

When investing in the stock market, we always want to approach it as "a market of stocks."

Regardless of the environment, there are always stocks showing leadership and trending higher.

We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.

The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too. 

We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.

We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics. 

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

1. New position in IWM.
2. No adjustments are needed today.
3. No exits since the last report
4. Current status of open campaigns.
5. NEW: Volatility Snapshot.

Let’s dig in!

Last week, Palladium surged nearly 20% after we discussed buying the futures, and Gold reached a new all-time high.

In response, precious metals mining stocks ripped higher for their best week since 2020.

The momentum behind some of these moves is absurd. For example, CDE, GATO, AG, and NGD all rallied over 30% last week.

Let's talk about what we're doing about it:

I'm out in Newport Beach, CA for a few days hanging out at an industry conference called Future Proof. 

I don't even know where to start with these guys.

I've had a front row seat to watch my good friend Josh Brown partner up with Barry Ritholtz, hire Michael Batnick and many others along the way, and turn a small advisory into a $5 Billion AUM firm - one of the fastest growing Financial Advisors in the United States.

It was awesome when they were first coming up and putting on conferences. They were big, but still small and intimate in their own ways.

Now they're just way too successful.

That band that was cool when just a few people knew about them has gone mainstream. 

There are way too many people here. It's absolutely insane.

My friends are rockstars. And I couldn't be happier to see all of their success.

I say there are too many people at this conference as a joke. But I'm not even kidding. There were like 20 open bars at happy hour last night and I still couldn't get a drink. 

It was nuts.

And today is actually the first full day.

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 September 14, 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.

A bank from one of the world's largest economies is breaking out. How bearish can the stock market be in an environment like that?

The breakout is a new all-time high, and you guys know how I feel about new all-time highs. (hint: I love them)

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

1. New position in XOP.
2. No adjustments are needed today.
3. No exits since the last report
4. Current status of open campaigns.
5. NEW: Volatility Snapshot.

Let’s dig in!

Heading into last week I shifted my short-term bias (weeks) from neutral to bullish.

This worked out rather nicely, with the S&P 500 closing every day in the green and crypto markets getting some relief from this recent selling.

I have flipped back my short-term bias (weeks) back to neutral with stocks pressing up to the highs. This fits into my intermediate bullish bias (months) as the market appears reserved heading into the election.

My longer-term bias (quarters) is still unequivocally bullish.

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

We've been obnoxiously talking about soft commodities lately.

But, it's for a good reason! And it all comes down to relative strength.

Aside from a few pockets of strength, the trends have been a mess in the broader commodity complex.

Products like Natural gas and precious metals have been hard to ignore if you're involved in the commodities markets.

There's more though. 

Orange Juice futures made a new all-time high this week and look primed to begin a new leg higher.

Let's talk about how we're playing it:

First, some context: