From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Keith Crandell, the  co-founder and a managing director of ARCH Venture Partners.

ARCH Venture Partners just bought 3,200,000 shares of Prime Medicine Inc $PRME, equivalent to $20 million.

Back in the late 1800s, Charlie Dow was a journalist in Springfield Massachusetts.

His job was to write about the stock market. But when he would go knocking on doors asking companies questions, they would tell him, "Our business is none of your business".

So how could poor Charlie do his job then?

Well, he concluded that there was a better way to do this.

He recognized that there were a select group of stocks that, "Made the goods", and he called those the Industrials.

And then there was the group of companies that, "Delivered those goods". At the time, they were the Railroads.

If one of these groups of stocks were going up in price, and so was the other group, then things are moving in a positive direction together. Those were good signs for the market.

It was specifically when one of those groups were...

Good morning,

Welcome to your daily crypto clarity

WHAT YOU NEED TO KNOW

Ethereum eclipses 3,000 for the first time since April 2022.

Bitcoin order books are the most liquid since October, according to data from Kaiko.

Altcoin momentum is still not in frothy condition, with a mere 20% of our cryptocurrency universe registering overbought conditions.

FEATURED CHART

The dollar is still a significant theme to monitor in this tape; the correlations that exist between crypto markets and equities are still present. Risk markets have largely ignored this recent strength out of the greenback, but should the dollar continue creeping higher, it would place additional pressures on Bitcoin and crypto assets.

WHAT TO LOOK OUT FOR

We’re monitoring whether this recent momentum in ETHBTC can continue, which would be a sign that the Bitcoin leadership is coming to an end,

Equity markets...

Both Bitcoin and Ethereum have surpassed psychological levels of $50,000 and $3,000, respectively, following impressive rallies. Now, the risk versus reward scenario tilts towards the speculative end, as indicated by our breadth metrics, which highlight increasing activity within the altcoin space. Simultaneously, equity markets confront a challenging seasonal period amidst a backdrop of a strong dollar.

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the week ended February 16, 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

Gold’s beginning to attract some attention.

Not because it was shooting higher but because it kept trading while most respectable markets closed in observance of Presidents Day.

US stocks, grains, and other god-fearing commodities did not trade. So investors needed something to talk about other than Bitcoin. 

But as gold stole the headlines, no one was talking about platinum.

I like that platinum isn’t attracting too many eyeballs right now.

Here’s why…

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

1. New position in XLU.
2. No adjustments are needed today.
3. An exit in USO.
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 in a Form 4 filing by Deerfield Asset Management’s James Flynn.

The investment firm reported a purchase of $37 million in Larimar Therapeutics $LRMR.

From the Desk of Ian Culley @IanCulley

Gold’s beginning to attract some attention.

Not because it was shooting higher but because it kept trading while most respectable markets closed in observance of Presidents Day.

US stocks, grains, and other god-fearing commodities did not trade. So investors needed something to talk about other than Bitcoin. 

But as gold stole the headlines, no one was talking about platinum.

I like that platinum isn’t attracting too many eyeballs right now.

Here’s why…

Platinum futures are carving out a potential multi-year reversal pattern.

A series of former highs (the 2021, 2022, and 2023 peaks) mark a critical area of overhead supply and our breakout level at approximately 1,140.

But no one seems to care – probably because price is trading well below a reasonable risk level. 

Precious metals – not just gold and silver – are a range-bound mess at best. Yet glimmers of hope lie within platinum’s sideways chop.

Momentum (14-week RSI) is oscillating within a bullish regime. Price is also holding above the 2022 and 2023 lows.

I understand if those data points...

And we're back...

The new all-time highs in the S&P500 and Nasdaq100 earlier this month have been well documented.

What they don't tell you is that the equally-weighted versions of those market-cap weighted indexes are just now getting back to their late 2021 highs.

They never even broke out. In fact, they're finally just getting back to where they started.

We discussed this yesterday and what we're doing about it. I highly encourage you to watch yesterday's Emergency State of the Markets Livestream.

Here's the S&P500 Equally-weighted Index running into those former highs: