The largest insider transaction on today’s list comes in a Form 4 filed by Sanford Robertson, director of Cassava Sciences $SAVA.

Robertson reported a purchase of SAVA shares in the amount of $523,500.

From the Desk of Kimmy Sokoloff

Happy Friday!

We can expect some volatility today, starting pretty early, due to Jerome Powell speaking at the Fed Symposium in Jackson Hole.

If the market likes what the Fed Chair has to say, $SPY could push above 440.20. If not, we can potentially see 432.

Might be hard to get movement early this morning.

The most important groups of stocks are stuck below overhead supply.

That's not usually a characteristic of strong uptrends where investors are consistently rewarded for owning stocks. That was the first half of this year.

Today, it's almost the exact opposite.

In this type of environment, investors are rewarded for selling volatility and collecting income. Investors also tend to be rewarded for avoiding these types of sectors and looking for opportunities elsewhere, in less correlated areas.

Here are 4 of the most important groups of stocks all stuck below their prior cycle's peaks:

From the Desk of Kimmy Sokoloff

It was a steady decline most of the day.

We hit resistance on the indices, and they all reversed.

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

The next new position in our Paid-to-Play portfolio is:

We had a resting GTC order filled in the Paid-to-Play portfolio yesterday:

The largest insider transaction on today’s list comes in a Form 4 filed by Sylebra Capital Ltd.

The hedge fund reported an additional purchase of $2.8 million in Impinj $PI.

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. 

Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.

Now, we're also highlighting lagging stocks on a recurring basis.

Welcome to the Short Report.

From the Desk of Kimmy Sokoloff

$SPY is now above its moving average.

I mentioned two days ago in the Morning Briefing that a move above 441 can send it to 444.

Here we are.

This is the video recording of the August 2023 Mid-month Conference Call.

From the Desk of Kimmy Sokoloff

We saw a nice bounce in the market today.

$NVDA reports after the bell, so that will have some importance tomorrow.