This morning, the team was discussing a notable Board of Directors insider making a sizeable $5 million purchase of stock.
While an insider's buy isn't necessarily grounds for me to get interested in getting involved, it did catch our attention and after looking at the chart and the sector, it looks like a trade we'd like to get into--carefully.
There's nothing to provide updates on, nor any new trade opportunities I have seen.
I am reiterating the message earlier in the week.
I think this is a good place to add long-term exposure, but do not believe it to be good for short-term trading opportunities; more patience is needed here.
Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended August 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.
New all-time highs and fresh breakouts are dotting the charts. Buy signals are flashing left and right. And even the laggards – Palladium and Platinum – are refusing to break down.
Best of all, Gold has a one-track mind: up and to the right!
In today's Flow Show, Steve Strazza and I assess the current market environment, post- whatever the hell we're calling what happened a couple weeks ago (Volmageddon 2?, Yen YoYo? The Carry Drop?).
It feels more and more like that was merely a footnote to an otherwise pretty robust bull market. We'll see.
Regardless, we're looking for bullish setups in this tape and an online retailer out of South Korea has our attention.