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

The largest insider buy on today’s list comes in a Form 4 filing by Impinj, Inc. $PI director Steve Sanghi.

Sanghi reported a purchase of PI shares worth $1,997,500.

From the Desk of Kimmy Sokoloff

$SPY bumped right against its Bollinger band yesterday and dropped.

We had a pretty decent-sized move last week, and I think the indices will wait till tomorrow to get going again.

It's that time of the year again.

I keep being told to 'Sell in May and Go Away'.

But where is it exactly that I'm supposed to go?

Investors continue to be rewarded for owning stocks as both the S&P500 and Nasdaq100 closed out April with their highest Monthly close in a year.

This is the video recording of our May 1st Monthly Charts Live Strategy Session

From the Desk of Ian Culley @IanCulley

It’s still messy out there, no matter where you look.

Signs of strength are fleeting, whether we’re discussing gold, the S&P 500, or US Treasuries. It’s one of the few observations everyone agreed upon last week at the 50th annual CMTA Symposium. (I'll have more on that later this week.)

Despite failed breakouts and trading ranges ruling the market environment, one bullish data point stand out regarding precious metals…

Silver!

From the Desk of Kimmy Sokoloff

The market is still trucking along and going higher.

$SPY does have potential to the February high at 418.31.

From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts

This is one of our favorite bottom-up scans: Follow the Flow.

In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.

We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.

Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.

From the desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the week ended April 28, 2023. This report is published bi-weekly and rotated 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.

From the Desk of Ian Culley @IanCulley

It’s still messy out there, no matter where you look.

Signs of strength are fleeting, whether we’re discussing gold, the S&P 500, or US Treasuries. It’s one of the few observations everyone agreed upon last week at the 50th annual CMTA Symposium. (I’ll have more on that later this week.)

Despite failed breakouts and trading ranges ruling the market environment, one bullish data point stand out regarding precious metals…

Silver!

Check out silver futures finding support at a critical polarity zone:

As we're starting to get the latest round of earnings reports into the rear-view mirror, we're getting some clarity on the next crop of leaders for a potential move higher in the stock market.

Today's trade is on an emerging leader in the Defense sector that positions us very offensively for the next move up.

Let's get to it!

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