From the Desk of Kimmy Sokoloff

All the major indices broke below their 200-day moving averages.

That's not really what I wanted to see, but it happened.

We've adjusted a position in the Paid-to-Play portfolio today:

The biggest Form 4 filing on today's hot list is from Catherine Spear, CEO of FIGS Inc $FIGS.

Spear reported the purchase of 790,000 FIGS shares, equivalent to $4.9 million.

From the Desk of Kimmy Sokoloff

If the market can hold on to yesterday's low, I think there's potential we can head higher.

We really need to push past $SPY 400 with force and head straight to 405, then 408.

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

Fed Chair Jerome Powell spoke again today, but the market could not get going to the upside.

The semiconductors have been very strong this week. That's usually a positive sign for the market.

Maybe they're decoupling; time will tell.

From the Desk of Willie Delwiche

Today's trade is going to leverage the rising volatilities introduced into the stock market this week thanks to testimony from the Federal Reserve Chairman (I've been told).

When markets get dicey and volatility rises, I like to look at my universe of Sector ETFs and choose one that is both displaying higher relative options prices than its peers and looks set up for rangebound trading action over the next 3-5 weeks.

An ETF near the top of my list is the Materials sector ETF $XLB. We're going to bet on the recent sloppy trading action to continue sideways for a bit, and we're going to sell a delta-neutral spread to collect premium and position ourselves to earn the decay.

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

We’ve been looking out for this filing since last week!

Right on time, Uncle Warren strikes again with the Berkshire put in Occidental Petroleum $OXY.

From the Desk of Kimmy Sokoloff

The market hit the breaks yesterday after Fed Chair Jerome Powell’s speech.

Powell is to speak again today, which could make for sloppy trading.

From the desk of Steve Strazza @Sstrazza

We held our March Monthly Strategy Session on Monday night. Premium Members can access and rewatch it here.

Non-members can get a quick recap of the call simply by reading this post each month.

By focusing on long-term, monthly charts, the idea is to take a step back and put things into the context of their structural trends. This is easily one of our most valuable exercises as it forces us to put aside the day-to-day noise and simply examine markets from a “big-picture” point of view.

With that as our backdrop, let’s dive right in and discuss three of the most important charts and/or themes from this month’s call.