The largest insider buy on today's list is a Form 4 filing by Column Group, which reported the purchase of approximately $5.8 million in NGM Biopharmaceuticals $NGM.

Kevin Riley, the CEO and president of First Interstate BancSystem $FIBK, revealed a purchase of approximately 2,900 shares in the regional bank.

It would be irresponsible of me not to make Small-cap Value today's Chart of the Day.

I mean how can it not be?

(OK, Copper's biggest 1-day move since 2013 was a close 2nd)

But the new 6-week highs in $IWN, which represents Small-cap Value, just cannot be ignored!

If these guys are above their former support levels going all the way back to Q1 2021, then a short position in any of these things is a mistake:

This is the video recording of our June 2nd Monthly Charts Live Strategy Session

From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley  

Back in January, the big story was the yield on the 10-year US Treasury note printing new multi-year highs.

At the time, other benchmark yields worldwide were also resolving higher, completing large bases.

This was confirming evidence that added to our conviction US yields were headed higher and that we were in the early stages of a rising rate environment.

The confirmation from global yields proved valuable information.

Almost six months later, the US benchmark is just below 3.00%. As it pauses below a critical level, we again turn to overseas rates to get a read on the potential near-term direction of the 10-year yield.

And just like earlier in the year, they’re pointing higher.

Let’s take a look.

Here’s a chart of European 10-year yields:  European rates are catching higher.

The yields on 10-year government bonds from France, Germany, Spain, Portugal, and...

From the desk of Willie Delwiche.

Key Takeaway: Risks to the economy are rising, though a recession is not a foregone conclusion at this point. Barring a dramatic and unlikely abatement in inflation pressures, the path of least resistance for interest rates is higher than the market is accounting for at this point. Rally attempts have been volatile but, so far at least, short-lived and as longer-term trends turn lower, many investors are dealing with an unfamiliar (and uncomfortable) environment. While moods have soured, positions are little changed. Overall these are the conditions under which bear markets can die and bull markets be re-born. The evidence at this point does not suggest that turn is at hand.  

This is the video recording of the June 2nd Weekly Town Hall w/ Willie Delwiche.

06/02/22 2:00 PM ET

The bears are getting creative with their theories.

You notice?

And there are a lot of bears out there. More than we've seen in a long, long time depending on how exactly you're counting them.

So the big question is whether we've seen A bottom or if we've seen THE bottom.

And the truth is no one knows until after the fact.

All we can do is continue to collect the data as it comes in and make the best decisions with incomplete information.

The first thing that needs to happen before stocks can go up, is that they need to stop going down.

That's just math.

And what's interesting is that with lower lows in the price of most major U.S. Indexes a couple of weeks ago, fewer stocks were actually able to make new lows....

Mea Culpa --- I'm letting this post stand because it offers two good lessons for traders:

1. The risk management laid out below is how I manage long calls heading into expiration. So anyone holding a similar position will benefit from this or a similar risk management plan.

2. It offers a lesson on keeping good records. I messed up. For ASO subscribers, we're actually in the September calls, NOT JUNE CALLS. We have plenty of time until our position expires and therefore we actually don't need to do anything here yet but enjoy our #FreeRide. The confusion for me is that I also have June calls on in my personal portfolio and I did not take careful notes in my personal spreadsheet. And when reviewing, I accidentally confused these June calls as part of the position we put on for ASO. So, yes, I personally will be exiting my June calls soon (as laid out below). But for those of you who followed me into our September calls trade, we've got time. 

Sorry about the confusion.

Hello everyone! It's the beginning of the month and during this time, I always review any open...

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

Director Meridee Moore of Rayonier $RYN reported a purchase of 12,000 shares of her company's stock in a Form 4 filing.

The CEOs of Solo Brands $DTC, American Assets Trust $AAT, OPKO Health $OPK, SoFi Technologies $SOFI, and Doximity $DOCS all filed Form 4s reporting small purchases of their own stocks.

A funny thing can happen when you don't have any exposure to Technology stocks....

And that's precisely what's taking place in the United Kingdom.

How many countries around the world are pushing up against new all-time highs?

From the desk of Louis Sykes @haumicharts

The beauty of trading and analyzing crypto is the level of transparency of the data.

This is put on full display when it comes to the sprouting industry of on-chain analytics, but the same principles apply when evaluating money flow as a collective.

Not only does crypto host its own exclusive metrics that aren't available in traditional markets, but traditional indicators like the topic of today's post often have additional nuances involved.

This enables us to gain even more insight than what is possible in other asset classes.

Today, we wanted to explore how we use open interest in our crypto process to supplement our traditional technical analysis research.