Hey everybody. We aren't able to put up a video Jam Session this week as the whole team is off-site in Washington, D.C. attending the CMT Annual Symposium.

Need proof? Here's me, JC, Strazza, and friends in front of the White House at midnight last night! :)

But I still want to update you on action in our open trades this week, as it's been a busy one. So here goes:

The big insider news from Thursday came in a Form 4 filing by RA Capital Management.

The firm reported a purchase of 2,200,000 shares of Nkarta Inc $NKTX, representing an ownership stake of 23%.

Not everyone has the luxury of slinging cryptocurrencies in the world of DeFi protocols, exchanges, and wallets.

Others have to lean on traditional investment vehicles to gain crypto exposure.

There's a ton of potential candidates in the stock market to lean on to express a given crypto thesis, but it's all about choosing the right names.

We've been pointing out the dispersion of performance between crypto equities and the underlying cryptocurrencies themselves; the stocks have underperformed, while the coins have outperformed.

But it isn't that simple -- there's some level of nuance involved.

The largest insider transaction on today's list is a Form 4 filing by Simon Groom, who reported a $49 million purchase in the broadcasting company iHeartMedia $IHRT.

From the desk of Willie Delwiche.

Key Takeaway:  The lack of a meaningful rebound in price sustains a subdued atmosphere across the market. Sellers continue to drive prices lower and equity put/call ratios are on the rise. But due to the overwhelming decline in call volume this speaks more to a lack of risk appetite than outright fear. While pessimism is certainly present and has reached levels associated with opportunity, there is still plenty of room for sentiment to unwind. Current conditions carry significant risks with lackluster price action and  equity ETFs starting to experience net outflows (three weeks in a row and four of the past five weeks). Simply put: we have not seen significant evidence of capitulation. Just because the recent market environment has been tough doesn’t mean it can’t get worse.

Sentiment Report Chart of the Week:  Is “As Bad As It’s Been” Good Enough?

Recent selling pressure has pushed the NASDAQ 100 into negative territory on a year-over-year basis. That has been unfamiliar...

That's right. We're thirsty.

And how can we not be when looking at this Pepsi chart?

With everything the stock market has thrown at us over the past few weeks, look how well Pepsi $PEP has held up!

From the desk of Steve Strazza @Sstrazza

Welcome to the 2 to 100 Club.

As many of you know, something we've been working on internally is using various bottom-up tools and scans to complement our top-down approach. It's really been working for us!

One way we're doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).

Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.

But the scan doesn't just end there.

We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.

Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during...

We debuted a new scan recently which goes by the name- All Star Momentum.

All Star Momentum is a brand new scan that guides us towards the very best stocks in the market. This time around, we have incorporated our stock universe of Nifty 500 as the base. Among the 500 stocks that we follow, this scan will pump out names that are most likely to outperform the market.

From the Desk of Louis Sykes

As a teenager, I was deep into science.

It wasn't until the last year of high school that I made the last-minute decision to study finance at university. For the longest time, I was preparing to study mathematics, astronomy, and physics.

The universal disciplines of science I learned in this period will always stick with me as an aspiring trader.

One discipline is the Feynman Technique, a foundational mental model you can use to unlock growth in your career, startup, business, writing, and life.

The largest insider transaction on today's Hot List is a Form 4 filing by Ernest Garcia II, CEO and co-founder of Carvana $CVNA.

CVNA just raised an additional $1 billion via a private offering of perpetual preferred stock, and Garcia has taken a large allocation.

He remains CVNA’s largest shareholder by a wide margin.

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

Earlier in the month, we pointed out breadth deterioration in the US dollar.

While the dollar pressed to new highs against the yen, the pound, and the euro, it struggled to gain ground against commodity-centric and emerging market currencies.

The lack of broad strength had us questioning the validity of the recent rally in the US Dollar Index $DXY. 

That’s changed recently.

Today, the dollar index is catching to new highs against a backdrop of broadening strength, not weakness. Now that we’re seeing dollar internals flip and start to confirm these new highs from the index, this is not a trend we want to fight.

And, to be clear, we haven’t been. 

While we’ve been skeptical of the rally in the DXY, we’ve expressed a bullish view on the dollar via the major crosses. They’ve been the weakest links and main drivers of DXY strength.

...

It’s been just over three weeks since Elon Musk filed his original 13G and revealed an investment in Twitter $TWTR.

Now, it looks like he’s about to take control of the entire company.

Yesterday, it was announced that Twitter has accepted his $44 billion offer to take over the company and go private.

Here’s what else is happening in the world of insider activity…