In today’s Daily Digest, we’ll review the following:

1. No new positions today.
2. Adjustment to XRT position.
3. Exited XLK position.
4. Current status of open campaigns.

Let’s dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The most significant insider buy on today's list comes via a Form 4 filing by Control Empresarial de Capitales S.A. de C.V.

The Mexico-based investment company reported a purchase of Talos Energy Inc $TALO shares with a total value of $20 million.

When you look at Consumer Discretionary stocks as a group, you think "Wow this is the worst sector on the planet".

How can there be any winners coming out of here?

But there are. And there always will be.

First, look at the sector itself relative to the S&P500 going out last month at the lowest levels in over 10 years.

I don't have much directional conviction in the short-term. I want to see Bitcoin break 73,000 before getting overly optimistic in the coming weeks.

From the Desk of Steve Strazza @Sstrazza

Despite some messy action from the broader market in recent months, risk appetite remains elevated.

How do we know?

The stocks that investors are betting against the most are making big moves... to the upside.

And we know just what to do in these environments.

We look to our freshly squeezed universe and find the most heavily shorted stocks. We wait for momentum to come into these names, and we ride them higher while the shorts get squeezed.

We got new short data recently, so let's talk about how we're playing it.

Our scan is quite simple. It is designed to identify stocks with the most aggressive short positions. When a stock is shorted, it means incremental buyers are waiting in the wings to close out their bearish bets.

We love this, as new buyers are the one true catalyst for higher prices.

When shorts are proven wrong, they become buyers of the stock. In many cases, this happens as momentum flows into these names and fuels massive short-covering rallies.

For this reason, we pair short-interest data with short-term momentum overlays, as...

How many times do these people tell you that the market is rigged?

Well, if you actually believe that then why wouldn't you just bet on the companies that profit most from the rigging?

I don't see the problem.

If you can't beat them, join them!

Here is the NYSE Broker Dealers Index making new all-time highs.

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

From the desk of Steve Strazza @Sstrazza

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

Here’s this week’s list:

*Click table to enlarge view

We filter out any laggards that are down -5% or more relative to the S&P 500 over the trailing month.

Then, we sort the remaining names by their proximity to new 52-week highs.

This leaves us...

From the Desk of Ian Culley @IanCulley

Metal and mining stocks are hanging tough.

Sure, miners aren’t flashing an overwhelming number of new highs, but they’re also not registering an alarming number of new lows.

That’s impressive, especially considering Copper’s epic false start.

While many precious and base metal stocks consolidate, let’s review the next group of mining names before they rip…

Check out the Junior Uranium Miners ETF $URNJ versus the Uranium Miners ETF $URNM:

Despite the significant overlap between these two ETFs, I view a breakout in the URNJ-to-URNM ratio as a clear risk-on signal (much like the relative strength displayed by junior gold miners). 

The top four URNJ holdings – accounting for approximately 60% of the ETF – also belong to URNM. In comparison, those same four stocks combine for just 28% of URNM.

URNM also includes the $24B uranium bellwether...

From the Desk of Ian Culley @IanCulley

Metal and mining stocks are hanging tough.

Sure, miners aren’t flashing an overwhelming number of new highs, but they’re also not registering an alarming number of new lows.

That’s impressive, especially considering Copper’s epic false start.

While many precious and base metal stocks consolidate, let’s review the next group of mining names before they rip…

Check out the Junior Uranium Miners ETF $URNJ versus the Uranium Miners ETF $URNM:

Despite the significant overlap between these two ETFs, I view a breakout in the URNJ-to-URNM ratio as a clear risk-on signal (much like the relative strength displayed by junior gold miners). 

The top four URNJ holdings – accounting for approximately 60% of the ETF – also belong to URNM. In comparison, those same four stocks combine for just 28% of URNM.

URNM also includes the $24B uranium bellwether Cameco Corp. $CCJ (a 17% weighting) and the Sprott Physical Uranium Trust (...

As I mentioned in yesterday's Options Jam Session, the stock market is currently sending mixed signals and it has me open to the idea of adding some short exposure to my portfolio to balance the risks to my open long positions.

So I'm on the hunt for weak stocks that are showing signs of losing significant support levels.

Today's trade fits the bill.