The Junior Gold Miners appear to be temporarily stuck in the rocks. And with juicy options premiums to sell, we will take advantage of the range with a delta-neutral credit spread.
From the Desk of Steve Strazza and Alfonso Depablos
Today’s most significant insider transaction is another Form 4 filing by the executive vice president and CFO of M&T Bank Corporation $MTB, who announced a purchase worth $555,217.
The same MTB executive reported an MTB purchase in early June worth approximately $1.2 million.
Everywhere you look, commodities argue a strong case for the next supercycle.
Live cattle, feeder cattle, sugar, cocoa, and orange juice are all amid historic rallies. Even gold’s resilience in an environment where it should struggle speaks to an underlying demand for raw materials.
Well, perhaps not everywhere…
While orange juice busts loose on a parabolic advance and cocoa rips toward all-time highs, copper futures barely exceed their year-to-date lows.
On the bright side, it stopped falling.
Check out copper digging in at key pivot lows from earlier this spring:
Check out the 2s10s spread challenging zero from below:
An inverted yield curve (widely measured by the 2s10s and 3mo.-10yr. spreads) has cast a pall over capital markets, promising an economic recession for over a year. Yet the US economy remains strong.
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.
We've also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It's got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let's dive in and take a look at some of the most important stocks from around the world.
If/when the market can find it's footing, today's trade is in a name that I'd like to get aggressively bullish in for a long-term bet.
In the meantime, I'm not ready to be aggressive yet, but there is an opportunity for us to get paid to wait with a conservatively bullish bet that gives us room to be wrong.
