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.
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.
The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.
The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.
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.
Key Takeaway: Investor moods will change as prices fluctuate but they seemed to follow word with deed in May. The AAII asset allocation survey showed them lightening up (perhaps only briefly and modestly) on their equity exposure. By month-end, we had evidence that the $4.5 trillion in money market funds (more of a molehill than a mountain when adjusted for total market value) was being put to work in both stocks and bonds. Bearish investors are not so much disgruntled with stocks, but disgusted by the price action they have experienced this year. It didn’t take much of a move off the lows for optimism to start building again. Rallies that are initially despised (or at least viewed skeptically) are more likely to have staying power than those that are quickly embraced. Sentiment is at levels from which rallies tend to emerge - positioning, however, is not.
Longtime readers know how much we love new monthly candlesticks. They force us to zoom out from the day-to-day noise and focus on what's really taking place.
In the case of Bitcoin $BTC, it can't get any more defined than 30,000.
Remember this time last summer when we were obnoxious about this level every week?
We play with the cards we are dealt. There is nothing else we can do. We cannot employ willpower to create market conditions into being the way we'd prefer them to be. They are what they are, it is what it is. So we work with what we've got.
And what we've got right now are a bunch of badly beaten up stocks. Many still off 60%+ from their recent highs.
Dumpster diving isn't my favorite way to find new ideas to trade. But my man Strazza enjoys the exercise from time to time and recently, he's uncovered some notable insider buying and unusual options activity in some former highflyers, most notably Zoom $ZM.
But first, let's survey the damage. This probably isn't new to many of you, but look how far ZM has fallen from its recent perch atop Momentum Mountain:
The largest insider buy on today’s list comes in a Form 4 filing by ValueAct Capital.
It reveals an additional purchase of roughly $7.8 million in Insight Enterprises $NSIT, as ValueAct continues to increase its position in the tech stock.
