Finally, a setup I love that has earnings out of the way! There's light at the end of the tunnel. And no surprise I find this setup in a strong sector that wants to lead the market higher.

We're going to leverage some cheap options to position for a breakout to 52-week highs in this big cap name.

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

We've adjusted a position in the Paid-to-Play portfolio today:

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

The largest insider buy on today’s list comes in a Form 4 filing by Cormorant Asset Management.

Cormorant revealed an additional purchase of $58 million in Ambrx Biopharma $AMAM.

From the Desk of Kimmy Sokoloff

What a week, though we've been pretty much range-bound.

Yesterday we started to dip in the late afternoon.

I’m in the process of creating a formal “business plan” for one of my trading strategies.

In 2002, I went through an arduous experience of creating an operating agreement, disclosure documents, and strategy explainers to attract investors as I built a small commodities hedge fund from scratch. Ignorance was bliss.

It was a chore, but a worthwhile investment in my time and energy because I ultimately won the business and started the fund. Success!

Now I’m entertaining the idea of managing OPM (other people’s money) again, and I’m reminded of the rewards of this process.

From the Desk of Kimmy Sokoloff

Wild action again today...

We were down in the morning, then we rallied for a bit till about 2:00 p.m. ET, then we had a complete fade into the close.

From the Desk of Ian Culley @IanCulley

What caught my attention following the SVB collapse wasn’t the headlines so much as how the markets handled the news and the stress that followed.

It’s difficult to find the silver lining of one of the largest bank failures since the financial crisis. But I’m more of a glass-half-full kind of guy.

Despite the relentless barrage of negative headlines, it’s undeniable that risks have been contained, and the markets have weathered the storm – at least for now.

Investors ditched equities and ran to the safety of US Treasury bonds as the saga unfolded. It was like the good old days when stocks were risk assets, and bonds acted like – well, bonds!

Now that the dust has settled, I believe the renewed classic intermarket relationship between stocks and bonds and the familiar patterns of risk-on/risk-off behavior bodes well for the overall market.

Especially when you consider easing volatility…

Here’s an overlay chart of the Bond Volatility Index $MOVE and the S&P 500 Volatility Index $...

We've adjusted a position in the Paid-to-Play portfolio today:

The weakness in the US Dollar over the past couple of quarters comes as no surprise to us.

The journalists nailed it again.

What else is new?

But here's what really has surprised me.

If you would have told me in September that the Dollar would fall apart over the next 2 quarters, I would have told you that precious metals are likely doing well in that environment. I would have also said that Silver would outperform Gold during that period.

In this case I would have been absolutely right.

Great.

But what I would have also been confident about is foreign equities doing well in that weaker Dollar environment.