From the desk of Steve Strazza @Sstrazza
While we managed to string together a handful of up-days at the end of last week, markets have been selling off aggressively since April. Sellers remain in full control as the list of indexes resolving lower from distribution patterns continues to grow.
Finding favorable long setups in this tape hasn’t been easy. And because Inside Scoop is a “long-only” scan, there’s been little for us to do in the current environment.
Despite this, insiders have been very active in recent weeks as we continue to see more and more come out to buy the dip.
Many of the names seeing insider interest are in severe downtrends and have already endured significant technical damage.
With that said, there are still long opportunities. We just have to look a little harder, and get a bit more creative.
Today, we have a long-term base breakout as well as a short-term mean-reversion setup. While these are very different, both offer significant upside potential with limited risk.
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