From the desk of Steve Strazza @Sstrazza
From a technical perspective, this rocky market is offering us limited opportunities on the long side.
While we continue to approach most equities with caution, insiders are buying into the volatility aggressively. According to data from Whalewisdom, the ratio of insider buys versus sales hasn’t been this high since early 2020.
While this is bullish, we still aren’t seeing much in terms of price confirmation.
Something we are seeing is plenty of options to choose from on our Inside Scoop list.
But while insiders are buying hand over first, the current environment warrants us to be far more selective. We only want to be in those setups that are offering the best risk/reward opportunities.
This week, we have our eyes on a mid-cap materials name that is coiling just beneath all-time highs.
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