The largest insider buy on today’s list comes in a Form 4 filing by Bihua Chen on behalf of Helix Holdings LLC.
Helix revealed an additional purchase of $40 million in MoonLake Immunotherapeutics $MLTX.
Expert technical analysis of financial markets by JC Parets
by David
The largest insider buy on today’s list comes in a Form 4 filing by Bihua Chen on behalf of Helix Holdings LLC.
Helix revealed an additional purchase of $40 million in MoonLake Immunotherapeutics $MLTX.
by David
From the Desk of Kimmy Sokoloff
$SPY is consolidating up at the 440 level. Should we break it, we can see 438.
The market is digesting the minutes from the June Fed meeting that were released yesterday, and the odds of a rate hike at the July 25-26 meeting have increased.
by David
This is the video recording of the July 5, 2023, Hot Corner Insider Weekly Strategy Session.
by JC
This is the video recording of our July 5th Monthly Charts Live Strategy Session
From the Desk of Steve Strazza @Sstrazza
Welcome to The 2 to 100 Club.
As many of you know, something we’ve been working on internally is using various bottom-up tools and scans to complement our top-down approach.
It’s really been working for us!
One way we’re doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn’t just end there.
We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on Technology and Growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
by David
From the Desk of Kimmy Sokoloff
It was a slow day today, as you might expect on a Wednesday after a Tuesday holiday in July, and I believe the rest of the week will be this way.
Looks and feels like most traders have taken the week off.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
The new highs list continues to grow as more and more stocks resolve higher from their consolidations.
The word “rotation” is being thrown around a lot these days as value and cyclical groups have risen to the top of the leaderboard over short timeframes.
While the action can be categorized as rotation, I think a better description for what’s taking place is a broadening of the current rally.
Every single sector was higher in the month of June. So it’s not that money is coming out of the leaders as much as it is going into the laggards at an increasing rate.
At the end of the day it’s just semantics. What this expansion in participation means for investors is more bullish chart patterns and more long opportunities.
Let’s talk about some new ones from our Hot Corner universe.
by David
Today’s Hot List is a short one.
Director Richard F. LaRoche filed a Form 4 revealing a purchase of 2,100 shares of National HealthCare Corporation $NHC.