Today’s Hot List is a short one.
The CEOs of Nerdy $NRDY and SoFi Technologies $SOFI both filed Form 4s reporting small purchases of their own stock.
Expert technical analysis of financial markets by JC Parets
by David
Today’s Hot List is a short one.
The CEOs of Nerdy $NRDY and SoFi Technologies $SOFI both filed Form 4s reporting small purchases of their own stock.
From the desk of Steve Strazza @Sstrazza
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.
We’ve also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It’s got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let’s dive in and take a look at some of the most important stocks from around the world.
by David
Cathie Wood’s infamous ARK Investment Management is on our list today, as it just added more than 1 million shares of biotech stock Twist Bioscience $TWST.
The latest 13G reports an ownership interest of more than 11% in the synthetic DNA specialist.
by JC
When the worst stocks in the world can’t go down, what does that say about current market conditions?
Granted, I’m more into breakouts above horizontal trendlines than diagonal ones, but as Steve Strazza told me yesterday, “of course, but one comes before the other”.
When you’re right you’re right Mr. Strazza.
Here’s that breakout we were discussing: [Read more…]
by David
The largest insider buy on today’s list is a Form 4 filing by James A. Star, independent director at Chewy $CHWY.
Star disclosed the purchase of approximately $5 million worth of shares in the online pet retailer.
We debuted a new scan recently which goes by the name- All Star Momentum.
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
This is the video recording of our June 8, 2022, Inside Scoop Weekly Strategy Session.