From the Desk of Steve Strazza and Alfonso Depablos
The largest insider buy on today’s list comes in a Form 4 filing by JANA Partners Management LP.
The investment firm reported a purchase of roughly $11 million in Mercury Systems Inc $MRCY.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Steve Strazza and Alfonso Depablos
The largest insider buy on today’s list comes in a Form 4 filing by JANA Partners Management LP.
The investment firm reported a purchase of roughly $11 million in Mercury Systems Inc $MRCY.
by JC
There’s a lot happening in Crypto Markets right now, in case you hadn’t heard. Bitcoin just hit $64,000. We’ll talk about all that today at 2.
But even in traditional financial markets, you’re seeing massive rotation.
How many investors do you believe are prepared for a market environment where Crude Oil prices are going up and the S&P500 is falling?
We saw that exact rotation last summer and into the Fall. But that was just the appetizer. What are you going to do when the main course gets served? [Read more…]
From the Desk of Steve Strazza @Sstrazza
Welcome to The 2 to 100 Club.
As most of you know, we use 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 Steve Strazza and Alfonso Depablos
The largest insider buy on today’s list comes in a Form 4 filing by Cary Grace, president and CEO of AMN Healthcare Services $AMN.
Grace reported a purchase of almost $1 million in AMN shares.
From the Desk of Alfonso Depablos @Alfcharts
When assessing the overall market, we are always asking a lot of the same questions. One of the more common ones is, “how are the laggards doing?”
Many times, these will be the culprits of the last bear market. Other times, they are former leaders that have lost their way.
For a healthy and sustainable bull cycle to take place, we eventually need these laggards to participate.
For the 2021 and 2022 bear, speculative growth was the poster child.
We’re talking about biotech, the ARK funds, the IPO index, online retailers, etc. These groups were absolutely decimated.
Not only did they experience some of the worst bear market drawdowns, but in 2023, when new leaders emerged, and many areas of the market began to move higher, these laggards continued to struggle.
Fast forward to today, and these groups are still repairing the technical damage from the prior cycle. With that said, the seeds have been planted for some epic bearish-to-bullish trend reversals.
We think these transitions are happening now. Let’s hit the charts and talk about it.
by JC
A lot of the major US Stock Market indexes have been having a hard time making much progress this month.
That makes sense to me because there are simply fewer and fewer stocks that are going up in price.
It’s a market of stocks, after all right?
The way I learned it was, “Don’t fight Papa Dow”.
As you can see below, Dow Futures are at the same levels they were on February 2nd. We start March this Friday.
Also, you can see momentum continue to roll over very aggressively, particularly as any new highs in the indexes failed to hold: [Read more…]
by David
From the Desk of Steve Strazza and Alfonso Depablos
The biggest item on today’s list is a filing by Rep. Nancy Pelosi.
The former Speaker of the House bought call options in Palo Alto Networks $PANW worth between $600,000 and $1,250,000.
by JC
Remember when Apple was the most important company in the world?
Wasn’t that like just a few months ago?
How convenient that it is no longer relevant, now that the stock goes down in price every day.
Apple closed yesterday at the lowest levels since early November… [Read more…]