The market overall was up and away today.
We have CPI data for June coming out at 8:30 a.m. ET and more Fed speakers on the schedule for tomorrow.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market overall was up and away today.
We have CPI data for June coming out at 8:30 a.m. ET and more Fed speakers on the schedule for tomorrow.
by David
The largest insider buy on today’s list comes in a 13G filing by Mackenzie Financial Corporation.
The Canadian investment firm revealed an increase in its ownership stake in CAE Inc $CAE from 7.30% to 10.05%.
by David
From the Desk of Kimmy Sokoloff
Today we have a Fed speaker and tomorrow we have CPI.
$IWM is clearly trying for 190, and all’s right with stocks.
From the Desk of Steve Strazza @Sstrazza.
Welcome back to Under The Hood, where we’ll cover all the action for the week ended July 7, 2023. We publish this report on a bi-weekly basis, rotating it with The Minor Leaguers.
What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.
We use a variety of sources to generate the list of most popular names.
There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.
Click here for a behind-the-scenes look at our process.
Whether we’re measuring increasing interest based on large institutional purchases, unusual options activity, or simply our proprietary lists of trending tickers, there’s a lot of overlap.
From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts
This is one of our favorite bottom-up scans: Follow the Flow.
In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.
We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.
Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.
We also weed out hedging activity and ensure there are no offsetting trades that either neutralize or cap the risk on these unusual options trades.
What remains is a list of stocks that large financial institutions are putting big money behind.
And they’re doing so for one reason only: because they think the stock is about to move in their direction and make them a pretty penny.
Then we flip through our list of stocks flashing unusual activity and pick the best setups using many of the same technical filters we do for our other scans.
And, just like that, we’ll follow the money flow and fatten our own pockets along with some of the world’s most powerful financial institutions.
by David
From the Desk of Kimmy Sokoloff
It was a mixed day overall, with Big Tech lagging.
$IWM was the clear leader and has potential to 190.
by David
The largest insider buy on today’s list comes in a Form 4 filing by Daniel David Daniel III, director of Domo Inc $DOMO.
Daniel reported a purchase of 26,400 DOMO shares, equivalent to $357,580.
by David
From the Desk of Kimmy Sokoloff
We have a big week ahead of us, with quite a few Fed speakers and CPI.
$SPY and $QQQ reversed lower on Friday, and the oil services sector was on fire.
Question is, will it continue. I’ll be watching some of these names.