From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Selling pressure is spreading among cyclical groups, but we continue to find plenty of bullish chart setups in names with insider activity.
Most of the stocks we're buying these days are concentrated in growth industries, but there's also a healthy mix of consumer names that are trending well.
We even have an insurance stock in today's report. It's rare to find a financial making new highs in today's environment, which is all the more reason to like it.
Let's dive in and talk about some stocks we're buying right now.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
While financials and cyclical areas of the market have been under pressure the past few weeks, technology and other leadership groups have been resilient.
In fact, despite the latest banking sector volatility, we continue to find plenty of opportunities in growth stocks.
However, it's not just growth. We're seeing strength from risk-on groups like homebuilders, in addition to consumer stocks from both offensive and defensive industries.
Overall, we continue to see healthy rotation from the broader market.
Today, we have a consumer discretionary name everyone should be familiar with. Let's get into it.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
I'm in New York City along with the rest of the All Star Charts team for the annual CMT symposium this week, so there's no Inside Scoop Weekly Strategy Session today.
We'll be back with our regular schedule next week.
For today, we figured we'd do a quick post discussing some of the macro themes we're watching right now, as well as a trade idea in one of our favorite names.
