From the Desk of Steve Strazza @Sstrazza

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Uber and Crowdstrike.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

Here’s this week’s list:

*Click table to enlarge view

From the Desk of Steve Strazza and Alfonso Depablos

The only insider buy on today's list comes via a Form 4 filing by Entrada Therapeutics Inc $TRDA director Peter S. Kim.

Kim reported the acquisition of 25,000 shares, equivalent to $364,672, in the small-cap biotech company.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today's list comes via a Form 4 filing by Lorenzo Joseph Fertitta, vice president of Red Rock Resorts $RRR.

Fertitta reported a purchase of 800,000 RRR shares, equivalent to $40 million.

Stock prices don't go straight up, even during bull markets.

Corrections are a normal phenomenon.

Messy market environments are perfectly normal too.

And that's exactly what we've seen.

To be clear, corrections and messy market environments for several months at a time do not change the fact that it's still a bull market.

We've been in a bull market for almost 2 years. That hasn't changed.

The bigger question is whether this bull market is now ready to resume? Or is more churning, sector rotation and further sentiment adjustment still necessary?

From the Desk of Steve Strazza @Sstrazza

When investing in the stock market, we always want to approach it as "a market of stocks."

Regardless of the environment, there are always stocks showing leadership and trending higher.

We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.

The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too. 

We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.

We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics. 

Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.

Now, we're also highlighting lagging stocks on a recurring basis.

Welcome to the Short Report.

S&P500 New All-time Highs

Nasdaq Composite New All-time Highs

NYSE Composite New All-time Highs

Dow Jones Industrial Average New All-time Highs

Are you noticing a trend?

And it's not just 7 stocks either.

Actually the Russell3000 Index just hit New All-time Highs as well. This index represents approximately 98% of all investable assets in the U.S. Equities market.

Here it is breaking records before your very eyes:

This is the video recording of the May 2024 Mid-month Conference Call.

This is the video recording of the May 15, 2024, Hot Corner Insider Weekly Strategy Session.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today's list comes via a Form 4 filing by Jared Isaacman, founder and CEO of Shift4 Payments Inc $FOUR.

Isaacman reported a FOUR purchase of approximately $5.7 million.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today's list comes via two Form 4 filings by Bleichroeder LP.

The hedge fund bought 800,000 shares of CompoSecure Inc. $CMPO for a total of $5.2 million.

Look at this squeeze in GameStop $GME happening as we speak.

$GME more than doubled in price yesterday, finally closing up 75% on the day. That's a 200% rally in just a couple of weeks.

$GME is up another 90% pre-market today, as of the time of this writing...

From the Desk of Steve Strazza @Sstrazza.

Welcome back to Under the Hood, where we'll cover all the action for the two weeks ended May 10, 2024. This report is published bi-weekly, in rotation 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.