From the Desk of Kimmy Sokoloff

It was a steady decline most of the day.

We hit resistance on the indices, and they all reversed.

The largest insider transaction on today’s list comes in a Form 4 filed by Sylebra Capital Ltd.

The hedge fund reported an additional purchase of $2.8 million in Impinj $PI.

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.

From the Desk of Kimmy Sokoloff

$SPY is now above its moving average.

I mentioned two days ago in the Morning Briefing that a move above 441 can send it to 444.

Here we are.

This is the video recording of the August 2023 Mid-month Conference Call.

From the Desk of Kimmy Sokoloff

We saw a nice bounce in the market today.

$NVDA reports after the bell, so that will have some importance tomorrow.

This is the video recording of the August 23, 2023, Hot Corner Insider Weekly Strategy Session.

The largest insider transaction on today’s list comes in a Form 4 filed by JANA Partners.

The investment management company revealed a purchase of $1.9 million in Mercury Systems $MRCY.

From the Desk of Kimmy Sokoloff

The dollar is rising, and it's above its 200-day moving average. $SPY is still under resistance at 440.60.

I'll be truthful, not many names are interesting to me. Retail is taking a beating.

Maybe we can bottom-fish, although it's very risky.

From the Desk of Kimmy Sokoloff

It's a very sloppy and choppy market, and it's hard to trade.

$SPY closed its opening gap up.

The largest insider transaction on today’s list comes in a Form 4 filed by Kelcy Warren, chairman and CEO of Energy Transfer Partners $ET.

Warren reported a purchase of roughly $38.8 million.

From the Desk of Kimmy Sokoloff

On Monday morning I said $SPY could have potential to 441, and on Tuesday morning we're there.

That was a nice reversal yesterday off the 435 level, and now the question is will we push to 444.