From the Desk of Kimmy Sokoloff

It was a Fed day, not much more to say.

It was very volatile, and tomorrow we should get more of a true direction.

This is the video recording of the September 20, 2023, Hot Corner Insider Weekly Strategy Session.

From the Desk of Kimmy Sokoloff

Yesterday morning I mentioned that we could see either $SPY drop to the 435-to-437 zone or it bounce up to 447.

We’re at 435 this morning.

We’ll see if we have some oversold bounces.

From the Desk of Steve Strazza

The largest insider buy on today’s list comes in a Form 4 filing by Berkshire Hills Bancorp Inc $BHLB director Mary Anne Callahan.

Callahan reported a purchase of $357,319 in BHLB.

From the Desk of Kimmy Sokoloff

It was a Fed day, not much more to say.

It was very volatile, and tomorrow we should get more of a true direction.

The next new position in our Paid-to-Play portfolio is:

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Cormorant Asset Management LP.

The hedge fund reported a purchase of roughly $19.6 million in Ambrx Biopharma Inc $AMAM.

From the Desk of Kimmy Sokoloff

FOMC on deck!

Now we'll either see a quick pop up to 447.70 on $SPY or a drop down to 437 to 435.

Pre-market indices are trading higher.

From the Desk of Kimmy Sokoloff

It was a slow day, and the market just drifted lower.

We'll see what happens tomorrow after the FOMC announcement.

From the Desk of Ian Culley @IanCulley

Sellers beware! 

The US Dollar Index $DXY is kicking ass and taking names.

The dollar has ripped higher ever since the July failed breakdown.

It’s now challenging fresh six-month highs and a critical former resistance area. 

An upside resolution for King Dollar will undoubtedly pressure risk assets – not the ideal scenario for stock market bulls.

And the dollar rally has plenty of room to run if the DXY is a reliable indicator...

Check out the number of consecutive up-weeks in the lower pane of the US Dollar Index chart:

The DXY has finished in the green for nine consecutive weeks and counting, producing a bullish momentum thrust.

It hasn’t experienced a similar winning streak since the 2014-15...

From the Desk of Kimmy Sokoloff

FOMC on deck!

Now we’ll either see a quick pop up to 447.70 on $SPY or a drop down to 437 to 435.

Pre-market indices are trading higher.

From the Desk of Steve Strazza

The largest insider buy on today’s list comes in a Form 4 filing by Cormorant Asset Management LP.

The hedge fund reported a purchase of roughly $19.6 million in Ambrx Biopharma Inc $AMAM.

From the Desk of Kimmy Sokoloff

It was a slow day, and the market just drifted lower.

We’ll see what happens tomorrow after the FOMC announcement.

We've adjusted a position in the Paid-to-Play portfolio today:

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Thurman John Rodgers, director of Enphase Energy Inc $ENPH.

Rodgers reported a purchase of $4 million in ENPH.

From the Desk of Kimmy Sokoloff

The indices are stuck under their respective moving averages.

This is making it harder to find opportunities to trade.

Is this the world's most important trend that no one is talking about?

How many people do you know would tell you that stocks are already in their 4th year of a downtrend relative to commodities?

In other words, how many people do you know that would argue we are now in year 4 of a Commodities Supercycle?

Here's what this looks like:

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