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

There are only about 30 companies in the S&P500 that are bigger than what Nvidia is up after hours today.

That's a new all-time high for America's now 5th largest company. It's the first time it's able to breakout to new a all-time high since late 2021:

The largest insider buy on today's list comes in a Form 4 filing by Baker Bros Advisors LLC.

The hedge fund revealed a purchase of ACADIA Pharmaceuticals Inc $ACAD worth $22 million, increasing its ownership stake to 26.6%.

From the Desk of Kimmy Sokoloff

It's $NVDA's world!

What a stellar earnings report for this company.

But, at the same time, it's a crowded long.

From the Desk of Steve Strazza @Sstrazza

Welcome to the 2 to 100 Club.

As many of you know, something we've been working on internally is using various bottom-up tools and scans to complement our top-down approach. It's really been working for us!

One way we're doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).   

Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.

But the scan doesn't just end there.

We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.

Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their...

From the Desk of Kimmy Sokoloff

Wild markets today, and $DIA is riding a very fine line here. It's right at its 200-day moving average.

If it falls through, there's potential down to 322.50.

Headlines.

We all read them and they mess with our heads. It takes steadfast resolve to listen to the message of price action when everything else we read tries to trick us into doing the wrong thing.

The best way to keep ourselves level-headed when taking risks is to define that risk and trade small. There are few things more powerful than knowing with complete certainty the most I can lose, no matter what the market throws at me.

With this in mind, we're putting on a trade today in a stock that has the potential to be a real highflier if the markets stabilize and head higher following any Washington drama while limiting our risk in case we're early or wrong.

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

The largest insider buy on today's list comes in a Form 4 filing by the executive chairman of Energy Transfer $ET, Kelcy Warren.

Warren revealed an additional purchase of 750,000 ET shares, worth over $9.5 million.

From the Desk of Kimmy Sokoloff

The indices are gapping lower, and I'm watching to see how $SPY handles its 21-day moving average at 413.10.

I mentioned in the live trading room yesterday that this market has been volatile, and until the debt ceiling gets resolved it could continue.

From the Desk of Kimmy Sokoloff

It was a nice morning and $SPY was trading in a one-point range.

But the clock struck noon and things slowed then rolled over.

From the Desk of Ian Culley @IanCulley

Here we go again… 

The USD/JPY is breaking out.

I can’t think of a stronger trend than the dollar-yen last year. It absolutely ripped to the point we were joking everything priced in yen looked good – even gold!

But it wasn’t the only market trending higher at the time. The US dollar and interest rates also rallied together.

Today’s USD/JPY strength raises a painful question for many investors…

Will interest rates and the US Dollar Index $DXY follow?

Before we delve into the broader implications of a USD/JPY rally, let’s outline the setup for those who trade forex markets.

Check out the dollar-yen reaching its highest level since November 2022, completing a six-month consolidation:

...

It's a bull market, in case you haven't heard.

As such, I'm on the hunt for alpha. I'm looking for stocks that might be off the radar, but can have outsized moves when the market runs.

Today's trade offers this potential in spades.

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

The largest insider buy on today's list comes in a Form 4 filing by Dan Wilks, founder of ProFrac Holding Corp $ACDC.

Wilks revealed a purchase of 539,498 shares in ACDC, worth over $6 million.

From the Desk of Kimmy Sokoloff

The indices were pretty whippy yesterday.

I'd expect the same today until debt ceiling negotiations are completed.

The Technology Index made another new 52-week high on Monday.

This is becoming a habit.

Apple carries a huge weighting in that Index.

So as some people get distracted with how Apple's $2.75 Trillion market cap is now bigger than the entire Russell2000 Index, I'm more interested in how quickly Apple can get to $5 Trillion.

I think it can happen pretty soon.

Look at these massive moves in market cap that can happen in a relative short period of time.

From the Desk of Steve Strazza @Sstrazza

Welcome to our latest Minor Leaguers report.

We've had some great trades come out of this small-cap-focused column since we launched it back in 2020 and started rotating it with our flagship bottom-up scan, Under the Hood.

For the first year or so, we focused only on Russell 2000 stocks with a market cap between $1 and $2B.

That was fun, but we wanted to branch out a bit and allow some new stocks to find their way onto our list.

We expanded our universe to include some mid-caps.

To make the cut for our Minor Leaguers list, a company must have a market cap between $1 and $4B.

And it doesn't have to be a Russell component — it can be any US-listed equity. With participation expanding around the globe, we want all those ADRs in our universe.

The same price and liquidity filters are applied. Then, as always, we sort by proximity to...

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...