All eyes on Technology today, with $NVDA reporting earnings later this afternoon.

But I'd like to add some different perspective than what you might here on twitter or perhaps on these basic cable networks that no one watches anymore.

There's a reason people keep coming to us for answers.

First of all, let's keep in mind where Technology even is relative to where it's been.

This underperformance we've seen from Large-cap Tech started as soon as it hit the March 2000 highs relative to the S&P500.

It took Technology over 24 years just to get back to where it was at the peak of the dot com bubble.

And that's where we sit today (they won't show you this chart on basic cable):

The most significant insider purchase on today's list comes via a 13G filing by Biglari Capital Corp.

The private investment firm announced that it has raised its ownership stake in El Pollo Loco Holdings $LOCO from 13.50% to 14.99%.

Jerry Jones has made another purchase of Comstock Resources $CRK shares, this time investing a total of $19,395,165.

Here’s The Hot Corner, with data from August 27, 2024:

In today’s Daily Digest, we’ll review the following:

1. No new positions today.
2. Adjustment to XLP position.
3. No exits since the last report.
4. Current status of open campaigns.

Let’s dig in!

The fact that Intel is still in the Dow Jones Industrial Average is a joke.

Intel became one of the first 2 companies that trade on the Nasdaq to be included in the Dow. That was way back in 1999 (Microsoft being the 2nd one).

But that was 25 years ago.

Times have changed.

And yet, despite the criminal underperformance from Intel since then, the Dow Jones Industrial Average closed yesterday at another NEW All-time High:

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved. 

When we can check both boxes, we identify asymmetric risk/reward setups and then jump in and ride these trends higher alongside the smart money.

Let’s get...

The most significant insider purchase on today's list comes via a Form 4 filing by Abdiel Capital LP, which revealed a purchase of roughly $4 million in Appian Corporation $APPN.

CFO John R. Rettig bought 21,124 shares of Bill.com Holdings Inc $BILL, equivalent to roughly $3 million.

Here’s The Hot Corner, with data from August 26, 2024:

Gold has not only been shining in absolute terms but is also dramatically outperforming the broader commodity complex.

While energy chops around in a multi-year range and cattle carve out a distribution pattern, the glittering ore refuses to quit printing new all-time highs.

This $NVDA earnings release on Wednesday gives Wall Street a look inside the largest component of America's most important industry.

Thousands of Traders have already signed up and downloaded our Special $NVDA Earnings Preview.

You guys know me. I don't normally overreact when it comes to quarterly earnings. 

From the Desk of Steve Strazza @Sstrazza

Welcome to The Minor Leaguers.

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.

Nowadays, 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 new highs in order...

My Commodities desk put out a trade of the week that we're going to jump into with options as well.

No need for a long preamble. It's a bull market and we're acting accordingly.

In today’s Daily Digest, we’ll review the following:

1. No new positions today.
2. Rolled XRT position to October.
3. No exits since the last report.
4. Current status of open campaigns.

Let’s dig in!

We're seeing stocks go up.

In bull markets, that actually happens quite often.

We just saw new all-time highs in the Dow Jones Industrial Average, S&P500 (market-cap weighted), S&P500 (equally-weighted), NYSE Composite Index, NYSE Advance-Decline and so much more. Check that out here.

But it's not just a U.S. thing. Look at all the other countries around the world.

This table below shows all the ACWI markets and where their prices are relative to various moving averages - ranging from short-term (10-day) up to long-term (200-day).

Notice how all the developed markets are above all of their moving averages, no matter how short-term or long-term they are:...

The most significant insider buy on today’s list comes via a Form 4 filing by Greenoaks Capital Partners LLC.

The investment firm reported an additional purchase of $6.8 million in Coupang Inc $CPNG.

RTW Investments LP filed a 13D for Avidity Biosciences $RNA revealing an increase in ownership from 7.45% to 9.99%.

Here’s The Hot Corner, with data from August 23, 2024:

It's a big week for Semiconductors.

Nvidia, the largest of all of them by far, reports their earnings this Wednesday 8/28.

We're hosting a LIVE stream starting at 3:45PM ET Wednesday as we monitor the market's reaction to what is probably the most important earnings report of the quarter.

In fact, we think this earnings release is so important, that we put together a FREE Nvidia Earnings Preview to get you prepared for Wednesday's big event.

Again, to be clear, we're not so much interested in the numbers themselves (i.e. Revenues, EPS, etc), but it's actually how the market reacts to those earnings that we're most focused on.

And we want you to be prepared.

You can download our NVDA Earnings Preview here....

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

Imagine waking up every day trying to make up reasons for why it's bearish when the Equally-weighted S&P500 is making new all-time highs?

There are people out there who are purposely going out of their way to blatantly lie to people about how historically bearish it is when market breadth is expanding, and more and more stocks are making new highs.

It's like a weird fetish or something. These people need help.

Here's what they're so angry about and why they think the market is about to fall apart:

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 Moderna, Square, and Snap.

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

We filter out any laggards that are down -5% or more relative to the S&P 500 over the trailing month.

Then, we sort the...

You guys know that I like to categorize certain things as being the "most important."

The Dow Jones Industrial Average is the world's most important index. The financial crisis highs are some of the most important levels in market history. 

And believe me when I say, semiconductors are the most important industry group in America right now, maybe even the world.

Why do I say this? Just look at the explosive growth. This is a group that just 5 years ago only had 3 companies worth more than $100 billion in market cap—Broadcom, Texas Instruments, and Taiwan Semiconductor. 

Today there are 13 semis over that threshold, including the grandaddy of them all, Nvidia. 

The growth here is so staggering, so unlike anything we have ever seen from one industry group, that we had to put together a...