From the desk of Steve Strazza @Sstrazza

Monday night we held our March Monthly Conference Call, which Premium Members can access and rewatch here.

In this post, we’ll do our best to summarize it by highlighting five of the most important charts and/or themes we covered, along with commentary on each

Let’s get right into it!

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.

In bull markets you regularly see more and more stocks making new highs.

That's just a normal characteristic of this type of market environment.

Yesterday we saw a ton of stocks making new 52-week highs - names like Nvidia, AstraZeneca, Salesforce, Lockheed Martin, General Electric, Chipotle, Autozone, Motorola, Lennar and many others.

However, in aggregate we have yet to see that key breakout in breadth expansion in the new 52-week highs list.

The new lows list is non existent. It's been that way since the 4th quarter last year.

But where the new highs at?

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

The hedge fund revealed an additional purchase of roughly $4.2 million in Frontier Communications Parent $FYBR.

From the Desk of Kimmy Sokoloff

It's been a slow grind up and a real tug of war for the indices.

The market seems really tired, but it hasn't broken down.

This is the video recording of the April 19, 2023, Inside Scoop Weekly Strategy Session.

From the Desk of Kimmy Sokoloff

The common theme over the past week has been to grind lower in the morning and then move back up in the indices.

It doesn't really feel like we're moving at all.

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

Cormorant revealed a purchase of roughly $25 million in Ambrx Biopharma $AMAM.

From the Desk of Kimmy Sokoloff

Futures are up nicely this morning, and $SPY is above 415.

We need to hold this level to head up to 421.

Thanks to everyone who joined us LIVE last night for our Mid-Month Conference Call.

Premium Members can access the video here and download all the slides.

Throughout the call we discussed how we want to continue to profit from this raging bull market in stocks.

The list of participants in this bull keeps getting longer, not shorter. We're seeing more and more stocks going up, more sectors and more countries around the world participating to the upside.

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

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.