From the Desk of Kimmy Sokoloff

This market can't get its act together.

It started off strong, then it faltered.

The largest insider buy on today’s list comes in a Form 4 filing by Bihua Chen, the CEO of Cormorant Asset Management.

Chen revealed a purchase of $16.7 million in MoonLake Immunotherapeutics $MLTX.

From the Desk of Kimmy Sokoloff

We saw a swift reversal down in the indices yesterday after the Fed's rate-hike announcement.

Now we need to see if we stabilize in here to trend back up or break down.

We don't have bull markets without Financials.

Go back and check for yourself.

So this one, by definition, has to be the chart that matters the most.

Look at the Financial Sector Index currently retesting its former highs from before the Great Financial Crisis:

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

It was a sleepy morning for the market...

And, of course, that changed as the day went on.

The largest insider buy on today’s list comes in a Form 4 filing by Steven Klinsky, a director of New Mountain Finance Corporation $NMFC.

Klinsky reported a purchase of roughly $1.1 million.

From the Desk of Kimmy Sokoloff

It's a big day today.

Will the Fed raise by 50 basis points or 25 basis points? Or will it do nothing? I'm thinking 25 basis points.

However it turns out, expect volatility.

This is the video recording of the March 22, 2023, Inside Scoop Weekly Strategy Session.

From the Desk of Kimmy Sokoloff

It was a nice day in the market overall.

We gapped up but didn't pull back into yesterday's high on the indices.

The largest insider buy on today’s list comes in a Form 4 filing by Joe Craft, president and CEO of Alliance Resource Partners $ARLP.

Craft reported a purchase of roughly $2.7 million.

From the Desk of Kimmy Sokoloff

The market is gapping up nicely into the next resistance zone.

For $SPY, we have to watch this 396.50 area. If it can clear this level, there's room to 400.

Otherwise it's back down to 393 or so.