The largest insider transaction on today's list is a Form 4 filing by Durable Capital Partners LP.

After disclosing a purchase of roughly $25 million in Duolingo Inc $DUOL, the firm now owns 9% of the language-learning platform.

Are you noticing?

Energy stocks continue to push up against new highs.

The Integrated names, Oil Services, the Explorers & Producers.

They're all still at or near new 52-week highs.

The kicker? It's all happening with Crude Oil in the midst of a 26% drawdown:

We discussed this at length on Tuesday night (re-watch here).

Large-cap Healthcare.

And there's an element of defense to it as well. Let's not get it twisted:

You see how large-cap healthcare does when stocks are under pressure?

Pretty good huh?

Look at the size of some of these bases:

It’s been a wild few weeks of insider activity.

Today, we have another big splash, brought to us by Warren Buffett’s Berkshire Hathaway $BRK.A.

The investment conglomerate filed both a Form 3 and a Form 4 last night, revealing a brand new position worth roughly $4.2 billion in HP Inc $HPQ.

For this week's trade, we're selling an $XLI May 97/105 Strangle for approximately $2.85 net credit. This means we're naked short both the 97 puts and the 105 calls.

Get the full details, risk management procedures and targets for this trade here:

We debuted a new scan recently- The Outperformers.

The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.

The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.

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.

This is the video recording of our April 6, 2022, Inside Scoop Weekly Strategy Session.

Before we dive into today’s note, we have an update on the Elon-versus-Twitter saga that’s been unfolding all week.

On Tuesday evening, Musk finally filed the appropriate Form 13D we were waiting for, reflecting his intentions as an “active” shareholder.

This is the video recording of our April 5th Monthly Charts Live Strategy Session

From the desk of Steve Strazza @Sstrazza

One of the overarching themes since we launched the Inside Scoop and began writing about The Hot List each day has been the relentless interest in commodity stocks.

Coincidentally, these same stocks have exhibited incredible relative strength over this time period. It’s already been a few months, but we’re not seeing any signs of this trend slowing down.

We discussed a lot of these names during last week’s live strategy session. Click here to watch the replay and to download the accompanying chartbook.

And be sure to join us tomorrow at 1:00 p.m. ET for this week’s live strategy session.

Today, we’re going to talk about some new long setups that we’re getting involved with.