From the Desk of Kimmy Sokoloff

It was a very volatile Friday -- up, down, and all around.

That makes for tough trading, and I told the people in the Live Trading Room the best you can do is to NOT trade today.

That being said...

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

Welcome to The Junior International Hall of Famers.

With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US-listed international stocks, or ADRs.

This scan is composed of the next 100 largest stocks by market cap, those that come after the top 100 and are thus covered by the International Hall of Famers universe.

Many of these names will someday graduate and join our original International Hall Of Famers list. The idea here is to catch these big trends as early on as possible.

Let's dive right in and check out what these future big boys are up to.

This is our Junior International Hall of Famers list:

The largest insider transaction on today’s list comes in a Form 4 filed by Sanford Robertson, director of Cassava Sciences $SAVA.

Robertson reported a purchase of SAVA shares in the amount of $523,500.

From the Desk of Kimmy Sokoloff

Happy Friday!

We can expect some volatility today, starting pretty early, due to Jerome Powell speaking at the Fed Symposium in Jackson Hole.

If the market likes what the Fed Chair has to say, $SPY could push above 440.20. If not, we can potentially see 432.

Might be hard to get movement early this morning.

The most important groups of stocks are stuck below overhead supply.

That's not usually a characteristic of strong uptrends where investors are consistently rewarded for owning stocks. That was the first half of this year.

Today, it's almost the exact opposite.

In this type of environment, investors are rewarded for selling volatility and collecting income. Investors also tend to be rewarded for avoiding these types of sectors and looking for opportunities elsewhere, in less correlated areas.

Here are 4 of the most important groups of stocks all stuck below their prior cycle's peaks:

From the Desk of Kimmy Sokoloff

It was a steady decline most of the day.

We hit resistance on the indices, and they all reversed.

The largest insider transaction on today’s list comes in a Form 4 filed by Sylebra Capital Ltd.

The hedge fund reported an additional purchase of $2.8 million in Impinj $PI.

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

$SPY is now above its moving average.

I mentioned two days ago in the Morning Briefing that a move above 441 can send it to 444.

Here we are.

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

From the Desk of Kimmy Sokoloff

We saw a nice bounce in the market today.

$NVDA reports after the bell, so that will have some importance tomorrow.

This is the video recording of the August 23, 2023, Hot Corner Insider Weekly Strategy Session.