From the Desk of Kimmy Sokoloff

It's Friday again, and it's options expiration again.

Trading can be harder on days like these, so it's a good idea to trade smaller.

From the Desk of Kimmy Sokoloff

Even though the indices trended higher today, it felt like we weren't moving at all.

Tomorrow is Friday, and for the past few weeks they've been running the market higher.

If this is a bull market, then what comes next?

Breadth Expansion.

More upside participation.

Sector Rotation.

The list of the 52-week highs getting longer.

We've been betting that this is a bull market since last year. That has worked in our favor.

But what does the market need to do to reiterate that we are still, in fact, in a strong, healthy bull market?

More new highs.

Here's a look at the NYSE new 52-week highs list creeping higher in recent weeks.

The largest insider buy on today's list comes in a Form 4 filing by the executive vice president and chief people officer of Stericycle $SRCL.

That purchase was worth $308,618.

From the Desk of Kimmy Sokoloff

Let see what today brings.

I still think it would be healthy for the indices to pull in further.

$SPY closing its gap down to 422.92 would be a decent contraction.

From the Desk of Steve Strazza @Sstrazza

Welcome to The 2 to 100 Club.

As many of you know, something we've been working on internally is using various bottom-up tools and scans to complement our top-down approach. It's really been working for us!

One way we're doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B). 

Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.

But the scan doesn't just end there.

We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.

From the Desk of Kimmy Sokoloff

It was a consolidation day for most of the indices, except $IWM.

I'd still like to see $SPY pull back to 423, but time will tell.

This is the video recording of the June 7, 2023, Hot Corner Insider Weekly Strategy Session.

The largest insider buy on today's list comes in a Form 4 filing by Diversified Healthcare Trust $DHC director Adam Portnoy.

Portnoy reported a purchase of $9.8 million in the small-cap health care REIT.

From the Desk of Kimmy Sokoloff

The indices are kind of flat this morning.

Yesterday there was a lot of movement in names, names that haven't moved in quite some time.

From the Desk of Kimmy Sokoloff

$IWM led the pack today, up almost 3%.

Banks started to rally as well.

Time will tell if this continues.

The largest insider buy on today's list comes in a Form 4 filing by Artal Group SA.

The firm reported a purchase of 27,775,050 shares, equivalent to $72.2 million in Lexicon Pharmaceuticals, Inc. $LXRX.