Every day, we sift through the filings to spot where the real conviction lies – cutting through the noise to highlight the most meaningful insider moves.

Here's what stood out today:

📌 Sonos Inc $SONO – Coliseum Capital is back again with a $4.25 million Form 4.

This is their second major buy in the name this month. Coliseum’s clearly not done accumulating – and they rarely play small.

📌 Prospect Capital $PSEC – CEO John Barry just filed for a $1.99 million open-market buy.

That’s a big swing for a name that’s been under heavy pressure. Insider buying this size in the asset management space doesn’t happen without a conviction. 

While the stock presses against new all-time lows, it's important to note that it pays a nearly 20% dividend yield. 

Here’s The Hot Corner, with data from June 24, 2025:

Looking at our US Index Power Rankings, it's clear that large-cap growth continues to lead the way. Both the Nasdaq 100 ($QQQ) and Large Cap Growth ($IWF) are firmly in the green.

In contrast, small caps and value names are still lagging.

What stands out, though, is that even the strongest US indices remain below their 2025 highs—while global equities and many international indexes have already broken out to new highs and entered price discovery.

It’s a timely reminder that while selectivity matters, our opportunity set as investors extends well beyond the US. There’s a growing list of attractive setups globally—and it might be time to cast a wider net.

Today's number is... 86

It took just 86 trading days for the Nasdaq 100 to shake off its latest 23% slide and punch out a new all-time high yesterday.

Here’s the chart:

Let's break down what the chart shows:

• The black line in the top panel shows the Nasdaq 100 with each all-time high marked by the blue step line.
• The red line in the bottom panel tracks drawdowns from all-time highs.

The Takeaway: Since 1990, the Nasdaq 100 has experienced seven major drawdowns where it fell more than 20% from its highs. The latest drop — a 23% slide from February to April — now ranks as the third-fastest recovery on record.

Only two rebounds were quicker: the Covid crash in 2020, which took just 75 trading days to reclaim its highs, and the 1998 correction, which took 80.

This one took 86.

That puts the 2025 recovery well ahead of the 2018 selloff, the early-90s recession, and the 2021–23 decline. 

And it’s in another league entirely from the post-2000 collapse, which took nearly 4,000...

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“Bull market shirts tomorrow, boys!”

That’s the message circulating internally.

And in case you haven’t heard… It’s because we’re in a bull market.

And today, the evidence is overwhelming.

It doesn’t matter what the headlines say. It doesn’t matter what the journalists dressed as economists are warning about. Investors are looking through it all — and they continue to embrace risk.

Some are still fighting it because “it doesn’t make sense.”

But guess what? The market doesn’t care. It never has.

Markets are discounting mechanisms. They process all data and they express it in one simple thing: price.

There comes a time in every bull market cycle when the worst companies are the best stocks.

And this is a feature as far as I’m concerned… not a bug. 

It speaks to the offensive nature of the market. 

We call it bullish risk appetite, and it’s happening now.

If you know what to do with this kind of market, you can make a killing renting the right stocks at the right time. 

I did a livestream with my friend Herb Greenberg today, and we caught up afterward. I always love hearing his perspective on the stocks we’re trading.

It’s tough to be bearish on some of these speculative growth names in an environment where shorts are getting squeezed, but Herb is the best in the business when it comes to flagging bad actors, so I had to ask him...

“What do you know about this...

As a trader, I live by boundaries.

Stop losses. Profit targets. They’re there for a reason. They say, “This is as far as I’m willing to go.” They define my comfort zone — both for risk and for reward.

If a trade moves beyond my stop, I start losing more than I’m okay with.

If a stock races beyond my upper price target, I start to worry it’s overextended and due for a sharp correction.

These aren’t just technical lines on a chart — they’re psychological lines in the sand. And as much as I know they’re important, I’ll admit: boundaries are hard for me.

Sometimes I break them.

Sometimes I blur them.

Sometimes I forget why I set them in the first place.

And the more time I spend in the markets, the more I realize:

Trading teaches me about far more than markets — it teaches me about me.

Every time I ignore a stop loss or stretch a target, I’m not just failing as a trader — I’m revealing something deeper about how I operate. Because when I struggle to hold boundaries in my trading, it’s usually because I’m struggling to hold boundaries in other parts of my life, too.

In...

In today’s Daily Digest, we’ll review the following:

1. New position in GDXJ.
2. No adjustments are needed today.
3. Closed IGV at Profit Target.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

FactSet Research Systems $FDS continues to deliver quietly.

The $16.5B data analytics giant just posted another solid quarter, and the market rewarded it with a 3.5% gain.

The company reported mixed headline results, but a closer look reveals clear signs of progress beneath the surface.

But what really got the market's attention was the announcement of Sanoke Viswanathan as the new CEO.

A former JPMorgan executive and longtime FactSet client, he brings a rare combination of operator experience and deep industry insight. 

His appointment signals a fresh, customer-centric approach at the top, and investors seem to like it.

It’s moves like these that remind shareholders why this has been one of the Financial sector’s long-term winners.

With the stock now up after 4 of the last 5 earnings reports, the trend is clear... the market continues to reward the stock for consistent execution.

This name remains one of the most quietly reliable compounders in the entire market.

So what else did we learn from this earnings report? Let’s dive into the details.

...

Middle East tensions flared up yesterday, and like clockwork, the doom headlines followed.

WWIII. Collapse. Panic. You know the drill.

But while the noise got louder, the market quietly told a different story.

Homebuilders led. 

Silver outperformed gold.

Crude oil dropped 8%. 

Staples lagged.

And Bitcoin? Back above 105K like it never even left.

That was yesterday’s tape. And it was undeniably bullish.

If this is what the end of the world looks like… we’ll take it.

Strazza just came up with a killer chart that’s...

Today's number is... 416

There have been 416 consecutive trading days the 50-day average has been above the 200-day average in the High Momentum vs. Low Momentum ratio.

Here’s the chart:

Let's break down what the chart shows:

• The black line in the top panel is the relative ratio of the Dow Jones US High Momentum Index versus the Dow Jones US Low Momentum Index.
• The black line in the bottom panel is the number of consecutive days the 50-day moving average is greater than the 200-day moving average.

The Takeaway: This is a clean, consistent trend — and one that’s gaining strength.

This ratio measures how high momentum stocks are performing relative to low momentum stocks. 

In short, it tracks whether the market is favoring leaders or laggards.

Right now, it’s all about the leaders.

The ratio has been in a steady uptrend since early 2023, carving out higher highs through orderly consolidations, and is now breaking out to fresh all-time highs with no signs of fatigue.

...

Every day, we sift through the filings to spot where the real conviction lies – cutting through the noise to highlight the most meaningful insider moves.

Here's what stood out today:

📌 Playa Hotels & Resorts $PLYA – Hyatt International Corp just filed a Form 4 showing a $14.78 million buy.

That’s a serious move from a major industry player. When the big boys are buying beachfront real estate exposure, we listen.

📌 Thor Industries $THO – Director Peter Busch Orthwein filed a Form 4 for $256,000.

Recreational vehicles aren’t exactly hot right now, but that’s often when insiders make their move. We’ll keep this one on the radar.

Here’s The Hot Corner, with data from June 23, 2025:

Click the table to enlarge it.

📌 MakeMyTrip $MMYT – GIC Private Ltd filed a new...

It’s happening.

After years of waiting, the entire precious metals complex is finally coming to life, and the charts confirm it.

Gold broke out first. 

Now, Silver, Platinum, and the miners are joining in. 

Our Equal-Weight Precious Metals Index is printing fresh all-time highs, marking what we believe is the beginning of a new secular uptrend.

Miners are starting to lead. 

Risk appetite is returning. 

And short sellers? They’re getting squeezed.

This week, we’re reviewing the latest breakout setups in the metals space, including a small-cap Silver name retesting a key level with explosive upside potential.

Sign up for my free note here.

Since yesterday afternoon, my X feed has been nothing but noise about rising tensions in the Middle East.

The headlines are loud. WWIII chatter. Panic everywhere.

Everyone’s trying to guess what happens next.

But the market’s telling a different story.

Homebuilders ripped. Offensive sectors led.

Silver outperformed gold. Crude oil dropped 8%.

Defensive stocks like staples lagged.

And Bitcoin? Back above 105K.

In the middle of all the chaos, that was the tape — and it was undeniably bullish.

If this is what the end of the world looks like…...

I’m going out for drinks tonight with a good friend who owns a real estate agency in Key West.

We’re going to talk about home prices, inventory levels, and mortgage rates… and I can’t wait.

The truth is, I’ve been thinking about the housing market a lot lately. I’m really into it.

Rose and I have decided to give the mainland a shot and are moving up to the Naples area this week. We’ll miss Key West, but we are excited about this new chapter in our lives.

We took our time searching for a place over the past year or so. In the process, I’ve spent countless hours on Zillow $Z and have looked at a variety of South Florida homebuilder communities— from Lennar $LEN to Taylor Morrison $TMHC and Pulte Homes $PHM. 

I’ve dealt with Rocket Companies $RKT, with whom I have my first mortgage. 

And this past week, it’s been all about shopping for furniture on sites like Wayfair $W.

Every major commodity boom of the last 25 years has followed the same blueprint:

🔺 CRB Index starts curling higher
🔺 Yield curve inverts… then steepens
🔺 And commodities don’t just rally—they detonate.

Look at the chart. 

2001 → Inversion → Steepening → Oil +300%
2006 → Same setup → Same outcome
2020 → Rinse and repeat

And now?

It’s happening again.

The CRB is coiling just beneath multi-year resistance. The kind of tight, coiled spring that doesn’t let go gently. Momentum is building. The yield curve—the most reliable forward indicator we’ve got—is turning up from historic depths.

This isn’t some lagging inflation print. This isn’t a Fed narrative. This is price. And price is truth.

This is a setup that only comes around a few times in a generation. Most investors sleep through it. They wait for confirmation. They miss it.

But not you.

Hemingway once said bankruptcy happens two ways: gradually, then suddenly. Commodity cycles are the same. They creep. They churn. Then they rip.

...