In today's Daily Digest, we'll review:

1. No new positions today.
2. Adjustment to TLT position.
3. No exits today.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a series of Form 4 filings by Gilead Sciences.

The American biopharmaceutical company revealed a purchase of roughly $320 million in Arcus Biosciences Inc $RCUS, increasing its ownership stake to 40%.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a series of Form 4 filings by GSK plc.

The British multinational pharmaceutical company reported a purchase of $16.5 million in Wave Life Sciences Ltd $WVE.

When you wake up knowing that you have a fresh batch of Monthly Candlesticks waiting for you at the end of the day, it's a great feeling.

Enjoy it.

But I believe it also helps to be grateful.

I think you have to be.

Just think about all of the less fortunate investors around the world who don't get to appreciate such a feeling.

In some cases, it's just because they're lazy and don't feel like doing the work. It does take all of 15 minutes.

But in most cases, they don't even know.

They have no idea how much information and perspective their losing out on.

It's a great arbitrage that I'm happy to celebrate with all of you every month.

This is the cheat code!

From the Desk of Ian Culley @IanCulley

The entire marketplace is fixated on tomorrow’s FOMC meeting.

Will the Fed make its first rate cut in March, or will it be in June?

Who knows.

I enjoy speculating as much as the next guy, but I’m not into guessing on next moves by central bankers.

I prefer to track another market participant with a Ph.D. in economics, Dr. Copper.

And we can’t discuss copper without including the Australian dollar!

Check out the Australian dollar overlaid with copper futures:

They look almost identical.

I added a 10-day rolling correlation study in the lower pane, highlighting the tight relationship over shorter time frames.

An increased bid for copper would support the current stock market rally, giving the global economy a clean bill of health. 

Dr. Copper will likely resolve in the same direction as the aussie heading into Friday’s close.

If it doesn't, the above chart suggests...

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a series of Form 4 filings by GSK plc.

The British multinational pharmaceutical company reported a purchase of $16.5 million in Wave Life Sciences Ltd $WVE.

In today's Daily Digest, we'll review:

1. New position in XBI.
2. There are no adjustments today.
3. Exit in XRT.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Steve Strazza and Alfonso Depablos

Cathie Wood’s ARK Investment Management is on our list today, as it just filed multiple 13G filings on the following stocks:

• Teladoc Health, Inc $TDOC, increasing its ownership stake from 11.43% to 12.82%;
• Intellia Therapeutics, Inc $NTLA, increasing its ownership stake from 10.52% to 12.74%;
• Recursion Pharmaceuticals, Inc $RXRX, initiating a 9.92% stake;
• Verve Therapeutics, Inc $VERV, increasing its ownership stake from 5.43% to 8.84%;
• Ginkgo Bioworks Holdings, Inc $DNA, increasing its ownership stake from 8.92% to 12.26%; and
• Twist Bioscience Corp $TWST, increasing its ownership stake from 11.60% to 12.51%.

I understand that some people are lazy and don't like to count.

I get that.

Also, journalists are NOT in the business of telling you the truth. The truth is just a commodity at this point, and that's no longer a secret. Word's gotten out. So it's either gross sensationalism or false information to get you to consume their content.

And then, of course, you have your standard charlatans who need to cherry pick data and manipulate anchor points so that they don't look as foolish for missing this entire bull market.

So what ends up happening is that if you're told something enough times, and you haven't actually done the work, you start to believe it.

"It's only Tech stocks that are driving this market"

Sound familiar?

But for those of you who actually take the time to look, you know it obviously isn't true.

From the Desk of Steve Strazza @Sstrazza

Welcome to The Minor Leaguers.

We've had some great trades come out of this small-cap-focused column since we launched it back in 2020 and started rotating it with our flagship bottom-up scan, Under the Hood.

For the first year or so, we focused only on Russell 2000 stocks with a market cap between $1 and $2B.

That was fun, but we wanted to branch out a bit and allow some new stocks to find their way onto our list.

We expanded our universe to include some mid-caps.

To make the cut for our Minor Leaguers list now, a company must have a market cap between $1 and $4B.

And it doesn't have to be a Russell component — it can be any US-listed equity. With participation expanding around the globe, we want all those ADRs in our universe.

The same price and liquidity filters are applied. Then, as always, we sort by proximity to new highs in order to...

From the Desk of Ian Culley @IanCulley

Precious metal charts aren't painting a bullish picture for investors.

Silver is underperforming gold. The Gold Miners ETF $GDX is posting new all-time lows versus the broader market. And everywhere you look, individual gold mining stocks are breaking down.

Well, not all mining stocks. One chart continues to fly high…

We got stopped out of a Wells Fargo trade a couple of weeks ago, and it looks like that was the whipsaw it needed to shake weak hands out. And since I was shaken out, I consider myself among the weak hands squad. I'm ok with that.

But given what we've seen since we were stopped out, we're getting back in for another try. This time, with tighter risk management and a longer runway.

From the Desk of Steve Strazza and Alfonso Depablos

Cathie Wood’s ARK Investment Management is on our list today, as it just filed multiple 13G filings on the following stocks:

• Teladoc Health, Inc $TDOC, increasing its ownership stake from 11.43% to 12.82%;
• Intellia Therapeutics, Inc $NTLA, increasing its ownership stake from 10.52% to 12.74%;
• Recursion Pharmaceuticals, Inc $RXRX, initiating a 9.92% stake;
• Verve Therapeutics, Inc $VERV, increasing its ownership stake from 5.43% to 8.84%;
• Ginkgo Bioworks Holdings, Inc $DNA, increasing its ownership stake from 8.92% to 12.26%; and
• Twist Bioscience Corp $TWST, increasing its ownership stake from 11.60% to 12.51%.

In today's Daily Digest, we'll review:

1. New position in KRE.
2. There are no adjustments today.
3. Exits in XHB and XBI.
4. Current status of open campaigns.

Let's dig in!

From the Desk of Ian Culley @IanCulley

Precious metal charts aren’t painting a bullish picture for investors.

Silver is underperforming gold. The Gold Miners ETF $GDX is posting new all-time lows versus the broader market. And everywhere you look, individual gold mining stocks are breaking down.

Well, not all mining stocks. One chart continues to fly high…

Check out Buenaventura S.A.A. $BVN:

BVN has gained over 70% since bouncing off last month’s lows, slicing through our initial and secondary targets. 

Now, it’s coiling in a potential bullish flag just above our risk level. 

The pennant or flag is a continuation pattern by nature, often resolving in the direction of the underlying trend.

My bias points higher toward 20, given the preceding rally. But I can’t hold BVN if it slips below 14.25. That’s our line in the sand.

If this potential bull flag fails, I imagine precious metals are a “no-touch” across the board.

The Harmony Gold Mining $HMY and Eldorado Gold $EGO breakouts likely fail in that environment. And the corrections in the bellwethers – Franco Nevada $FNV...

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a series of Form 4 filings by Elias Sabo, director and CEO of Compass Group Diversified Holdings LLC $CODI.

Sabo reported an aggregate CODI purchase worth roughly $2 million.

The S&P500, Dow Jones Industrial Average and Nasdaq100 all went out last week at new all-time highs. Again.

We're now officially in Month #20 of this bull market that began in June of 2022.

We've seen some corrections along the way, and my bet is that we see more of them this year.

One could argue that stocks have already been correcting over the past 6 weeks.