From the Desk of Kimmy Sokoloff

Well, they don't call it Schlump Day for nothing.

The market is getting hit this morning, as the bank mess could be spilling over to other sector.

Today, I'm watching to see how $SPY holds on to the 384 level. If not, we can head back down to 380.

This is the video recording of the March 15, 2023, Inside Scoop Weekly Strategy Session.

From the Desk of Kimmy Sokoloff

The $SPX rallied right to its 200-moving average, and it was rejected.

We bounced in the morning due to CPI, which was bullish for the market. Unfortunately the market is worried about other things.

Banks are really stinking up the joint.

The regional banking panic that began last week has caused a drastic repricing of financial stocks. 

As selling pressure accelerates for a variety of vulnerable banks, executives are coming out and buying shares in an effort to shore up the volatility and put a vote of confidence in their stock.

From the Desk of Kimmy Sokoloff

We've got CPI up at bat this morning.

I'm sure we'll see wild swings, so it's hard for me to pick a stock before the data.

From the desk of Steve Strazza @Sstrazza

Welcome to our latest Minor Leaguers report.

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, a company must have a market cap between $1 and $4B.

From the Desk of Steve Strazza @sstrazza and Alfonso Depablos @Alfcharts

This is one of our favorite bottom-up scans: Follow the Flow.

In this note, we simply create a universe of stocks that experienced the most unusual options activity — either bullish or bearish, but not both.

We utilize options experts, both internally and through our partnership with The TradeXchange. Then, we dig through the level 2 details and do all the work upfront for our clients.

Our goal is to isolate only those options market splashes that represent levered and high-conviction, directional bets.

From the Desk of Kimmy Sokoloff

Overall, I'll give the market credit: It hung on most of the day.

Tomorrow morning we have a CPI report, so that may be a different story.

The most significant insider transaction on today’s list comes in a 13D from Carl Icahn reporting an increase in his Southwest Gas Holdings $SWX stake.

Icahn now owns 12.64% of outstanding shares, a significant change from the 9.8% he reported on October 26.

From the Desk of Kimmy Sokoloff

The market is very erratic right now.

Last night the futures were as high as 3,970, and now we're back to 3,900.

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

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

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

Here’s this week’s list:

The largest insider buy on today's list comes in a Form 4 filing by Energy Holding Corp.

The firm revealed a $21 million purchase of Tecnoglass $TGLS shares.