We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today:

From the Desk of Kimmy Sokoloff

As of this morning we filled a gap on $SPY at 390.65.

If we continue to stay below 390, there's potential to see 386. 

Today’s Hot List is a short one, as insider activity has cooled with the broader equity market this week.

The only insider transaction was a Form 4 filing by EcoR1 Capital LLC.

The underperformance out of U.S. Large-cap Growth indexes continues.

It's not the stock market's fault that the S&P500 has way too much exposure to large-cap growth.

And when we talk about "the stock market", there are countries outside of the United States that continue to shine.

Today's Chart of the Day shows the S&P500 hitting new 52-week lows relative to Developed Countries outside of North America:

It's the weekly currency edition of What the FICC?

The US dollar index $DXY registered a "death cross" last week, confirming a bearish trend reversal.

But it's not the confirmation of the dollar downtrend that has my attention. It's what the signal suggests for stocks in the coming months and quarters.

Check it out!

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.

Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey...

From the Desk of Kimmy Sokoloff

The market took a breather today. $SPY hit 400 and backed off again.

We broke below the 200-day moving average and the eight-day moving average at 393.10. 

From the desk of Willie Delwiche.

Dynamic Portfolio Update: With new highs outpacing new lows every day so far this year, our net new high A/D line has turned higher and moved our "Fear or Strength" tactical model into its bullish zone. We are following the model and increasing risk exposure in the Tactical Opportunity portfolio.

From the desk of Willie Delwiche.

The Investors Intelligence measure of advisory services sentiment shows Bulls rising to their highest level in over a year. Bears have not (yet) undercut their summer lows and the Bull-Bear spread is still just below its August peak.    

Why It Matters: We need bulls to have a bull market. This flies in the face of a desire to only see sentiment from a contrarian perspective. The way I learned it, it pays to go with the crowd until it  reverses at an extreme. After the persistent and excessive pessimism of 2022 (which was certainly present in word if not deed), the best prospects for a sustained rally at this juncture is for investors to shift their attitudes and embrace stocks. A failure for investors to turn more optimistic at this juncture could hasten a longer-term positioning re-balance. We have gotten hints of that in recent weeks as ETF flows show investors eschewing US equities in favor of international equities and fixed income ETFs.  

In this week’s Sentiment Report we...

I'm about to show you what a healthy chart off the bear market lows looks like. One of the beautiful things about this chart is it's not heavily reliant on any one company.

This is a sector ETF for a corner of the stock market we believe should continue to do well for the foreseeable future. There will be winners and losers within the sector, and we don't know which ones will ultimately be the leaders, so why not just trade 'em all?

Additionally, trading the sector ETF significantly lessens any earnings-related or product announcement or FDA-approval-driven gap risk.

We've adjusted a position in the Paid-to-Play portfolio today:

This is a question I've been getting a lot.

"JC, how could you say we're already in the 8th Month of a new bull market???"

The things people call me over email or on twitter are not something I would repeat in front of my mother, or daughter, and certainly not in front of any of you guys.

But I'm a big boy. I spent a lot of time on trading floors, dugouts and locker rooms. I've heard way worse.

It is interesting, however, to observe the feedback I get from just some basic arithmetic.

This isn't like some random opinion I have about the economy, or Fed policy or earnings. This is just 3rd grade math.

Are more stocks going up? Are more stocks making new highs? Or are more stocks going down and making new lows?

Since June, the answer has been up and certainly not...