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.

We also weed out hedging activity and ensure there are no offsetting trades that either neutralize or cap the risk on these unusual options trades.

What remains is a list of stocks that large financial institutions are putting big money behind.

And they’re doing so for one reason only: because they think...

From the Desk of Kimmy Sokoloff

This is a very choppy market.

$SPY bumped up to resistance at 445 then dropped lower.

We can stay volatile this whole week.

From the Desk of Steve Strazza and Alfonso Depablos

The most significant insider purchase on today's list comes from Wayne P. Rothbaum, director of Iovance Biotherapeutics $IOVA.

Rothbaum declared a $26.5 million IOVA purchase in a Form 4 filing.

From the Desk of Kimmy Sokoloff

Let's see what this week brings, as we have the FOMC on Wednesday.

Next support down on $SPY is 440.

The stock market correction continues....

What else would you expect during this seasonally weak period for stocks?

Historically, stocks do very well after mid-term elections. And that's exactly what happened.

Then in Q3 the struggle tends begin for a few months.

And that's precisely what we've seen this year. A perfectly normal market:

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

Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.

We've also sprinkled in some of the largest ADRs from countries that did not make the market cap cut. 

These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.

It's got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.

The beauty of these scans is really in their simplicity.

We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.

Based on the market environment, we can also flip the scan on its head and filter for weakness.

Let's dive in and take a look at some of the most important stocks from around the world.

Here's this week's list:

...

From the Desk of Kimmy Sokoloff

Happy New Year to those who celebrate Rosh Hashanah!

The market took a nosedive today.

And there's potential for continued weakness next week.

This is the video recording of the September 15, 2023, Hot Corner Insider Weekly Strategy Session.

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Biotechnology Value Fund LP.

The hedge fund revealed a purchase of roughly $14.8 million in Olema Pharmaceuticals $OLMA.

From the Desk of Kimmy Sokoloff

That was a big day for the market yesterday, but it still felt slow or weak up until noon.

We have potential to see 455 on $SPY if we continue to hold 447.

We just saw a $50 Billion Tech IPO successfully issued into public markets.

Remember those?

But before we get into growth stocks, let's just put the overall market into perspective.

It was nice to get away from the screens for a few days, while we were out at Future Proof in California. But not much has changed now that I'm back home.

Here's a shot of us during my panel discussion at the Conference:

From the Desk of Kimmy Sokoloff

The market tracked higher most of the day, with $SPY closing that 449.17 gap I mentioned this morning.