The dramatic decrease in volatility ($VIX is a good proxy for this) across the board over the past ten or so trading days is taking the starch out of my inclination for looking at delta-neutral options credit spreads. It’s getting harder to find good candidates. They are still out there, but I need to be more selective.

That said, I am open to getting long select names here. But the types of setups we’re more likely to find are ones where stocks come off nicely formed bases, rather than breaking out through key levels of resistance or all-time highs.

It doesn’t mean these setups are any more or less likely to work, it just requires a different mindset and tools.

Luckily the options market gives us a lot of tools.

I discuss this in today’s Options Jam Session, as well as a teachable lesson in a trade that got away from us:

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes via two Form 4 filings by Liam K. Griffin, chief executive officer and president of Skyworks Solutions $SWKS.

Griffin reported a total purchase of roughly $1 million in SWKS shares.

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

1. New position in XLV.
2. No adjustments are needed today.
3. No exits since the last report.
4. Current status of open campaigns.

Let’s dig in!

From the Desk of Steve Strazza and Alfonso Depablos

The biggest insider buy on today's list comes via two Form 4 filings by Warren Buffett.

Buffett revealed an additional purchase of $7.9 million in The Liberty SiriusXM Group $LSXMK.

Last night was my favorite thing that we do around here.

We had our LIVE Monthly Charts Strategy Session for Premium Members of ASC.

This hour-long, 150-chart Monthly ritual allows us to take a step back, zoom out, and identify the most important primary trends across markets.

There is nothing we do here that adds as much value to my process than preparing for this call.

Premium Members can watch the replay here and download all the slides.

If you're not a Premium Member yet, you can ...

From the Desk of Steve Strazza and Alfonso Depablos

The biggest insider buy on today’s list comes via two Form 4 filings by Warren Buffett.

Buffett revealed an additional purchase of $7.9 million in The Liberty SiriusXM Group $LSXMK.

This is the video recording of our May 1st Monthly Charts Live Strategy Session

From the Desk of Steve Strazza @Sstrazza

When investing in the stock market, we always want to approach it as "a market of stocks."

Regardless of the environment, there are always stocks showing leadership and trending higher.

We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.

The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too. 

We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.

We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics. 

Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.

Now, we're also highlighting lagging stocks on a recurring basis.

Welcome to the Short Report.

We...

This is the video recording of the May 1, 2024, Hot Corner Insider Weekly Strategy Session.

From the Desk of Ian Culley @IanCulley

The Japanese government isn’t playing games.

Currency crisis or not, Tokyo is willing to defend the yen in the open market. It's proven this multiple times over the past three years, and today’s FOMC-related volatility will likely test its resolve. 

Considering previous yen-buying interventions, the dollar, interest rates, and the dollar-yen pair could be headed lower in the coming months.

Before we dive into the yen, here's a quick update on the action in the euro and pound.

The euro retested its breakdown level from earlier this month, forming a bear flag:

A close below 1.06 completes the flag pattern and sets a rough downside objective of 1.0450.

The British pound also pulled back this week:

Instead of simply...

I'm mindful that coming into this afternoon's Fed meeting lots can change following whatever is said after 2pm ET.

That said, there's a pretty compelling opportunity to sell some premium in the gold space, at strikes that are comfortably far away, increasing our odds of success.

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

1. New position in XLI.
2. No adjustments are needed today.
3. No exits since last report.
4. Current status of open campaigns.

Let’s dig in!

I know I've already said it a lot over the past few months, but for those people in the back who may not be able to hear so well...

THIS YEAR IS NOT ANYTHING LIKE LAST YEAR.

The strategies that worked so well throughout 2023 are not the ones working this year.

Last year's leaders are some of the worst stocks in 2024.

The leaders in 2024, in many cases, were some of the worst sectors in 2023.

It's not bad or good. Better or worse. It's just different.

The better you get at adapting to the current environment, the fewer headaches you're going to have.

I'm 42 years old. I've been doing this for over 2 decades.

I have 3 kids.

Do you think I need more headaches at this point in my life? Or fewer?

And so that's why we've...

From the Desk of Steve Strazza and Alfonso Depablos

The biggest insider buy on today's list comes via two Form 4 filings by Mark Miller, president and COO of Goosehead Insurance Inc $GSHD.

Miller reported the acquisition of 10,000 GSHD shares, equivalent to $580,650.

My family and I recently embarked on a memorable 4-day journey to Redwoods National & State Parks in the breathtakingly rugged landscape of extreme Northern California.

Words alone cannot do justice to the majesty of this region, nor can mere photographs fully encapsulate its grandeur. To truly grasp its magnificence, one must stand amidst the towering coastal redwood trees, with the rugged shoreline of Northern California stretching out before them, enveloped in the sights, sounds, and scents of one of the most remarkable forests on Earth.

Even the gentle rain that occasionally graced our adventure served to enhance rather than dampen our experience, intensifying the assault on our senses in the most fulfilling manner imaginable.

As we spent hours traversing the labyrinthine trails, venturing deep into the heart of the woods, a recurring reminder echoed among us: "Don't forget to look up!"

Often, we found ourselves engrossed in the intricate dance of navigating the...

From the Desk of Steve Strazza and Alfonso Depablos

The biggest insider buy on today’s list comes via two Form 4 filings by Mark Miller, president and COO of Goosehead Insurance Inc $GSHD.

Miller reported the acquisition of 10,000 GSHD shares, equivalent to $580,650.