Immunocore Holdings $IMCR appears on our list for the second day in a row, as General Atlantic LP filed a 13D revealing an ownership stake of 11.50% in the biotechnology company.

From the desk of Steve Strazza @Sstrazza

Monday night we held our July Mid-Month Conference Call, which ASC Premium Members can review here.

In this post, we’ll summarize the call by highlighting five of the most important charts and/or themes we covered, along with commentary on each.

Let’s get right into it!

The largest insider transaction on today’s Hot List is a Form 4 filing by Nimish P. Shah, who reported an additional purchase of roughly $1.4 million of Tricida $TCDA.

The only 13D on our list today was filed by Baker Bros Advisors LP.

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...

This is the video recording of our July 20, 2022, Inside Scoop Weekly Strategy Session.

From the desk of Steve Strazza @Sstrazza

US equity markets have stabilized since June as macro headwinds have abated. 

This has brought on more bullish chart setups and a longer list of new highs.

While it’s nothing to get too excited about yet, it’s definitely a departure from the environment we’d been in.

Today, we’ll cover a stock that recently joined the Hot List and looks ready to join the new 52-week highs list next.

There’s been a noticeable lack of Hot List activity, as insiders seem to be sitting out the latest rally.

Today is no different, as we have a single Form 4 and one 13G.

Warren Buffett filed his latest Form 4 yesterday, as Berkshire Hathaway $BRK continues to accumulate shares of Occidental Petroleum $OXY.

The additional 1.94 million shares leaves him with an ownership percentage just shy of 20%.

From the desk of Steve Strazza @sstrazza

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 the stock is about to move in their...

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.

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...

From the desk of Steve Strazza @Sstrazza

Check out this week's Momentum Report, our weekly summation of all the major indexes at a Macro, International, Sector, and Industry Group level.

By analyzing the short-term data in these reports, we get a more tactical view of the current state of markets. This information then helps us put near-term developments into the big picture context and provides insights regarding the structural trends at play.

Let's jump right into it with some of the major takeaways from this week's report:

* ASC Plus Members can access the Momentum Report by clicking the link at the bottom of this post.

Macro Universe:

• This week, our macro universe was negative as 79% of our list closed lower with a median return of -1.14%.
• Lumber $LB was the winner, closing with a 3.49% gain.
• The biggest loser was Copper $HG, with a weekly loss of -8.18%.
• There was a 4% drop in the percentage of assets on our list within 5% of 52-week highs – currently at 2%.
• Only 9% of our macro list made fresh 4-week highs.
• Meanwhile, 38% of our list...

Director David S. Taylor of Delta Air Lines $DAL revealed a purchase of 10,000 shares in the airline company, valued at just under $300,000.

Meritage Group LP filed a 13G revealing an ownership stake of 5.70% in the cloud-based business management platform Coupa Software $COUP.