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.

We continue to be on the hunt for premium selling opportunities in this tape. It feels almost irresponsible not to be.

And we're heading back to a name we trust.

From the Desk of Ian Culley @IanCulley

Strength begets strength.

Buyers taking control of a market heading into the weekend exude confidence. That describes gold bulls last Friday as they drove prices higher into the close.

To no surprise, Gold kicked off the new week gapping higher and rallying more than 2.5%. We call this bullish follow-through. 

So what’s next for precious metals?

Most likely… More strength!

Check out the daily chart of Gold, highlighting last Friday’s candle in addition to that of the Friday, Nov. 4th session:

Both these candlestick formations are a visual representation of buyers’ willingness to take home additional risk over the weekend.

A sustained rally into an overwhelming amount of supply marked by the 2011 highs followed the bullish candle from Nov. 4th. 

Based on today’s action, Gold appears to be kicking off another leg higher… In fact, short-term momentum for Gold – measured by the short-term rate of change, has not been this high in almost three years. 

Here’s a look at Gold futures with the 2-day ROC, showing the highest reading since early 2020. This...

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

Historically they’re all usually just making a big deal about things that are not a big deal.

It's their job to make noise. And in some cases, it's not even their job, humans just like to overreact and make a lot of noise.

As investors, it's our job to ignore.

We don't care about their fed policies. We're not interested in arguing about wars. I don't care who the president is. And a "bank crisis" is laughable these days, compared to what I had a front row seat to back in 2008.

They make noise. We ignore. It's that simple.

Late last week when people were panicking, I was right here telling you we wanted to buy stocks.

Why?

Because in bull markets, it pays well to own stocks.

Besides, the Dollar was falling apart. So if stocks were about to collapse and this was 1929 all over again (lol btw), then the...

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.

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

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:

Click table to enlarge view

We filter out any laggards that are down 5% or more relative to the S&P 500 over the trailing month. 

Then,...

Energy commodities are holding up despite last week’s selling pressure.

No, I’m not talking about natural gas – that rope snapped months ago.

But the rest of the main players – crude oil, heating oil, and gasoline – rebounded heading into the weekend. And when I look at the charts, Friday’s strength might be the beginning of a more sustained advance for energy.

Check out the equal-weight energy index:

It’s finding support where I would expect – the prior-cycle highs from 2018 and a key retracement level off the 2020 low.

Notice the index found support at this level in late 2021. This is the polarity principle in action.

A bounce here makes sense for energy contracts. It doesn’t mean they will, of course.

The index is also retesting a...

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

The Silicon Valley Bank $SIVB collapse dominates the week's headlines.

While risks appear isolated for now, unlike in 2008, the next chart reveals a storm brewing beneath the surface...

From the Desk of Kimmy Sokoloff

Last night, I mentioned support on the $SPX was at 3,873... and we broke below.

I'd like to see $SPY get back above 393.