The insider “run” on regional bank shares continues, with Form 4s from nine more directors and executives from boardrooms and C-suites in that troubled sector leading today’s Hot List:

• Stellar Bancorp Inc $STEL
• NBT Bancorp Inc $NBTB
• Byline Bancorp $BY
• KeyCorp $KEY
• Texas Capital Bancshares $TCBI
• Synovus Financial Corp $SNV
• German American Bancorp $GABC
• Cullen/Frost Bankers $CFR
• TFS Financial Corporation $TFSL

From the Desk of Kimmy Sokoloff

It's been a long week, and a complete chop-fest at that.

We'll see if $AAPL has saved the day.

They had no growth, from what the news says.

From the Desk of Kimmy Sokoloff

What a wild day in the markets...

I think we just need to get $AAPL’s earnings out of the way.

Another day goes by and another bank that doesn't matter disappears.

This is a big deal.

In theory, investors should care about a handful of these regional banks no longer in existence.

But they don't.

In theory, there should be systemic implications to all of this, and the selling in little regional banks should spill into other, more important, parts of the market.

But it hasn't.

In theory, the inverted yield curve should precede a recession and all the money printing should ultimately cause a collapse.

But it hasn't.

And that's my point here.

At what point does anyone care?

I'm waiting for it myself.

The largest insider transaction on today’s list is a Form 4 filing by the chairman and CEO of American Assets Trust $AAT, Ernest Rady.

Rady reported a purchase of AAT shares worth $5.6 million.

From the Desk of Kimmy Sokoloff

May the Fourth be with you!

We now have the Fed behind us, and there are more bank troubles.

This is worrisome.

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...

From the Desk of Kimmy Sokoloff

It's Fed Day, and we know the drill...

Up, down, and all around.

These tiny banks have been in trouble for quite some time.

That we know.

The question has been more about whether or not the selling spills into other parts of the market.

So far it has not.

The spikes in volatility in the bond market, for example, have only resulted in volatility in these little banks.

We have not seen it spill into other asset classes, and certainly not in the majority of stocks.

Remember, the S&P500 and Nasdaq100 just closed the month of April at the highest levels in a year.

Where's the volatility?

The big story on today's list is that executives from some of the most severely damaged banks are still filing Form 4s.

Here's yesterday's list:

• Texas Capital Bancshares $TCBI
• Zions Bancorporation, National Association $ZION
• Simmons First National Corporation $SFNC
• Ameris Bancorp $ABCB
• Prosperity Bancshares $PB
• FB Financial Corporation $FBK
• Bank of Hawaii Corporation $BOH
• Farmers National Banc Corp $FMNB
• Old National Bancorp $ONB
• First Financial Bankshares $FFIN

From the Desk of Kimmy Sokoloff

This is a big day, with the FOMC set to announce an interest rate decision at 2:00 p.m. ET.

We had a late-day bounce yesterday -- typical, as this market loves to levitate.

This is the video recording of the May 3, 2023, Inside Scoop Weekly Strategy Session.