Legal But Unfair #1 (Insider Transactions) and End of Week Update
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I hope you had a great week and are enjoying your Saturday.What a week! One member messaged me and told me they took advantage of the ideas I provided midweek and made huge gains on the PBR 0.00%↑ calls I talked about.
Here’s a screenshot from that post
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This week I wanted to take a look into something interesting: insider transactions from directors and CEO’s at companies.
This is important because if you’re looking to invest in a company, it’s always a good sign when someone who works there in the company actually believes in it too and isn’t selling into investors.
The Wall Street journal also said that the Fed might be planning on cooling it with the rate hikes post-November and this can really put a bottom in for some oversold names, so I decided to look into some names with big insider buying.
The first name that I saw and liked was RKT 0.00%↑ . If the Fed really is planning on stopping rate hikes this will benefit from that greatly. The chart put in a textbook Sperandeo's 2B Double Bottom pattern. This pattern basically means market makers runningyour 52wk low stop losses and then reversing the stock.
Insiders have been buying this stock almost every single day for around $200K worth. The cherry on top is that this stock also has 30% short interest so it can really move if it wants to.
The second stock is MRNA 0.00%↑ . But the thing about Moderna is that it’s a lot of selling, not buying. The weekly chart looks like a huge head and shoulders and I think with all the selling, it can be a short play under $117. If this reclaims 150, then this chart will invalidate this head and shoulders pattern, but insiders look to be selling a lot here.
The third stock on my list is the cheapest one of today and it’s CAMP 0.00%↑. This one is bottoming out an insiders really like loading this stock at this level here near the $4 range.
The last stock is COIN 0.00%↑ Coinbase and I was surprised to see so much buying in this name. It is basing here heavily and looks ready to breakout if you keep a tight stop loss at 58. Heavy insider buying and conoslidation which means there's a big move in store for us.
Those are all the stocks on my list for insider buying that I think you should keep on watch!
Thank you for reading, tomorrow I will be releasing Weekend Wall Street with my full trade plans for next week (which should be big and I’ll talk more about that tomorrow). Have a great weekend,
Adit Dayal