🏆Here’s What the Big Funds Are Buying (And Selling) Now

Good morning. Traders have pushed heavily into tech stocks over the past few weeks...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. Traders have pushed heavily into tech stocks over the past few weeks, particularly companies with high short interest. That's a sign that traders who shorted some stocks may be getting squeezed. That doesn't last forever. That may indicate that the market's move higher – especially in tech – may slow down or reverse in the coming days. In the meantime, traders have largely been selling short the energy space. As last year's big winning sector, that's not a big surprise. And slowing economic data is typically bearish for energy prices. Traders may want to look at going long in the space – as traders who shorted prices lower may be setting up the next short squeeze higher. Now here's the rest of the news: Sponsored Content Hit The Green Lights with These A.I. Stock Alerts! Receiving 6 A.I. Scanned Stock Alerts (for the week ahead) feels a lot like hitting all the green lights! Delivered to you by the pioneers behind the A.I. powered trading software VantagePoint, TraderGPS is the fastest and easiest way to get a pulse on 6 stock trends to make the most confident trades each week. Count Me In For The Free A.I. Scanned Stock Alerts > MARKETS DOW 33,891.02 -0.10% S&P 4,111.08 -0.61% NASDAQ 11,887.45 -1.00% *As of market close • Markets moved lower on Monday, adding on to Friday's decline. • Oil rose 1.3 percent, closing at $74.37 per barrel. • Gold rallied 0.3 percent, going for $1,882 per ounce. • Cryptocurrencies traded lower, with Bitcoin at $23,012 at the market close. Today's TOP TIPS Keep Buying Off-the-Radar, and Necessary Companies Building Out Future Growth Now While the market has had a strong start to the year, plenty of companies are still well off their highs. For the right companies, this can create an opportunity to build substantial wealth and a growing stream of income. That's especially true in parts of the market that tend to get overlooked. In a bull market, the focus tends to be on tech stocks. So far this bear market, investors have flocked to energy and utilities. » FULL STORY Insider Trading Report: Phillips 66 (PSX) Gregory Hayes, a director at Phillips 66 (PSX), recently bought 10,250 shares. The buy came to a total cost just over $1.1 million, and increased the director's stake by a massive 253 percent. This is the first purchase at the company in two years, following another buy from a director for 77 shares valued at just under $5,900. A number of company executives have been sellers of shares over the past two years, largely by exercising options. » FULL STORY Unusual Options Activity: Sketchers U.S.A (SKX) Shares of footwear and accessory company Sketchers U.S.A. (SKX) are up about 11 percent over the past year. One trader sees a decline in the months ahead. That's based on the April $39 put options. With 74 days until expiration, 2,003 contracts traded compared to a prior open interest of 104, for a 19-fold rise in volume on the trade. The buyer of the puts paid $0.75 to make the downside bet. » FULL STORY IN OTHER NEWS • Bank of America CEO Warns on Debt Default Brian Moynihan, CEO of Bank of America (BAC) has warned that the U.S. government faces a debt default. That's due to the congressional bickering over raising the debt ceiling, which sets the maximum amount of money that the U.S. government can borrow to pay its bills. • Public Storage Makes $11 Billion Offer for Life Storage Self-storage company Public Storage (PSA) has made an all-stock offer of $129 per share for competitor Life Storage (LSI). That's about a 19 percent premium to where shares traded before the offer, and would be the largest acquisition of 2023 so far if the deal goes through. • Canoo Shares Drop on New Stock Offering Electric vehicle manufacturer Canoo (GOEV) is selling discounted shares to institutional investors. That includes 50 million new shares, as well as warrants for up to 50 million more. The deal will raise about $52.5 million, which the company needs as it continues to ramp up production of its EVs. • Dell to Reduce 5 Percent of Workforce Dell Technologies (DELL) says it will cut about 6,600 jobs, or about 5 percent of its workforce. The company joins other big tech names that have announced layoffs in recent months, as market conditions remain uncertain and interest rates continue to rise. • ShiftMed Raises $200 Million Startup ShiftMed has raised $200 million in funding. The company is looking to solve the nursing shortage problem, and the capital will be used to expand the company's footprint and improve its app and cloud-based software features to provide better options for staff. S&P 500 MOVERS TOP CTLT  19.465% EXR  2.979% ALL 2.779% TSLA 2.516% D 2.506% BOTTOM VFC 6.401% DXC 5.054% ATVI 4.864% TSN 4.607% TECH 4.535% Quote of the Day I think the market's coming closer to our view that inflation is declining rapidly. [The Fed's] models have proven to be terrible. They missed this inflation on the upside, and now they're missing the deflation. - Jay Hatfield, CEO at Infrastructure Capital Management, on why inflation will likely continue to drop in the months ahead, which would give the Fed the reason they need to be done hiking interest rates. Sponsored Content Receive Unprecedented Artificial Intelligence Scanned Stocks! Dominate February markets in high-tech fashion using A.I. stock predictions from TraderGPS. Signing up today (free) brings you a weekly update on 6 key stocks to make the more informed trades. Brought to you by the creators of VantagePoint A.I. trading software. Sign Up Free for TraderGPS > Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! We are dedicated to teaching people how to make the world a better place so we can all thrive, together. We love sharing stories and featuring past learners who have applied our teachings and changed their situations. It's our passion to build a strong community centered around fun and mindset! 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