On a day when the euphoric AI mania is taking a break (which hasn’t stopped the Nasdaq from hitting fresh 52 week highs), market flows have reversed modestly out of tech and into small caps, which are surging and reversing just a little of that record QQQ/RTY skew … … on the back of aggressive buying of energy (which had been shorted furiously for the past few months) and especially small banks, with the KRE exploding higher, and rising for a 3rd straight week. And while we wait until today’s 4:15pm release of the latest bank deposit and loan data to see if such buying is indeed justified at a time of a persistent bank jog, there is a group of investors that isn’t waiting: bank insiders are buying shares in their own companies at the fastest pace since the covid crash, a strong vote of confidence in the […]
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