262667482 - 1_lwer98sd - PID 1851201
    
    
      
    
  

  
    
        Hi everybody, I’m Ted
Dixon
        with the INK preview for
        the week of June 27th:
Bear market buying.
        Federal Reserve Chairman
Jerome Powell
        went all out last week
trying to jawbone
        inflation expectations
lower by warning
        that the US economy might
        not be able to avoid a
recession.
        He spooked investors who
sold
        stocks mid-week as
commodities tumbled.
        The INK Canadian Insider
Index
        entered a bear market y.
        The Index is also below
        its 200-day moving
average.
        Events are extremely
fluid,
        so it remains to be seen
if
        the Index can regain its
upward momentum.
        Insiders are generally
seeing the selloff as
        a buying opportunity with
        the INK Indicator which
        tracks the number of
stocks
        with key insider buying
versus selling over
        the past 60 days soaring
above 200%.
        That means there are
        more than two stocks with
        key insider buying for
ever one with selling.
        It’s the highest level for
        the indicator since May
2020.
        We will feel more
confident that a low
        is in for the INK CIN
Index
        once the indicator peaks
        as that would signal we
have
        seen peak insider buying
which often
        happens around key support
levels.
        In the meantime, the
overall Canadian market
        continues to have an
undervalued reading as
        do the economy-sensitive
sectors of Energy,
        Basic Materials,
        Industrials and Consumer
Cyclicals.
        Financials also continues
to have
        an undervalued reading as
        insider buying emerges
        across a variety of
companies in the group.
        Of the defensive areas,
        only Healthcare grabs our
attention
        with its undervalued
reading.
        However, we see wide
dispersion in
        the group with respect
        to INK Edge outlook
rankings.
        We remain sceptical of
        a rally in
        pot stocks and
psychedelics although
        there are some names in
the group that we are
        watching which we mention
        in our Monday market
report.
        So, make sure to check it
out.
        On Monday we did see
        the US durable goods
        rose and again and
        beat expectations for the
month of May.
        So perhaps the news of the
death of
        the US economy is a bit
premature.
        In terms of the morning
report,
        we start off in the
economy sensitive area in
        the energy sector where
insiders
        have been buying the
Powell dip.
        Insiders are betting that
the Powell dip
        may be just a blip. We
shall see.
        You can download a copy of
        the morning report under
this video,
        and we will be posting
        all our morning reports
        here as the week
progresses.
        Well that’s all for today.
        Thanks for stopping by and
I wish
        everyone a great Canada
Day weekend.
        This is not a
recommendation to
        buy or sell securities and
        nothing in this video or
        in INK reports should be
considered
        financial advice
information is for
        educational purposes INK
employees may
        hold an interest in
        any stock mentioned in
        our videos or in our
reports.