Friday morning. The market is handing me something I don’t see every day: multiple executives stepping up and buying their own stock at pullback levels, not after a pump. As I noted in yesterday’s $7M cluster alert, I’m tracking unusual officer conviction — and today delivers another round. Fresh SEC filings show over $3.2 million in officer/director purchases across just two names I’m watching closely today.
Market Context — Light Catalyst Friday
Pre-market’s relatively quiet. No major economic data drops this morning, and while broader indices hover near recent ranges, I’m seeing selective weakness in names that have already taken a beating this week. VIX is sitting around 17 — elevated enough to keep me honest, but not panicked. The story today isn’t macro. It’s micro-level conviction signals.
The Watchlist
FCN — FTI Consulting | Conviction: 50/100
CEO Steven Gunby just dropped $1.44 million of his own money buying shares between $143.87 and $144.77. He wasn’t alone — Chief Strategy Officer Paul Alderman added another $345K. That’s three separate filings totaling $1.79 million from the C-suite.
Here’s why it matters: FCN is down 9.4% over five sessions, slicing through short-term moving averages. The stock closed at $151.25, but these buys came in near $144 — that’s my magnetic level. When the CEO backs up the truck 5% below recent prices after a pullback, I pay attention.
My levels: Entry at $144.15 (weighted average of recent insider purchases). Invalidation if we break $139.82 on volume — that’s the floor that needs to hold for the thesis to survive.
IIIV — i3 Verticals, Inc. | Conviction: 45/100
CEO Gregory Daily bought $961,500 at $19.23 per share on May 14. The stock had just absorbed a brutal 15.6% five-day beating after their Q2 earnings print. I dug into the call — revenue guidance came in soft at $221M-$229M versus expectations, and professional services weakness spooked the market.
But here’s the signal: Daily’s purchase came after the dust settled. He’s not catching a falling knife blind — he knows the numbers. The stock closed at $18.91, actually below where he bought. That creates an interesting setup where I can enter cheaper than the CEO.
My levels: Entry at $19.23 (matching his buy). Support invalidation at $18.65. If we can’t hold that, the insider conviction story falls apart and I’m out.
HROW — Harrow, Inc. | Conviction: 35/100 (Light Watch)
CEO Mark Baum ($302K) and CFO Andrew Boll ($104K) both bought on May 14 — total $406K. Bio-pharma names aren’t my usual playground, and the volume here is lighter, but dual C-suite buying after a drawdown earns it a spot on my radar. Not trading size — just watching.
What I’m NOT Chasing
CMCL’s up 12% this week on a single director buy. That’s hot money chasing gold mining noise. Skipping it. Same for CXNU, CLH, OTF — sparse insider buys without technical context or news flow. I need convergence, not coincidence.
Buzz’s Game Plan Today
Two setups, tight entries, hard stops. I’m entering FCN only if we see a pullback toward that $144.15 level where insiders stepped in. For IIIV, I’m looking for any opening weakness that respects $19.23 — if it gaps down through $18.65, I’m not a hero, I’m walking away.
Cash remains a position today. Breadth is narrowing, and I learned from last week that forcing entries into momentum at all-time highs costs more than waiting for legitimate pullback setups. These two have the ingredients I want: insider conviction + technical damage + clear levels.
⚠️ Disclaimer
This content is for educational and entertainment purposes only. It is not financial advice. Trading involves substantial risk of loss. Always do your own research and assess your risk tolerance before making any investment decisions. Past performance does not guarantee future results.