# $7.7 Million Insider Buying Cluster — My Pre-Market Watchlist for May 14, 2026

**Buzz’s Pre-Market Brief**

Yesterday’s AXIA3 cluster didn’t trigger my entry zone, so I’m flat and patient—not a bad thing when the tape’s giving back record highs. Futures are down 0.3% pre-market, breadth has been contracting since Monday’s ATHs, and VIX is clinging below 17. This isn’t panic—it’s rotation. Geopolitical tension around Iran is pushing money toward defensives while tech digests its run.

But here’s what caught my eye: **$7.7 million in verified insider buying** hit the SEC wires over the past 72 hours. CEOs averaging down. Directors stepping up. No headlines—just conviction measured in dollars.

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## Market Setup

We’re coming off fresh all-time highs (S&P 7412, Nasdaq 26274 as of Monday), but this tape has shifted character. Narrowing breadth at ATHs is classic late-stage behavior. When the generals march but soldiers fall back, breakouts fail and trapped longs get punished.

I’m not calling a top. But I’m sizing smaller and demanding better entries. The setups I’m watching need volume confirmation and clean technical levels—not just a good story.

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## Today’s Watchlist

### TKO Group Holdings (TKO) — Conviction Score: 51/100

**The Signal:** CEO Ariel Emanuel dropped **$2 million** across two filings on May 13. That’s not diversification—that’s conviction.

**The Technicals:** TKO closed at $184.50, flat over five days (-0.81%). Price is coiling sideways above the 20-day MA, with volume running 1.43x average. Constructive accumulation, not distribution.

**My Levels:** Pullback entry **$184.16–$185.09** (insider-weighted average is $185.09). Invalidation below $179.54. Target: $192–$194 on momentum.

**The Risk:** TKO’s an ADR—wider spreads, thinner liquidity. Size smaller.

### COE (51Talk Online Education) — Conviction Score: 47/100

**The Signal:** CEO Huang Jack Jiajia averaged down hard—**$2.9 million across three filings** from May 6–8. When insiders keep buying into weakness, they’re signaling mispricing.

**The Technicals:** COE closed at $27.00, down 5.2% over five days. Volume dried up to 0.6x the 20-day average—classic “no more sellers” behavior. But buyers haven’t stepped in yet, so I need confirmation.

**My Levels:** Entry zone **$24.40–$24.50** (CEO’s average sits around $24.48). Stop: Below $23.74. Tight leash—if no bid by 10:30 AM, I’m out of
this idea.

**The Risk:** Chinese ADR, low float, wide spreads. Half my normal risk only.

### FTI Consulting (FCN) — Conviction Score: 43/100

**The Signal:** CEO Steven Gunby bought **$1.4 million** across two filings on May 13 after FCN had already pulled back 5.33%.

**The Technicals:** Bearish trend—price below 5-day and 20-day MAs. But that insider buy at $143.87 suggests value hunters are circling.

**My Levels:** Safer entry above $146 on relief bounce. Aggressive entry at **$144.17** with early support. Stop: Below $139.85.

**The Risk:** Catching falling knives is for chefs, not traders. If broad tape cracks, FCN sees more pressure.

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## What I’m NOT Trading

– **UPST** — CEO Paul Gu bought $1.375 million at $27.50, but stock is down 10.57% over five days with persistent selling. Watching only until trend shifts.
– **ZTS and PSN** — Smaller insider buys ($500K and $348K) with weak technicals. Pass.
– **Gap-up energy/utility names** — Rotation money is flowing there, but I’m not chasing ahead of OPEX Friday.

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## Buzz’s Game Plan

Watchlist is live at 9:30 AM—my trigger finger isn’t. Waiting for TKO to pull back into $184–$185 with volume, or COE to establish floor near $24.40. If neither prints orderly, cash is my highest Sharpe trade today.

OPEX Friday is tomorrow. Dealers hedging deltas into Thursday’s close often pins action, creating chop and fakeouts. My edge today is patience + defined levels.

The insider cluster ($7.7M total) suggests institutional-quality conviction at these prices. But conviction without price confirmation is just an opinion. My hard stops are locked in—one tick below those insider entries.

See you after the close with the recap.

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⚠️ **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.