The Dow Jones recovered from a triple-digit loss Wednesday afternoon to finish down just six points after a choppy trading session.
The energy and the utilities sectors weighed on stocks today, while investors continue to eye negotiations between Greece and its creditors about the country's perilous debt situation.
What Moved the Markets Today: Investors remain optimistic about a debt deal getting done between Greece and the European Union.
However, the Standard & Poor's 500 Utilities Index pulled back 1.5%, while the energy sector slipped 0.9%. Oil prices declined for the second-consecutive trading session. WTI oil prices fell 1.6% to hit roughly $49.22 per barrel. Brent crude prices fell nearly 2.7% on the day to dip below $55 per barrel.
Now, check out the other top market stories - plus get our new profit tip for investors:
But there's a proxy for insider buying that can be just as useful.
Money Morning Executive Editor Bill Patalon dubs the second group "knowledgeable outsiders." These include certain hedge funds and private equity players. Also in this group are investing icons like Warren Buffett, Carl Icahn, and George Soros.
So why should investors pay attention to what the "smart money" is doing?
Says Patalon, "Smart-money players like Buffett, Soros, and Icahn are a separate set from the rest of the Wall Street rabble. They're independent thinkers and often make moves so 'contrary' to the prevailing thinking that the masses label them as crazy."
These "crazy" moves can be tough to make. That's why the masses are busy running in the opposite direction.
But they can also put you on the path to some outsized profits of your own.
Patalon just shared a brand-new move by a smart-money private-equity player that makes a bold statement about a Contrarian profit opportunity. Get his pick right here...