Midday Trading Ideas Update – June 13, 2024

Insider Activities and Market Implications:

• Amkor Technology (AMKR)

  • Consider selling or avoiding new positions due to insider selling and weak financial metrics.

• Zurn Elkay Water (ZWS)

  • Exercise caution. Monitor for potential correction due to overvaluation indicators and insider selling.

• StepStone Group (STEP)

  • Watch for a possible pullback. Consider a short-term hold until more stable financial performance is observed.

Market Sentiment and Trend Analysis:

• SPDR S&P 500 ETF Trust (SPY)

  • Consider reducing exposure or taking profits. Implement protective stops or hedge positions with options.

• Tesla (TSLA)

  • Consider short-term trading opportunities but be cautious of volatility.

• Broadcom (AVGO)

  • Attractive for both short-term and long-term positions due to strong AI revenue and stock split. Buy for both short-term gains due to positive sentiment and long-term potential in AI growth. Monitor stock split effects on liquidity and price movement.

Company Performance and Investment Opportunities:

• Murphy USA (MUSA)

  • Hold existing positions or consider new long-term investments.

• Alnylam Pharmaceuticals (ALNY)

  • Good for long-term investment. Hold or consider buying more.

Short Interest Analysis:

• Cognizant Technology Solutions (CTSH) and Johnson & Johnson (JNJ)

  • Monitor closely. Potential for short squeeze if positive news or earnings surprises occur. Avoid initiating new positions until sentiment improves.

Upgraded Stocks and Analyst Recommendations:

• Kimberly-Clark (KMB)

  • Consider initiating a position or adding to existing holdings based on upgraded outlook and margin improvements.

• Delta Air Lines (DAL)

  • Hold existing positions. Consider buying on dips if travel demand continues to strengthen and fuel costs stabilize.

Growth and Earnings Potential:

• Organon (OGN)

  • Initiate or add to positions based on favorable earnings growth and strong valuation metrics.

• Ultragenyx Pharmaceutical (RARE)

  • Consider a speculative buy for growth-oriented portfolios focused on biotech and pharmaceutical sectors.

Sector and Industry Focus:

• Invesco FTSE RAFI US 1000 ETF (PRF)

  • Suitable for long-term investors seeking diversified, fundamental-driven growth.

Tech and Media Expansion:

• Roku (ROKU)

  • Consider buying for long-term growth, especially if the new advertising platform shows success. Monitor quarterly earnings for impact.

Historical Performance Insights:

• Nordson (NDSN)

  • Hold existing positions or consider adding for long-term growth.