Our selling down of some positions today does not imply we are bearish on the current setup for stocks͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
| |  | | June 28, 2024 | | Alert Actions to Take: - Sell 1/3 of Arista Networks (ANET) stock for ~30% profits today, leaving us with a final 1/3 position in this stock.
- Sell 1/3 of Sea (SE) for ~80% profits today, leaving us with a 2/3 remaining position in this stock.
- Nike (NKE) is moving to Hold.
- Enovix (ENVX) is moving from Hold to Buy Below $20.
Dear Leah, Happy Friday, folks! Stocks are charging higher today after this morning's soft Personal Consumption Expenditures (PCE) report showed that the Fed's preferred inflation metric dropped to 2.6% in May, its lowest level since March 2021. Current forecasting suggests the PCE inflation rate will drop further to below 2.5% in June. Inflation is rolling over, and that's teeing up the Fed for its first rate-cut in September. In anticipation of that first rate-cut, stocks will charge higher. We think the summer stock rally has officially arrived and that things will only get better from here. A lot of big things happened this week, and we're responding to those things. We continue to believe stocks are prepped for a huge summer rally, and we are going to everything we can to pick the best stocks for that rally. Read the Full Alert |  | | Luke Lango
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