Stocks in Play - December 18th 2024

TLDR Stocks in Play: BIRK, OKLO, THE MARKET

Welcome to today's Stocks in Play report. Below are the key stocks to watch, along with brief x-ray and analysis.

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1) OKLO Inc. (OKLO) (Rating: B, Single-Day)

Industry Group: Industrial Machinery, Market Cap: $2.5b,  Float: 29m, Short Interest: 17.3%, Days to Cover: 1, Exchange: NASDAQ

Catalyst: Oklo and Switch have signed one of the largest corporate power agreements in history, a 12-gigawatts non-binding Master Power Agreement. This sounds pretty fluffy. But in a day where I can genuinely see nothing else of note it’s worth monitoring. This is a wild stock. High Short Interest, Low Days to Cover. No Financials mentioned on this agreement. It’s more of a PR release than anything.

1) Birkenstock Inc (BIRK) (Rating: B-, Single-Day)

Industry Group: Apparel Footwear, Market Cap: $10.5b,  Float: 10m, Short Interest: 10%, Days to Cover: 3.5, Exchange: NYSE

Catalyst: Probably a name that won’t be focused on today but posted solid earnings. Neglected name, Solid Beat on EPS ($0.32 vs est $0.26), Solid Beat on Revs, Guidance is Inline. Low float, relatively high short interest, Recent IPO. Sales 23% YoY.

Honorable Mention to: THE MARKET - Today I believe stocks are going to trade in Tandem. This happens when the market rallies hard or sells off hard. All stocks trade together. On days like this it’s critical to keep things simple. Either don’t trade or trade the big liquid names. I’m looking at NVDA as my market Proxy today as I am unable to trade ETFs. FED Decision at 2pm EST.

Market Awareness

Today I see little in the way of individual SIP catalysts (except very low priced which I prefer not to post). It’s all about the market bounce, if that occurs. We have the FED decision, we have a lot of well used metrics slipping into/toward oversold (T2108, McLellan etc). Today I think stocks will trade in tandem. I really can’t see anything worth mentioning. I think that the big names will drive the market one way or the other. If you can trade ETFS then TNA, TQQQ etc. could be the way to go today. Even the DIA looks decent for a bounce!" FED Decision at 2pm EST. It’ll be all about the 2025 guide and commentary rather than the decision. I don’t follow FED stuff closely I will just look at the market reaction.

After Hours I’m Watching: MU, LEN (Earnings)

Tomorrow Morning I’m Watching: ACN, FCEL, LW(Earnings)

Top Pick Watchlists:

• Top Picks - November 2024

  • LONG: ALAB, HNST, SNOW, ESTC, RKLB, SMTC, URBN, PLTR, GAP, TSLA, SE, RDDT, DESP

  • SHORT: TGT

• Top Picks - December 2024 

  • LONG: CRDO, MRVL, OKTA, FIVE, RBRK, AVGO

Sources & Services I Use in my Trading:

• Finviz - Short Interest, Float, Articles, Fundamentals (Free)

• Benzinga Pro - News Source + News Squawk + Earnings Data (Paid)

• Tradingview - Charting & Scanning (Paid)

• Koyfin - Fundamental Data (Paid)

• EarningsWhispers - Earnings Calendar (Free)

• Tradersync - Trade Journal (Paid)

_{PS: There are many ways to trade stocks in play. It does not have to be the one that keeps going straight up and sometimes it doesn’t even have to be day one of the catalyst. Everyone must find a setup, timeframe and method that works for them. This list is supposed to educate on the criteria I use and the methods in which I find Stocks in Play. Yours may differ and that is completely okay.}