Power Plays Weekly Roundup 

June 9, 2023

By Scott Redler

Welcome to this week's Round Up.

Markets have been strong in June.

And the argument that the rally has been too narrow is starting to be negated as we see small caps, energy, and banks catch up to tech.

And as of now, every stock sector is positive for the month. IWM is a standout +7.2%.

RSP, the equal-weight S&P 500 ETF, is even beating SPY this month.

That said, we are seeing some individual names really outperform, like Tesla (TSLA) and C3.ai (AI).

So there is alpha if you find the right names.

Next week should give us some nice movement because we have:

  • Bank presentations
  • Oracle and Adobe earnings
  • Kroger earnings (should tell us food prices)
  • US CPI
  • FOMC

Now let's go over our Power Plays:

Apple (AAPL): It got sold on the big WWDC event because most think the Vision Pro is too expensive. But it looked great on Thursday and Friday and should be a leader in the coming days to weeks.

XBI: We added XBI as a Power Play last week because I thought we could start to see some rotation out of tech and into other growth areas like biotech. And it has been grinding up nicely. I still expect it to lead near-term.

Boeing (BA): The stock took a big intraday dip on Tuesday on news of a defect in the 787 Dreamliner that could lead to a delay in deliveries. However, it roared back and it hit $220 on the dot on Thursday. That rebound was faster than I expected and the stock is still looking good.

Have a great weekend!


Scott Redler Positions Disclosure as of 2023-06-09 at 10.28.58 AM