Some risk-on groups are playing catch-up on this bounce. With a potential shifting away from defensive names in the markets as we observed in a prior MLR, here are some higher quality pocket pivots that emerged today:
Airline ALK - Earnings are accelerating, pretax margin 24%, ROE 37.1%, group rank 78.
Semiconductor SIMO - Yesterday's pocket pivot is still valid. institutional sponsorship has grown over the last 3 quarters, pretax margin 25.5%, ROE 40%, group rank 29.
Server system maker SMCI - Yesterday's pocket pivot is still valid. Group rank 33.
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