This week, we engaged in 5 new trades, with 3 buy(s) and 2 sell(s).
Discover the top-performing stocks of the week with our Momentum Ranking! Click here to access the latest data for week 47.
In a trading week marked by cautious optimism, we’re observing that the S&P 500 has stayed above its 200-day moving average for 133 days. This positivity in the broader market gives us the green light to look for new opportunities. Speaking of investment strategy, we have currently set aside a small cash reserve at 3.63%, meaning we’re almost fully invested. So, a typo here and there? Don’t worry, I’m only human.
This week, our portfolio saw new additions with buys in CYTK (Cytokinetics, Incorporated), ROIV (Roivant Sciences Ltd), and TER (Teradyne, Inc.). Cytokinetics is making waves in the healthcare sector, offering significant potential with its drug development pipeline. Roivant Sciences, also in the healthcare arena, brings biotechnology advancements to the fore. Teradyne, rooted in technology, provides test equipment that boosts our portfolio’s tech edge. On the other hand, we sold off our positions in KTOS (Kratos Defense & Security Solutions, Inc.) and PLTR (Palantir Technologies Inc.) as they no longer match our top 10% annualized adjusted slope ranking criteria.
We also made some adjustments, trimming our position in FLEX (Flex Ltd.) and MEDP (Medpace Holdings, Inc.) to maintain optimal balance. It’s all about keeping our momentum-focused strategy, as detailed by Andreas Clenow in Stocks On The Move, efficient and aligned.
In summary, it’s been a challenging few weeks for momentum stocks, particularly this November. However, sectors like healthcare and biotech show promise. Our portfolio reflects technology as the dominant sector, aligning with its historical role of growth potential and innovation lead. Our top holdings now are WBD (Warner Bros. Discovery, Inc.), TER, and AVGO (Broadcom Inc.). While STOK (Stoke Therapeutics, Inc.) was our best performer with an impressive 17.89% rise, unfortunately, POWL (Powell Industries, Inc.) was our worst, down by 13.01%. As the tech community waits for Nvidia’s earnings tomorrow, excitement builds around the AI sector.
Feel free to share your thoughts in the comments.
This week’s transactions:
Index Distribution:
The S&P 500 sector is where most of our investments are right now.
Current portfolio allocation:
The Technology sector is currently our top dog in terms of portfolio allocation.
Weekly sector distribution:
Current portfolio (@finviz):
| Symbol | Name | Index | Sector | MC | Dist to 52w High | pct |
|---|---|---|---|---|---|---|
| WBD | Warner Bros. Discovery Inc | S&P 500 | Communication Services | 58.77B | 2.27% | 0.063 |
| TER | Teradyne, Inc | S&P 500 | Technology | 25.84B | -13.88% | 0.058 |
| AVGO | Broadcom Inc | S&P 500 | Technology | 1621.11B | -11.18% | 0.053 |
| FN | Fabrinet | S&P 400 | Technology | 14.56B | -18.40% | 0.05 |
| CIEN | CIENA Corp | S&P 400 | Technology | 26.15B | -13.42% | 0.049 |
| FIX | Comfort Systems USA, Inc | S&P 400 | Industrials | 32.59B | -9.43% | 0.047 |
| WDC | Western Digital Corp | S&P 500 | Technology | 52.62B | -13.75% | 0.042 |
| INTC | Intel Corp | S&P 500 | Technology | 164.78B | -18.68% | 0.041 |
| IDCC | Interdigital Inc | Barrons 400 | Technology | 8.73B | -17.85% | 0.041 |
| STRL | Sterling Infrastructure Inc | S&P 400 | Industrials | 10.22B | -20.62% | 0.04 |
| MU | Micron Technology Inc | S&P 500 | Technology | 259.17B | -11.39% | 0.037 |
| IESC | IES Holdings Inc | Barrons 400 | Industrials | 7.18B | -18.31% | 0.037 |
| cash | Cash | Cash | Cash | – | - | 0.036 |
| AMD | Advanced Micro Devices Inc | S&P 500 | Technology | 377.83B | -13.11% | 0.033 |
| POWL | Powell Industries, Inc | Barrons 400 | Industrials | 3.90B | -21.69% | 0.033 |
| TTI | Tetra Technologies, Inc | Barrons 400 | Industrials | 1.02B | -8.32% | 0.032 |
| ROIV | Roivant Sciences Ltd | S&P 400 | Healthcare | 14.35B | -3.35% | 0.031 |
| MEDP | Medpace Holdings Inc | S&P 400 | Healthcare | 16.60B | -5.71% | 0.03 |
| APP | Applovin Corp | S&P 500 | Communication Services | 178.46B | -29.18% | 0.028 |
| SATS | EchoStar Corp | S&P 400 | Communication Services | 20.03B | -18.50% | 0.028 |
| STX | Seagate Technology Holdings Plc | S&P 500 | Technology | 55.00B | -13.55% | 0.027 |
| HL | Hecla Mining Co | Barrons 400 | Basic Materials | 9.55B | -11.45% | 0.027 |
| CYTK | Cytokinetics Inc | S&P 400 | Healthcare | 8.13B | -2.21% | 0.025 |
| STOK | Stoke Therapeutics Inc | Barrons 400 | Healthcare | 1.65B | -25.39% | 0.025 |
| LITE | Lumentum Holdings Inc | S&P 400 | Technology | 17.67B | -9.03% | 0.025 |
| FLEX | Flex Ltd | S&P 400 | Technology | 21.29B | -14.07% | 0.022 |
| SSRM | SSR Mining Inc | Barrons 400 | Basic Materials | 4.35B | -17.49% | 0.019 |
| SBH | Sally Beauty Holdings Inc | Barrons 400 | Consumer Cyclical | 1.43B | -15.72% | 0.019 |
As always, more trades next week!