This week, we executed 3 new trades, including 2 buys and 1 sell.
Whether you’re an investor or just interested in the stock market, our weekly Momentum Ranking report based on Andreas Clenow’s book Stocks on the Move is a must-read! Click here to access the latest data for week 03 and stay up-to-date on the top performers.
Weekly Portfolio Update: A Momentum Strategy in Action
This week in the financial markeets, we’re seeing a promising tone as the S&P 500 continues to stride above its 200-day moving average for 170 days. Our momentum strategy, inspired by Andreas Clenow’s ‘Stocks On The Move,’ remains steadfast as we stay the course. With only 0.6% of our portfolio in cash, we are almost fully invested and committed to our strategy.
Trades of the Week: New Buys and Sells
We welcomed two new stocks into our portfolio this week. Alcoa (AA), a big name in the materials sector known for its aluminum production, caught our eye. Then there’s Amkor Technology (AMKR), a key player providing packaging and test services to semiconductor manufacturers. On the other hand, we bid farewell to Advanced Micro Devices (AMD) as it dropped out of our top-ranking momentum stocks. Sticking to our rules, when AMD fell off the list, we had to part ways.
As part of our routine rebalancing, we trimmed our position in EchoStar Corporation (SATS), aligning our holdings with the latest rankings.
Sector and Performance Highlights
Technology shines as our top sector this week, a sector often characterized by rapid innovation and growth potential. Companies like Applied Materials (AMAT), a supplier of equipment used in semiconductor manufacturing, offer a glimpse into the sector’s dynamic landscape. Our current top holdings include Warner Bros. Discovery (WBD), AMAT, and Medpace Holdings (MEDP), each contributing to our portfolio’s mix.
In terms of performance, Hecla Mining (HL) was our best performer, jumping up by an impressive 29.62%. On the flip side, Lumentum Holdings (LITE) faced challenges, retreating by 11.98%.
We love hearing your thoughts on our momentum strategy and portfolio moves. Feel free to share your perspective in the comments below.
This week’s transactions:
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Rebalanced / added:
- No positions were added to in this week!
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Rebalanced / reduced:
Index Distribution:
Our biggest stock holdings at the moment are in the S&P 400 category.
Current portfolio allocation:
The Technology sector now has the largest share in the portfolio:
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 | 70.10B | -5.72% | 0.079 |
| AMAT | Applied Materials Inc | S&P 500 | Technology | 240.82B | -1.87% | 0.068 |
| MEDP | Medpace Holdings Inc | S&P 400 | Healthcare | 17.15B | -2.77% | 0.067 |
| TER | Teradyne, Inc | S&P 500 | Technology | 35.82B | -0.40% | 0.062 |
| ROIV | Roivant Sciences Ltd | S&P 400 | Healthcare | 16.16B | -1.02% | 0.058 |
| HAE | Haemonetics Corp | S&P 400 | Healthcare | 3.69B | -9.60% | 0.058 |
| ALB | Albemarle Corp | S&P 500 | Basic Materials | 20.71B | 3.71% | 0.052 |
| CIEN | CIENA Corp | S&P 400 | Technology | 34.52B | -6.15% | 0.049 |
| CYTK | Cytokinetics Inc | S&P 400 | Healthcare | 7.70B | -11.31% | 0.046 |
| FN | Fabrinet | S&P 400 | Technology | 17.47B | -8.20% | 0.045 |
| WDC | Western Digital Corp | S&P 500 | Technology | 72.78B | -3.78% | 0.044 |
| AA | Alcoa Corp | S&P 400 | Basic Materials | 16.90B | -1.20% | 0.044 |
| FIX | Comfort Systems USA, Inc | S&P 500 | Consumer Cyclical | 37.78B | 1.96% | 0.043 |
| MU | Micron Technology Inc | S&P 500 | Technology | 377.99B | -3.63% | 0.043 |
| INTC | Intel Corp | S&P 500 | Technology | 234.66B | 2.95% | 0.042 |
| HL | Hecla Mining Co | S&P 400 | Consumer Cyclical | 16.19B | -2.89% | 0.038 |
| SATS | EchoStar Corp | S&P 400 | Communication Services | 35.59B | -3.65% | 0.037 |
| AMKR | AMKOR Technology Inc | S&P 400 | Technology | 12.76B | -3.61% | 0.034 |
| COHR | Coherent Corp | S&P 400 | Technology | 29.48B | -6.28% | 0.031 |
| LITE | Lumentum Holdings Inc | S&P 400 | Technology | 25.43B | -10.95% | 0.028 |
| STX | Seagate Technology Holdings Plc | S&P 500 | Technology | 68.02B | -4.06% | 0.027 |
| cash | Cash | Cash | Cash | – | - | 0.006 |
As always, more trades next week!