The week’s activity resulted in 4 new trades — 4 buys and no sells.
Discover the top-performing stocks of the week with our Momentum Ranking! Click here to access the latest data for week 16.
Weekly Portfolio Update: Balancing Act and New Buys
It’s been an intriguing week in the financial markets, with the S&P 500 sustaining its rise above its 200-day moving average for the sixth consecutive day. This is a sign that the broader market envirnment is healthy for new opportunities. Currently, our portfolio is nearly fully invested, keeping only a small portion in cash at 2.5%. This week, we resumed opening new positions to adjust to this positive market direction.
Trading Activity: Buys and Holds
In line with our momentum ranking strategy from Andreas Clenow’s book, “Stocks On the Move,” we made some strategic buys this week. We initiated positions in DOW Inc., known for its chemicals and materials science products, and Corning Inc. (GLW), a manufacturer known for glass and ceramics used in various technologies. Also joining the portfolio are LyondellBasell Industries (LYB) and Westlake Corporation (WLK), both players in the specialty chemicals sector.
Though we didn’t make any sales this week, we’re keeping a close watch. Our commitment to sell if a stock drops below the 100-day moving average or falls out of the top 10% in rankings remains unwavering.
Sector Strength and Performance Review
This week highlights the strength of the Technology sector in our portfolio, predominantly featuring names like Teradyne (TER), Ciena Corporation (CIEN), and Allegheny Technologies Incorporated (ATI), which aren’t necessarily in technology but are among our top holdings. Our top performers were TTM Technologies, Inc. (TTMI) with a remarkable 26.7% gain, followed by Lam Research Corporation (LRCX) and TER, whereas Darling Ingredients Inc. (DAR) underperformed, slightly dipping by 5.0%.
Our portfolio outpaced the SPY with an impressive weekly return of 12.04% compared to the SPY’s 5.8%. Stocks currently favored by our model but not held include Agilent Technologies (A), Alcoa Corporation (AA), and others, reflecting a diverse set of opportunities.
We’re pleased with the current momentum and positioning and would love to hear your thoughts. Share your comments below!
This week’s transactions:
-
Sold:
- No sells in this week!
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Bought:
-
Rebalanced / added:
- No positions were added to in this week!
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Rebalanced / reduced:
- No positions were reduced in this week!
Index Distribution:
Our portfolio is currently dominated by stocks from the S&P 500 index.
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 |
|---|---|---|---|---|---|---|
| TER | Teradyne, Inc | S&P 500 | Technology | 57.23B | -1.99% | 0.083 |
| CIEN | CIENA Corp | S&P 500 | Utilities | 66.08B | -8.99% | 0.08 |
| ATI | ATI Inc | S&P 400 | Industrials | 22.25B | -3.03% | 0.071 |
| AMAT | Applied Materials Inc | S&P 500 | Technology | 313.57B | -2.99% | 0.071 |
| ROIV | Roivant Sciences Ltd | S&P 400 | Healthcare | 20.83B | -4.04% | 0.061 |
| WDC | Western Digital Corp | S&P 500 | Technology | 123.99B | 3.93% | 0.059 |
| FIX | Comfort Systems USA, Inc | S&P 500 | Consumer Cyclical | 58.02B | 0.85% | 0.055 |
| MTSI | MACOM Technology Solutions Holdings Inc | S&P 400 | Technology | 19.77B | -0.34% | 0.053 |
| WLK | Westlake Corporation | S&P 400 | Basic Materials | 15.08B | -5.09% | 0.048 |
| DAR | Darling Ingredients Inc | S&P 400 | Consumer Defensive | 9.46B | -8.16% | 0.048 |
| DOW | Dow Inc | S&P 500 | Basic Materials | 28.14B | -8.50% | 0.044 |
| LYB | LyondellBasell Industries NV | S&P 500 | Basic Materials | 23.60B | -12.72% | 0.04 |
| GLW | Corning, Inc | S&P 500 | Technology | 148.36B | -2.29% | 0.039 |
| MKSI | MKS Inc | S&P 400 | Technology | 18.45B | 0.17% | 0.037 |
| TTMI | TTM Technologies Inc | S&P 400 | Technology | 12.54B | -3.25% | 0.034 |
| STX | Seagate Technology Holdings Plc | S&P 500 | Technology | 116.20B | 3.03% | 0.034 |
| ALB | Albemarle Corp | S&P 500 | Basic Materials | 22.34B | -7.99% | 0.033 |
| LRCX | Lam Research Corp | S&P 500 | Technology | 339.64B | 1.40% | 0.027 |
| cash | Cash | Cash | Cash | – | - | 0.025 |
| MRNA | Moderna Inc | S&P 500 | Healthcare | 20.82B | -11.50% | 0.023 |
| AA | Alcoa Corp | S&P 400 | Basic Materials | 18.96B | -5.09% | 0.02 |
| COHR | Coherent Corp | S&P 500 | Healthcare | 58.78B | 0.17% | 0.014 |
As always, more trades next week!