$SPY, $STUDY, The Alpha One
Model continues to grow both on the appreciation of the portfolio holdings now
at eleven positions or 55% invested and the daily trading of the SPY options. This past week I added five names to the portfolio
$DAN, $ICLR, $ORAN, $SKX and $UA. I most
likely will hang around this level as the quarter unwinds. We are now past the peak of earnings
announcements and the media faces will begin to hyper report on geopolitical
events which will most likely cause market volatility to remain high. If there
were only a news source less interested in selling minutes and more interested
in reporting factual news without ‘hyper opinion’ the world would be a better
place.
In addition to the S&P
500, both the small-cap Russell 2000 and mid-cap S&P 400 indexes are at
fresh records. Stocks are overbought on a short term basis but not on a medium
term basis. There is more room to go on the upside. Momentum is bullish while
sentiment isn’t overly complacent yet. Those that are underinvested are likely
to start buy in on pullbacks, keeping downside limited. Technology stocks have
outperformed lately. The NASDAQ looks to be making its way back to 5000. It is
truly a stock pickers market so measure twice and cut once. Enjoy the long Presidents Day weekend!
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