June 13, 2024
Long time no chat!
So let’s review our call-outs as SP500 closed at 5421 yesterday (6/12/24).
LOAR 28%
CAVA 23%
SHAK -11%
SG 45%
GLD .24% (Unchanged)
SLV 8%
VNQ 1.8%
DRN 5%
COST 9.9%
All of these except SHAK are up, we can also add GLD to the losers as it basically is unchanged since last post (5/7/24). 2/9 isn’t so bad!
Now, the tech sector stocks I didn’t mention in the post directly are up, with the exception of AMD (semi), but I’m doing relatively well. DELL is bringing my portfolio down, but I’m still holding onto it. I’m hoping it gets well entrenched in the SEMI/Data-center space and then slowly increase the contracts. Analysts are frustrated that even with how well enveloped DELL is in the space, they aren’t any increases in profits, revenue yes but not profits! Really risky move by the CEO, especially as we are also seeing him sell the stock. However, I’m sticking with it, my CB is at 152 and it closed at 131.
I always try to be timely with these posts and so I’ll share I am building a position in Energy stocks. I’ve added OXY (Buffet buys around this area and the market usually follows), HES, SMR (Nuclear), FSLR (Solar), MRO, BEPC, LBRT, OKE, CEG, AR (Nat Gas) and SU. I’m inching my way in as there isn’t really anything stopping Crude from going lower, I see support at 69 area, and also what it tagged earlier this month around 72 area. I know I also added Nuclear, producers, renewables, and nat-gas stocks in the list, and so you could ask, “Why aren’t you tracking TAN, NG or X/Y/Z?”.
In my experience, CL/Crude and XLE/OIH are usually the ones directing the ship and so if they move up, the rising tide lifts all the boats.
Currently, I’m still in longs but hedged through SOXS, TECS and TZA. I’m unsure if there will be digestion after such a big move in the past 2 weeks, but if there is I’m prepared. I’ve been busy with the MBA, managing portfolios, and trying to react to this market and so I haven’t had a chance to post, my apologies.
TLDR:
Long Energy stocks
In a small short as we moved up too much too soon IMO
Updates on positions
Disclaimer: Please note that all information shared here is for informational purposes only and not intended as financial advice.
