Dids/Pexels
This Week’s Trade Exits
As soon as I exit a trade, I note that in the comments of the post where I first mentioned the trade; at the end of the week, I try to track them all in one post. Starting in July, 2024, I have also been tracking them in this spreadsheet. These are the trades I exited this week.
Stocks or Exchange Traded Products
Robinhood Markets (HOOD 0.00%↑). Bought at $16.80 on 4/19/2024; stopped out at $20.68 on 7/25/2024. Profit: 19%
Options trades
Call spread on Meta Platforms (META 0.00%↑) . Entered at a net debit of $1.66 on 7/2/2024; expired worthless on 7/26/2024. Loss: 100%.
Comments
Stocks or Exchange Traded Products
It was a little frustrating to get stopped out of HOOD, as that’s one of my favorite stocks right now, but at least it was for a profit.
Nevertheless, our core strategy continues to perform well, driven by the performance of our top ten names.
So far, we have 6-month returns for 57 weekly top names cohorts since we started this Substack at the end of December, 2022, and as you can see here, our top names have averaged returns of 22.65% over the next six months, versus SPY’s average of 13.05%.
By exiting our losers early and letting our winners run, our core strategy can generate even better performance than that.
Options
You can read my rationale for this trade below.
It was on track for a max gain until the Magnificent Seven meltdown/market rotation last week. We might see some buying opportunities on the Mag Seven stocks in the next few months; I set up a couple of screens to find them on Chartmill, with alerts to let me know when the stocks meet those criteria.
Last Day Of Our Hedging App Sale
Finally, today is the last day the Portfolio Armor iPhone app will be available for $4.99 (down from its previous price of $84.99). You can download the app here, or by aiming your iPhone camera at the QR code below.