Nasdaq Down -1.27% Today, Model Portfolio Up +0.46%
This is an update to our latest model portfolio report 36 Stocks for November 2017. A more detailed daily report is available on Seeking Alpha.
New Actions Required
Long model:Kohl's Corporation (KSS) reached a price target.*
Long model: Illinois Tool Works Inc. (ITW) reached a price target.*
Short sale model: The Mosaic Company (MOS) reached a stop loss target.*
Short sale model: Axalta Coating Systems Ltd. (AXTA) reached a stop loss target.*
*We intend to rebalance the model portfolio just prior to the close tomorrow, November 30. If these stocks pass our ranking process, the positions will be retained in the model portfolios at new initial equal weights.
Also of Note
The Nasdaq (QQQ) sold off -1.27% today, presumably on “profit taking.”
While 7 from the original 10 Tech and Materials stocks in our long model were hard hit, the overall Core Long Model portfolio finished +0.46% higher today.
MKS Instruments Inc. (MKSI) was the worst performer in the long model today, down -8.75%.
Norfolk Southern Corp. (NSC) was the best performer today, up +4.80%.
YY Inc. (YY), Kronos Worldwide, Inc. (KRO) and Arista Networks, Inc. (ANET) -- which were down -6.97%, ,-4.24%, and -3.84%, respectively, today -- had previously reached price targets and had been replaced with cash positions. (See our recent write-ups on YY and KRO.)
Return Data
For the month to date the Core Long Model portfolio is up +5.03% on a simple cumulative return basis (sum of daily returns). This compares to the S&P 500 up +2.01%, the S&P 1500 Composite up +2.08%, and the Russell 2000 up +2.66%. The Core Long/Short Model is up +5.56%.
Presaging Major Sell Side Analyst Actions
MTD 12 stocks in the long model have received 34 positive price target revisions, and 6 stocks have received 8 ratings upgrades from sell side firms, led by Facebook, Inc. (FB).
MTD 5 stocks in the short sale model have received 17 negative price target revisions, and 5 stocks have received 8 ratings downgrades, led by Under Armour, Inc. (UAA).
Latest model portfolio returns and price targets and other details are available on our Seeking Alpha blog.
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