Good day,
It’s time to take stock of the week’s performance again. Before I measure the performance of the stocks KUTE selected, let’s first look at the markets’ performance. At the beginning of the week, KUTE has predicted that the market will be trading broadly within range with likely downside retraction. DJIA opened at 9,972.33 and closed last night at 9,712.73. The heady gains that followed a better-than-expected GDP headline number in the previous session proved unsustainable as sellers returned to action last night to send stocks sharply lower. Losses were broad-based as nearly 95% of the issues in the S&P 500 logged losses, which contributed to the worst weekly loss in five months for the broad market measure. During the week, DJIA’s high was 10.107.99 and lowest was 9,664.89.
With the macro view, I decided to buy on dip and sell on 10% target for the 2 stocks that had passed through my KUTE criteria. For PTEN, the stock opened at $17.00 and closed last night at $15.58. It went up to the highest at $17.62 and lowest at $15.34 for the week. As mentioned in my blog on Friday morning, I sold 2 positions at $17.30, held on to 2 more positions and bought 1 more last night at $15.79.
CAH opened the week at $28.66 and closed at $28.34. Its’ week range was $28.22 to $29.10. To be honest, I didn’t buy CAH because I was sticking to my 30-20-50 rule and I traded PTEN to the max of 50% of my capital because I wanted to leverage on the stock’s high beta. With the decision from KUTE, I made money even though the markets were down for the week. As a portfolio, I am losing in the stocks I held in Citibank. It closed last night at $4.09. Again I would like to emphasise that Citibank is bought out of the scope of criteria for KUTE system and I have the intention that it will form part of my 30% holding portion. With the world economy recovering, I can only choose to believe I will soon be back in the money for this stock. For my 30-20-50 rules, the time horizon is more than 6 months for 30 and trading within the week for the 50. The 20 portion is for liquidity and there could be situations that the stocks in 50 will be held as part of the 30.
As for the rest of the stocks that were filtered using the fundamental criteria, MLI opened the week at $25.72 and closed the week at $23.66, DRIV opened at $23.74 and closed down at $22.83, WTS opened at $30.81 and closed down at $28.25, EIX opened at $32.64 and closed the week down at $31.83 and BHI opened at $45.36 and closed the week down at $42.07. These are stocks that did not pass through the technical of the KUTE system and was not traded.
Have a great day and see you soon on Monday morning for the new stocks to trade next week.
God bless!
Francies Cheng
BBus MAppliedFinance
It’s time to take stock of the week’s performance again. Before I measure the performance of the stocks KUTE selected, let’s first look at the markets’ performance. At the beginning of the week, KUTE has predicted that the market will be trading broadly within range with likely downside retraction. DJIA opened at 9,972.33 and closed last night at 9,712.73. The heady gains that followed a better-than-expected GDP headline number in the previous session proved unsustainable as sellers returned to action last night to send stocks sharply lower. Losses were broad-based as nearly 95% of the issues in the S&P 500 logged losses, which contributed to the worst weekly loss in five months for the broad market measure. During the week, DJIA’s high was 10.107.99 and lowest was 9,664.89.
With the macro view, I decided to buy on dip and sell on 10% target for the 2 stocks that had passed through my KUTE criteria. For PTEN, the stock opened at $17.00 and closed last night at $15.58. It went up to the highest at $17.62 and lowest at $15.34 for the week. As mentioned in my blog on Friday morning, I sold 2 positions at $17.30, held on to 2 more positions and bought 1 more last night at $15.79.
CAH opened the week at $28.66 and closed at $28.34. Its’ week range was $28.22 to $29.10. To be honest, I didn’t buy CAH because I was sticking to my 30-20-50 rule and I traded PTEN to the max of 50% of my capital because I wanted to leverage on the stock’s high beta. With the decision from KUTE, I made money even though the markets were down for the week. As a portfolio, I am losing in the stocks I held in Citibank. It closed last night at $4.09. Again I would like to emphasise that Citibank is bought out of the scope of criteria for KUTE system and I have the intention that it will form part of my 30% holding portion. With the world economy recovering, I can only choose to believe I will soon be back in the money for this stock. For my 30-20-50 rules, the time horizon is more than 6 months for 30 and trading within the week for the 50. The 20 portion is for liquidity and there could be situations that the stocks in 50 will be held as part of the 30.
As for the rest of the stocks that were filtered using the fundamental criteria, MLI opened the week at $25.72 and closed the week at $23.66, DRIV opened at $23.74 and closed down at $22.83, WTS opened at $30.81 and closed down at $28.25, EIX opened at $32.64 and closed the week down at $31.83 and BHI opened at $45.36 and closed the week down at $42.07. These are stocks that did not pass through the technical of the KUTE system and was not traded.
Have a great day and see you soon on Monday morning for the new stocks to trade next week.
God bless!
Francies Cheng
BBus MAppliedFinance
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