We're Closing Out Our Deere Position
This accelerated move is affected by the nervous market ahead of quarterly earnings from Nvidia.
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| Symbol | Action | # Shares Traded | Recent Price | % of Portfolio* | Shares Owned* |
|---|---|---|---|---|---|
SELL | 220 | $356.5 | 0% | 0 |
* Amid an increasingly nervous market, we are accelerating our closing out of the portfolio's position in 4-rated DE shares.
After you receive this Alert, we will sell the remaining 220 shares of 4-rated Action Alerts PLUS name Deere & Co. DE at or near $356.50. This will close out the portfolio's DE position and this last slug of DE shares returned -1.7%.
Witnessing the market's reaction this morning to quarterly results from Palo Alto Networks PANW and Teladoc Health TDOC as well as Nvidia NVDA shares lower in early trading tells us we have a nervous market ahead of quarterly earnings from Nvidia after today's market close.
In our Alert yesterday about what we'll be watching with Nvidia, we also pointed out the shares account for 4.2%-5.0% of the S&P 500 and Nasdaq Composite, which means the market reaction to Nvidia's results will strongly influence the market's next move.
With expectations running high and the risk Nvidia may not live up to the lofty expectations set by the parabolic move in its shares, we are going to accelerate our exit from Deere.
That move will give us incremental cash, something we can put to work in companies with better earnings growth prospects in the coming quarters, but it will also help shield us from any negative Nvidia earnings fallout.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed pricehere. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, Action Alerts PLUS was long DE.