We're Adding More Shares of These 5 Portfolio Holdings
ISM’s February Service PMI report brings some nice relief.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
AXP | Buy | 75 | 284.25 | 460 | 2.8 |
AXON | Buy | 45 | 530 | 145 | 1.6 |
ETN | Buy | 25 | 283 | 630 | 3.75 |
URI | Buy | 30 | 615 | 270 | 3.5 |
NLR | Buy | 137 | 77.50 | 615 | 1.0 |
After you receive this Alert, we will make the following trades:
-- Buy 75 shares of American Express AXP at or near $284.25. Following the trade, AXP shares will account for roughly 2.8% of the portfolio's assets.
-- Buy 45 shares of Axon Enterprise AXON at or near $530. Following the trade, AXON shares will account for roughly 1.6% of the portfolio's assets.
-- Buy 25 shares of Eaton Corp ETN at or near $283. Following the trade, ETN shares will account for roughly 3.75% of the portfolio's assets.
-- Buy 30 shares of United Rentals URI at or near $615. Following the trade, URI shares will account for roughly 3.5% of the portfolio's assets.
-- Buy 137 shares of the VanEck Uranium and Nuclear ETF NLR at or near $77.50. Following the trade, NLR shares will account for roughly 1.0% of the portfolio's assets.
After digesting the February Service PMIs, which were generally better than expected and point to the economy being on firmer footing, we are picking up additional shares of AXP, AXON, ETN, URI and NLR for the TheStreet Pro Portfolio. We are also taking advantage of the technical setup that we see in the shares, especially when it comes to their respective MACD (moving average convergence/divergence) trends.
As we make these trades we will make the following panic point adjustments:
AXP to $255 from $260.
AXON remains at $480.
ETN to $255 from $275.
NLR to $70 from $73.
URI to $580 from $650.
As the market recovers and these stocks do the same, we expect to lift those panic points as needed.
After completing these trades, the portfolio’s cash position should be around 8.8%, and coupled with the inverse ETFs that gives us ample fire power to remain opportunistic with the portfolio.
(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 price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long AXP, AXON, ETN, NLR and URI.
