We're Locking in Another Round of Big Gains in These 2 Holdings
As these stocks power ahead, they've crossed the 4.5% level in the Pro Portfolio, so we're selling off the excesses.
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| Symbol | Transaction Type | # Shares Traded | Recent Price | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
MRVL | Sell | 305 | 81.30 | 2,385 | 4.0 |
MS | Sell | 270 | 119.75 | 1,615 | 4.0 |
After you receive this Alert, we will make the following trades:
- Sell 305 shares of Marvell Technology MRVL at or near $81.30. Following the trade, the portfolio will still own 2,385 MRVL shares, roughly 4.0% of the portfolio.
- Sell 270 shares of Morgan Stanley MS at or near $119.75. Following the trade, the portfolio will still own 1,615 MS shares, roughly 4.0% of the portfolio.
In yesterday’s video, we telegraphed that we would want to capture any incremental moves with MRVL and MS shares following quarterly results and guidance from Taiwan Semiconductor TSM and Wall Street adjusting its MS price targets following Morgan’s fantastic earnings report yesterday.
The continued strength in MRVL and MS shares has led to their position sizes crossing the 4.5% level in the Pro Portfolio and we're responding prudently. This is a good problem to have, because it means locking in another batch of significant gains for the portfolio following the 45% and 50% increase in MS and MRVL shares over the last few months.
With demand from AI and data center markets expected to continue and the improving landscape for both investment banking and wealth management, we will continue to have sizable exposure to these two positions. Should the shares continue to run, we may elect to lock in additional gains, especially if the S&P 500 or Nasdaq Composite becomes overbought.
Later we'll give detailed thoughts on TSM’s earnings and guidance, and our thoughts on the September retail sales report that supports our view on Costco COST and Amazon AMZN.
(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 click on Closed Trade Gain/Loss and toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long AMZN, COST, MRVL and MS.
