We’re Picking Up Shares of This Social Media Powerhouse, Starting New Power Position

Symbol	Transaction Type	# Shares Traded	Recent Price $	Shares Owned After Trade	% Portfolio
META	Buy	25	630.99	322	3.5
NLR	Buy	643	88.58	643	1.0

After you receive this alert and when the market opens later on Wednesday morning, the Portfolio will make the following trades:

Buy 25 shares of Meta Platforms (META) at or near $630. Following the trade, the Portfolio will own 322 META shares, roughly 3.5% of its assets.

Buy 643 shares of the VanEck Uranium and Nuclear ETF (NLR) at or near $90. Following the trade, the Portfolio will own 643 NLR shares, roughly 1.0% of its assets.

VanEck Uranium and Nuclear ETF

We are also starting a position in the VanEck Uranium and Nuclear ETF (NLR), using it current oversold condition to do so as well as Eaton’s (ETN) comment on Tuesday that it is tracking tracks 366 gigawatts of announced data center projects, up from 307 gigawatts at its last update, against about 50 gigawatts of installed capacity.

In addition to American Electric Power (AEP) sharing that it is evaluating a potential small modular reactor in Indiana with X-Energy and Amazon (AMZN), this month The Nuclear Company announced plans for an energy campus in Lewis County, Kentucky, along the Ohio River, that could eventually accommodate up to six Westinghouse AP1000 reactors producing about 6.6 gigawatts of electricity. In September, the DOE announced the final closing of a loan for up to $1.9 billion to NextEra Energy (NEE) to help finance the restart of the Duane Arnold Energy Center in Linn County, Iowa.

There is also the outcome of the midterm elections and the 2026 governor elections that favor the Democrats. That bodes well in our view for nuclear power as a way to address the demand for electricity while also addressing power sector carbon emissions.

Because this is a new position for the Portfolio, we will look to build up the exposure based on incoming data, and much like our other ETF positions, we prefer the diverse exposure the ETF structure brings. Upcoming catalysts include earnings from Constellation Energy (CEG) on November 9, and similar reports from other constituents. As we begin this position, we will instill an initial price target of $113, but we will revisit that target based on incoming data, including constituent earnings call an their revelations. And because it is a new position, we’re going to set a wider berth for the initial checkpoint level, placing it at $78.

The low-double digit net upside translates into a Two rating out of the gate, but similar to our initial price target, we’ll revisit that as more of the basket reports. If the 200-day moving average on the weekly chart offers solid support, we may be revisiting this position before too long.

Thoughts on Other Holdings

If the shares of Arista Networks (ANET) weren’t moving like they are in pre-market trading following Tuesday night’s beat-and-raise earnings report, we’d be nibbling on the position. However, based on the implied position size based on those pre-market levels, we’ll hold off for now even though we’re likely to bump up our price target for the shares later on Wednesday morning.

We are continuing to track the shares of Alphabet (GOOGL) and Marvell (MRVL), but we are looking for the technicals to improve before contemplating any moves. For GOOGL and MRVL shares that means looking for turn in their respective MACD indicators.

For the shares of Paccar (PCAR), we’re waiting for preliminary October heavy truck orders, but as we’ve shared the real catalyst will be when nonconformance penalties (NCPs) tied to the 2027 emissions rules are finalized. The timing for that spans later this month to early December. We’ll explain more on that when we review the October heavy truck order data.

Following our comments on Palantir’s (PLTR) earnings on Tuesday, those shares are also ones we are stalking closely.

Prudent Portfolio Management

With equity futures pointing to a rebound in the market, subject to what we see and how sustained the move is, there is potential for some prudent Portfolio management. As background, that tends to happen when a position size pushes past 4.5% of the Portfolio’s assets or the position’s relative strength index (RSI) level pushes it into a deeply overbought condition. If both happen, that’s an even bigger signal for us to lock in gains.

With that refresher given, the holdings that may fall into either one of those conditions and are therefore on our radar screen are Apple (AAPL) at 4.3% of the Portfolio’s assets, American Express (AXP) and one or two others whose position size are above 4% based on Tuesday night’s market close. On the RSI watch, currently the position with the highest RSI reading is Costco (COST) at 63.49 followed by Waste Management (WM) near 60.

In each of these cases our respective price targets are higher, in some cases much higher, but this is a matter of Portfolio discipline should it come to pass.

On the Hunt for More New Blood

We are adding some new blood to the Portfolio on Wednesday morning with the addition of NLR shares discussed above. As the outcome of the midterms become clearer, we’ll continue to evaluate new positions both for the Portfolio and the Bullpen on a case-by-case basis, and for the most part, we’ll stick to identifying multi-year tailwinds, superior EPS growth and favorable to compelling risk to reward tradeoffs.

More Pro 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 AAPL, AMZN, ANET, AXP, COST, ETN, GOOGL, META, MRVL, PCAR, PLTR and WM.