Weekly Wins! From a Short-Term Short to a Longer-Term Long
There was something for everybody in this selection of recent wins.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
Welcome to this week's installment of Weekly Wins. We look back at five successful trades from five of our favorite contributors.
Doug Kass: Short QQQ
Doug Kass posted this short sale in the Daily Diary on Tuesday for a short-term profit, although you could have hung on an even bigger gain.
Date: July 16th, 2024
Trade: Short QQQ at $496.85
Why: The markets were overbought, with a rotation out of tech and into Trump plays, Plus, the Magnificent 7 trade was long in the tooth while their insiders were selling.
Result: As of Thursday afternoon, the QQQs closed at $479.49 for a quick gain of $17.36 or 3.5%.
Read the article here.
Bret Jensen: Long IWM
Bret Jensen gave us a profitable options trade that paid off when small-caps took off.
Date: June 28th, 2024
Trade: Long IWM using Covered Calls
Why: Bret was prepared for a rotation into small-cap stocks and away from the mega-caps.
Result: A quick 8% gain in the ETF, which rallied from $204 to as much as $226.
Read the article here.
Bob Byrne: Long XLF
This trade was so nice, Bob Byrne was compelled to take it twice.
Date: May 9th and June 25th, 2024
Trade: Long XLF around $41 (2 separate times!)
Why: Most recently, Bob felt that this was a classic technical setup that could benefit from a rotation out of tech.
Result: XLF hit Bob’s target price of $44, for a 7% gain in just a few weeks.
Read the article here.
Helene Meisler: Long C
C is for Citigroup and it was good enough for Helene Meisler
Date: November 12th, 2024
Trade: Long C above $43
Why: Citigroup shares had lagged stronger peers and Helene liked this one on a breakout over $43.
Result: Shares have been as high as $67 by Thursday of this week as the banking industry also hits Helene’s price target. A nice 56% gain.
Read the article here.
Chris Versace: Long BLDR
Chris Versace took this opportunity to build a larger position in BLDR.
Date: June 25th, 2024
Trade: Added to BLDR holdings for TheStreet Pro Portfolio
Why: Chris loves the fundamental story on BLDR, but this buy was based on the stock being oversold and undervalued.
Result: Shares have rallied to over $160, and our Portfolio is up about 24 points or 17% on this buy and 10% overall. And he only established the position in June!
Read the article here.