The QQQ’s put in a strong week with four out of the five days closing green and closing about $1.50 off its recent highs. The three other major indices, SPY, DIA, and IWM put in similar weeks closing positive and near their all-time highs.
Earnings season unofficially kicked off this week. Expectations are very low, which doesn’t speak well to the state of the economy, but low expectations can often lead to positive upside surprises.
The NASDAQ 100 All Stars model was up +1.48% this week, though it lagged behind the very strong +2.48% performance from the QQQ, however the model is still outperforming for the year. All of our holdings closed the week positive and remain in the top 10 rankings.
For daily performance updates of the model positions and top 25 ranking stocks see the Model Portfolio section of the member area. If there are any changes to positions from stops or targets being reached, we’ll email you.
Below you’ll find your summary of weekly and longer-term performance with news highlights and price action analysis for each of the positions.
You’ll notice the weekly position summary tables include unique gauges. These gauges will give you a quick read on the strength of the stocks trend and how the trade is progressing. For more information on how to interpret and use these new gauges you can review two quick tutorials in the FAQ section of your member area here. You’ll also find the tutorials for the gauges in the “How to Use the Model” section of the member area
The Current Condition of the Model
Our two new positions for the month, NXPI and DLTR, along with the three existing positions all closed the week positive. The model did lag the benchmark, in-part due to the partial positions in AVGO and MNST from profit taking.
Most of the holdings are in similar trading ranges near their recent or all-time highs. Aside from a big move in DLTR, the positions were relatively quiet on the week.
All five of the positions currently have a hold rating.
For more information about the current and closed positions go to the Model Portfolio section of your NASDAQ 100 All Stars member area.
Best wishes for your trading,
James Kimball, Trader & Analyst
