Exits, 12/13/2024
How we did on the trades we exited this week.
Dids/Pexels
This Week’s Trade Exits
As soon as I exit a trade, I note that in the comments of the post where I first mentioned the trade; at the end of the week, I try to track them all in one post. Starting in July, 2024, I have also been tracking them in this spreadsheet. These are the trades I exited this week.
Stocks or Exchange Traded Products
None
Options
Calls on QIFU Technologies ( QFIN 2.17%↑). Bought at $2.15 on 10/1/2024; sold (half) at $6.45 on 12/9/2024. Profit: 200%.
Comments
Stocks or Exchange Traded Products
No exits this week, but our core strategy of buying our top ten names, putting trailing stops of 15% to 20% on them, and replacing them with current top names when we get stopped out, continues to perform well, driven by the performance of our top names.
Options
QIFU Technologies was one of our China trades using our “7777” screen (looking for names with growth, health, valuation, and profitability ratings of 7 or higher on Chartmill). Interestingly, this one spiked before China’s big economic conference later this week.
The Beneish M-Score
The Beneish M-Score is a statistical model used to estimate the odds that a public company is manipulating its earnings. There’s an online calculator at Professor Beneish’s university, but it requires you to enter in a couple of dozen fields from a company’s filings to complete.
If I can get another 10 subscribers to the Portfolio Armor web app this month, I will pay my software developers to add a Beneish M-Score calculator to the site, where you just enter a company’s ticker symbol and it populates all the fields itself.
If You Are Concerned About Downside Risk
As a reminder, you can download our iPhone hedging app by clicking on the QR code below or aiming your iPhone camera at it.
