The Portfolio Armor Substack

The Portfolio Armor Substack

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The Portfolio Armor Substack
The Portfolio Armor Substack
Top Names, 7/11/2024

Top Names, 7/11/2024

Plus, a quick Tesla trade update.

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Portfolio Armor
Jul 12, 2024
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The Portfolio Armor Substack
The Portfolio Armor Substack
Top Names, 7/11/2024
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In the bustling atmosphere of the New York Stock Exchange, we find two distinct anthropomorphic characters at the heart of the trading floor's energy and activity. One is a bull, standing tall and clothed in an elegant, sharp suit that speaks to its bullish outlook and unyielding confidence in the market's potential. Its horns are polished, blending seamlessly into its professional attire, symbolizing strength and optimism. Beside the bull, a bear presents a stark contrast, embodying caution and a readiness for market downturns. This bear, also dressed in a refined suit, reflects a strategic and careful approach to trading, with its fur subtly peeking out from its clothing, hinting at its inherent nature. Together, they engage in stock trading, analyzing screens filled with fluctuating market data, discussing strategies, and making calls. The scene captures their dynamic relationship against the backdrop of the NYSE, with traders bustling around, screens blinking with live updates, and the air filled with the essence of high-stakes financial decisions.

A Quick Tesla Update

Before we get to tonight’s Top Names post, a quick update on our Tesla (TSLA 0.00%↑ ) trade from this morning. In that post, I mentioned that although I remained bullish long term on Tesla, I was betting on a modest (~3%) pullback over the next several trading days.

As it happened, we got an 8.44% drop in Tesla today, putting our trade on track for a 150% gain next Friday if Tesla stays below $255 by then. I’ve removed the paywall on this morning’s trade alert, so you can read it below, but let me quickly explain why I placed this trade. No, I didn’t know Tesla would postpone the development of its robotaxi, but I knew this:

  1. Tesla’s RSI (Relative Strength Index) of 87 indicated the stock was overbought.

  2. After closing in the green for 11 or 12 straight sessions, the stock seemed like it was ready for a pullback.

  3. The net credit available on this call spread so close to the money was too good to pass up.

Trade Alert: Being Tactical About Tesla

Portfolio Armor
·
July 11, 2024
Trade Alert: Being Tactical About Tesla

Tesla: Time For A Pause Three months ago, when Tesla () was trading at $173 per share, we placed a bullish bet on the company (Trade Alert: EVs).

Read full story

Now on to tonight’s Top Names post.

Our Core Strategy

Our core strategy is to buy equal dollar amounts of the Portfolio Armor web app’s top ten names, put trailing stops of 15%-20% on them, and replace them with names from the current week’s top ten when we get stopped out of a position.

A Top Names Performance Update

Before we get to this week’s top ten names, let’s look at the final, 6-month performance of our top ten names from January 11th.

Top Names, 1/11/2024

Portfolio Armor
·
January 12, 2024
Top Names, 1/11/2024

Our Core Strategy Our core strategy is to buy equal dollar amounts of the Portfolio Armor web app’s top ten names, put trailing stops of 10%-15% on them, and replace them with names from the current week’s top ten when we get stopped out of a position.

Read full story

Over the next six months, our top ten names from January 11th were up 28.42%, on average, versus up 17.2% for the SPDR S&P 500 Trust (SPY 0.00%↑).

So far, we have 6-month returns for 55 weekly top names cohorts since we started this Substack at the end of December, 2022.

And as you can see above, our top names have averaged returns of 23.27% over the next six months, versus SPY’s average of 13.04%. You can see an interactive version of the table above here, where you can click on each date and see a chart showing each of the holdings that week.

This Week’s Top Names

Below are Portfolio Armor’s current top ten names as of Thursday’s close.

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