Remember, the latest episode of the Zacks Ultimate Strategy Session will be available for viewing this Wednesday, July 12th. Steve Reitmeister, Kevin Cook, Sheraz Mian, Tracey Ryniec and Brian Bolan will cover the investment landscape from most every angle in this "must-see-TV" event.
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• Tracey and Brian Agree to Disagree on Value versus Growth
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• Tips for improving your portfolio
• And much more
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The NASDAQ hasn’t gotten many breaks recently. Every time it makes some headway of late, it seems to give the gains back in the following session. But today it was finally able to add onto Friday’s more than 1% surge. The index was the best performer of the big 3 on Monday with an increase of 0.38% to 6176.4. It would certainly be a load off the market’s mind if tech could get back to its winning ways in the days leading up to earnings season.
“Another strong bounce day for the NASDAQ is giving any one with bearish thoughts about Tech a good lesson,” said Kevin Cook in TAZR Trader.
Meanwhile, the S&P climbed 0.09% to 2427.4, but the Dow slipped 0.03% to 21408.5. The editors can’t wait for earnings season, which promises to be the next, best opportunity for stocks to get back to making new highs. “The game plan now is to try to remain patient until the market moves, where we will adjust as needed,” said Jeremy in Counterstrike. “I’m hoping for markets to make their move soon, but I have a feeling we won’t get much action until earnings season has arrived.”
Today, the portfolios included some double-digit winners for Stocks Under $10 and Momentum Trader; the latter portfolio also added a new position. Meanwhile, the Black Box Trader swapped out half of its ten stocks. Read more about these moves, and learn why the Heartland may be a good place to invest in this week’s Zacks Confidential.
Today's Portfolio Highlights:
Stocks Under $10: Everi Holdings (EVRI) has been a “super solid” position for Brian since adding it back in March. It’s been so solid, in fact, that the editor wants to protect his profits in the company, so he sold it today for a 64.4% return. Basically, EVRI hasn’t been advancing with other financial stocks…even after a competitor in the space was recently being bought out. Looking forward, the portfolio only has 17 names now, so be ready for a new name tomorrow.
Momentum Trader: With tech under pressure and Micron (MU) butting up against its 50-day moving average, Dave thought it was best to take some profit and sell half the position for a nice return of 13.9%. Meanwhile, the editor also bought a 12.5% allocation in Carolina Financial (CARO), which is breaking out through new highs. This Zacks Rank #1 is enjoying “huge” revenue and EPS growth. The complete commentary has more on today’s moves, including a breakdown of CARO’s chart.
Black Box Trader: The portfolio replaced five names in this week’s adjustment. The stocks that were sold included:
• Humana Inc. (NYSE:HUM, +1.6%)
• Hartford Financial Services (HIG)
• Best Buy (BBY)
• Thor Industries (THO)
• Calpine Corp (CPN)
The new buys that replaced these names are:
• Cigna Corp (NYSE:CI)
• Deere & Co (DE)
• Delek US Holdings (DK)
• CBRE Corp (CBG)
• XPO Logistics (XPO)
Read the Black Box Trader’s Guide to learn more about this computer-driven service designed to take the emotion out of investing.
Zacks Confidential: A recent family trip to Branson, Missouri opened Jeremy Mullin’s eyes to a section of the country that investors don’t think much about…the Heartland. The coasts get most of the attention, but Middle America is looking to make a comeback. In this week’s Zacks Confidential, Steve hands the keys over to Jeremy, who will let you know which industries are prospering in between California and New York. Read his detailed analysis and get three stock recommendations by clicking: Profits from the Heartland.
Surprise Trader: "After some struggles to start the quarter, the tech sector appears to be on track now. This is especially true in the semiconductor market, as this area easily beat out broad market indexes once again. Still, we saw broad gains across the tech space even beyond the semis, so it was good to see this market leader regain its position in front yet again.
"The recent performance from tech is definitely encouraging, but I don’t think the area is out of the woods just yet. I’d like to see the space retest old highs and surpass them before assuming the recent run of underperformance is over for now." -- Eric Dutram
All the Best,
Jim Giaquinto
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