New Stock Picks Ahead of the Fed's Next Move
December 8, 2024 - Update
From now on, I’ll review the macro environment only at the end of each month or when there’s a major market shift or big news.
Macro Overview
The key variables to watch remain:
Inflation and GDP data as top priorities.
Interest rates and financial conditions follow closely.
Next week, the November CPI (inflation data) will be released, with a slight increase expected. On December 18th, the Fed is anticipated to cut rates by 0.25%.
For now, the data points to a supportive backdrop for stocks.
Index Performance This Week
NASDAQ
+3.34% for the week
All key moving averages trending upward
Increased volume
Outperforming the S&P 500
RSP (Equal Weight S&P 500)
-1.3% for the week
Still in an uptrend but underperforming the NASDAQ
Highlights a tech-driven market environment
Portfolio Updates
10X MOMENTUM PORTFOLIO (link to portfolio spreadsheet)
Rocket Lab (RKLB) exited at +201% gain (+17,106% annualized!), becoming my second-best trade since inception.
All Stop Loss levels updated.
Below is the current picture of this portfolio:
All my Stop Loss levels are updated.
This Week’s Moves:
Buy: 1715 shares of Esperion (ESPR) at $3.59 (if triggered).
Company Overview: A fast-growing pharmaceutical small-cap with a $695M market cap and $295M in sales (last 12 months). Growth is forecasted at 78% over the next two years.
Technical Analysis: Breaking out of a long consolidation period on the weekly chart.
Stop Loss: $2.35 (to account for volatility).
Esperion Weekly Chart:
10X Underpriced Growth Portfolio (link to portfolio spreadsheet)
Stopped out of Lyft at +1.7% (basically breakeven).
Arcutis (ARQT) buy order wasn’t triggered.
Here is what the Portfolio looks today:
This Week’s Moves:
Keep Arcutis (ARQT) buy order for 380 shares at $13.10 (Stop Loss: $9).
Buy:
50 shares of Block at $98.26 (Stop Loss unchanged).
325 shares of Iris Technologies (IREN) at $15.39 (Stop Loss: $11.49).
Sell: 1/3 of Applovin (APP) shares (15 shares) at Monday’s opening.
Current Performance: Applovin is up +256% since mid-September (+26,700% annualized!).
Iris Technologies Overview:
Focused on Bitcoin mining using 100% renewable energy.
Operates high-performance, large-scale mining facilities in areas with low-cost electricity.
Essentially a bet on Bitcoin’s long-term performance.
That’s all for the week!
PS. I am working on a new Portfolio Idea:
10X Underpriced Compounders.
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Important: This is not investment advice. Please consult a licensed financial advisor before making any investment decisions.
Disclosure: The content has been reviewed using artificial intelligence to enhance readability and ensure grammatical accuracy.