Minerva Market View for Nov 28, 2023

The major indices dipped slightly today. Our stock picking helped us finish in the green.

Nov 28, 2023

Good evening! The major indices dipped slightly today. Our stock picking helped us, both on the long side with winners like DECK 0.00%↑ CRS 0.00%↑ and NVDA 0.00%↑ all gaining ~1% or more as well as shorts like CSIQ 0.00%↑ SJM 0.00%↑ dipping ~2% or more.

Positioning and Market View

If the pullback is indeed here, careful stock picking might be further rewarded.

The S&P / SPY 0.00%↑ / VOO 0.00%↑ while overbought still looks constructive:

The Nasdaq / VGT 0.00%↑ actually is a little more concerning since the fast stochastics line is crossing the slow line from above, but no alarm bells yet. Since we’ve had massive gains this month on both of these, it does make sense to protect gains with a protective trailing stop in case things do go out of control:

Otherwise, most other indicators point to continued gains. Several stocks are also setting up and breaking out of proper bases, which we will cover next.

Portfolio and Performance

We bought CRS 0.00%↑ and COCO 0.00%↑ on breakouts today as posted on Twitter in real-time:

We also added to current positions ARKK 0.00%↑ and CRH 0.00%↑ and booked profits on ELF 0.00%↑ today.

Among our single stock and sector ETF picks, both our longs and shorts delivered profits for us today for a daily gain of +0.4%. Beta (VOO and VGT) dragged us down, but that was okay considering their blistering performance so far this month.

We’re currently 81% net long after today’s changes. We’re seeing more short candidates pop up on our screens, which we will go to next.