Good evening and hope you had a great weekend! I’ll keep today’s update brief and to the point.
Positioning and Performance
We had a good day in our long/short portfolio on Friday, and closed up for the day, the week, and the month. We're net-neutral right now, thus this is pure alpha.
Here are our trades for the day as reported on Twitter (follow us there for updates during the trading day):
Market View
The major indices are still weak. At the same time, they are not at a level where we can expect a sustained bounce. We plan to maintain our net-neutral position while adding some longs and shorts.
Watchlist
We have a pretty big watchlist, again tilted heavily to the short side.
On the long side, we are watching DECK 0.00%↑ NVO 0.00%↑ WFRD 0.00%↑ TNK 0.00%↑ CRWD 0.00%↑
On the short side, there are a couple of ETFs and several stocks we’re monitoring:
BOTZ 0.00%↑ ICLN 0.00%↑ ATEC 0.00%↑ TOST 0.00%↑ AAP 0.00%↑ AES 0.00%↑ AGR 0.00%↑ ALK 0.00%↑ ARE 0.00%↑ ASO 0.00%↑ BBWI 0.00%↑ BURL 0.00%↑ BYD 0.00%↑ CC 0.00%↑ CM 0.00%↑ CNHI 0.00%↑ COHR 0.00%↑ COLD 0.00%↑ COTY 0.00%↑ CUZ 0.00%↑ DFS 0.00%↑ DKS 0.00%↑ DOCS 0.00%↑ DV 0.00%↑ ES 0.00%↑ FBIN 0.00%↑ FIS 0.00%↑ GH 0.00%↑ GLW 0.00%↑ HR 0.00%↑ HRL 0.00%↑ HSY 0.00%↑ IRT 0.00%↑ ISRG 0.00%↑ KEYS 0.00%↑ MDT 0.00%↑ MGM 0.00%↑ MKC 0.00%↑ MS 0.00%↑ MT 0.00%↑ OGN 0.00%↑ ONON 0.00%↑ OUT 0.00%↑ PLD 0.00%↑ RMD 0.00%↑ ROIC 0.00%↑ RY 0.00%↑ SQ 0.00%↑ STNE 0.00%↑ TGT 0.00%↑ TMO 0.00%↑ TPR 0.00%↑ TXG 0.00%↑ VVV 0.00%↑ WPC 0.00%↑
ICYMI
Some interesting things we posted/noticed since the last update - you can catch them all on Twitter/X @ MinervaCap:
That’s it for now. As always, we love to hear back from you! Please share your comments / feedback with us here or over Twitter.
Happy Trading!