Minerva Market View for Oct 30, 2023
We may get some pops and rally attempts this week, but we will need to see strength before we can get too long.
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!