Trade Alert For Equity & ETF Models
This morning we sold 1/2 of our Amazon stake and reduced the SPDR Discretionary ETF (XLY) by 1% of the portfolio (Amazon is the biggest component.) While we like Amazon longer-term for many reasons, the earnings report yesterday, which caused a spike in the stock this morning, shows weakening across many metrics of sales and revenue growth. As such we are reducing the position and will wait for a future opportunity to add back to it.
- Sell 50% of Amazon (AMZN)
- Reduce XLY by 1% of the portfolio
Lance Roberts is a Chief Portfolio Strategist/Economist for RIA Advisors. He is also the host of “The Lance Roberts Podcast” and Chief Editor of the “Real Investment Advice” website and author of “Real Investment Daily” blog and “Real Investment Report“. Follow Lance on Facebook, Twitter, Linked-In and YouTube
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