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Selected Portfolio Positions Review: 07-08-20

By Lance Roberts | July 8, 2020

In this week’s selected portfolio positions review (07-08-20), we want to review a few of the trades we made recently. We also want to discuss a couple of positions we make take action on soon.


AAPL – Apple, Inc. (Looking To Take Profits)

, Selected Portfolio Positions Review: 07-08-20

  • Over the last couple of years, we have bought AAPL, taken profits, added more on dips or breakouts.
  • With AAPL pushing into the 3-standard deviation overbought zone, like many of the market sectors, we are looking to reduce our position slightly to take in some of the gains. 
  • We will look for a pullback to add back to the position. 
  • Stop loss is at $310

NFLX – Netflix (Looking To Take Profits)

, Selected Portfolio Positions Review: 07-08-20

  • Like AAPL, we added to our holdings of NFLX previously.
  • Like AAPL the recent surge has taken the stock into an extreme overbought condition.
  • We are looking to reduce our position slightly and wait for a correction or consolidation to work off the extreme conditions to rebuild the holding. 
  • Stop set at $385

AMZN – Amazon, Inc.

, Selected Portfolio Positions Review: 07-08-20

  • Also, like AAPL, after adding to AMZN previously, the near vertical spike in the AMZN suggests that profit taking is prudent. 
  • We will look for an opportunity to rebuild the position on a pullback or consolidation.
  • Stop set at $2350.

AEP – American Electric Power (Reduced Holding)

, Selected Portfolio Positions Review: 07-08-20

  • AEP and DUK have both been good holdings for us in the past, but defensive positioning has lagged as of late weighing on overall portfolio performance.
  • We still like both of our holdings and suspect they will perform better during a market correction. However, in then meantime we reduce our positioning in both DUK and AEP by 1/3rd. 

CLX – Clorox Co.

, Selected Portfolio Positions Review: 07-08-20

  • CLX has been a stellar performer since we added the position earlier this year. 
  • The COVID trades have been in favor, but with the extreme overbought condition we took profits in CLX recently and rebalanced the position in portfolios.

CMCSA – Comcast Corp.

, Selected Portfolio Positions Review: 07-08-20

  • In the same vane of the “work at home,” “COVID,” trades we added to our holdings in CMCSA.
  • We continue to like the position although it has underperformed the market as of late.
  • With the resurgence in the “virus” we suspect we will begin to see better performance as the rotation to these types of companies continues.

CSCO – Cisco Systems

, Selected Portfolio Positions Review: 07-08-20

  • As with CMCSA, we also added to our position in CSCO recently for virus play. 
  • CSCO is a bit overbought, but holding support at the 200-dma. 
  • We have a stop on the position at $40.

MSFT – Microsoft Corp. (Looking To Take Profits)

, Selected Portfolio Positions Review: 07-08-20

  • As with AAPL, AMZN, and NFLX, we are looking to take profits in MSFT at some point soon. 
  • The position is extremely overbought and extended, so a correction is likely. 
  • We like the position long-term, but valuations are very stretched currently. 

INTC – Intel Corp.

, Selected Portfolio Positions Review: 07-08-20

  • After adding INTC, we were unable to gain traction on the position and we were stopped out.

BLL – Ball Corp.

, Selected Portfolio Positions Review: 07-08-20

  • BLL is an industrial company, which makes aluminum cans.
  • With the virus gaining traction, individuals are consuming more at home, and channel checks show that BLL has been running at near capacity to meet demand. 
  • They are also considered an “essential business” so the threat of a shutdown is eliminated. 
  • We have added a small position to start, with a stop at $67.5
2020/07/08
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