We Are Prudently Locking in Massive Gains on These Two Holdings
Because we see more upside ahead, we will keep sizable exposure to both stocks.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
AMZN | Sell | 85 | 238.25 | 861 | 4.0 |
MS | Sell | 73 | 140.25 | 1,462 | 4.0 |
After you receive this Alert, we will make the following trades:
-- Sell 85 shares of Amazon AMZN at or near $238.25. Following the trade, AMZN shares will account for roughly 4.0% of the portfolio.
-- Sell 73 shares of Morgan Stanley MS at or near $140.25. Following the trade, MS shares will make up about 4.0% of the portfolio.
With the short-term S&P Oscillator pointing to an overbought market, we are going to ring the register and lock in some pronounced gains on two holdings that have made considerable gains over the last several months — Amazon and Morgan Stanley. Since the early August bottom in the market, both AMZN and MS are up more than 50%. While neither position is passing a 4.5% position size for the portfolio, they are our two largest holdings, which is another factor in our decision.
After the trade, the portfolio will continue to have sizable exposure to both AMZN and MS shares. The reason for that is we continue to see AMZN benefiting from the accelerating shift to digital advertising and cloud/AI adoption, and MS from an improving investment banking activity.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long AMZN and MS.
