We're Trimming 2 Holdings to Lift Our Cash Position
These positions have bucked the market trend and enable us to get ready for the eventual buying opportunity.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
LMT | Sell | 73 | 458 | 315 | 3.0 |
WM | Sell | 100 | 234 | 620 | 3.0 |
After you receive this Alert, we will make the following trades:
-- Sell 73 shares of Lockheed Martin LMT at or near $458. Following the trade, LMT shares will account for roughly 3.0% of the portfolio’s assets.
-- Sell 100 shares of Waste Management WM at or near $234. Following the trade, WM shares will account for roughly 3.0% of the portfolio’s assets.
We are going to further boost the TheStreet Pro Portfolio's cash levels as the S&P 500 moves lower, inching closer to a relative strength level near or below 30, falling into oversold territory. We are doing this to prepare for the buying opportunity that will eventually present itself. Whether or not it appears this week will hinge on tonight’s State of the Union address, tomorrow’s February ISM Services PMI report, Friday’s Employment Report, as well as Fed Chair Powell’s comments on Friday.
The two positions we are trimming back have bucked the market trend, moving higher of late, and that has put WM shares into overbought territory. As we harvest that 15% year-to-date gain compared to the S&P 500’s corresponding decline, we will also lighten up on Three-rated LMT shares. They too have had a nice rebound, but are bumping up against resistance near the 50-day moving average between $462-$463.
(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 LMT and WM.
