This is an update to our model portfolio report, 23 Stocks for November 2016.
Theoretical Short Model Portfolio Assumes 100% Cash
The Opportunistic Short Model portfolio has assumed a 100% cash position as of the November 11, 2016 close and will remain that way at least through the balance of the month.
Our two theoretical long/short models differ from one another in that one does not use cash allocation rules (the Core Model) and the other does (the Opportunistic Model).
12 out of 27 Stocks in the Theoretical Short Model Have Hit Stop Losses
For the month to date, 12 out of 27 stocks in the theoretical short model portfolios have hit stop loss targets including two additional stocks at the close today: Penskey Automotive Group (NYSE:PAG) and Tribune Media Company (NYSE:TRCO). These stocks will be replaced with cash positions as of the close tomorrow.
A theoretical short position in Ctrip.com International Ltd. (NASDAQ:CTRP) reached a price target today and will be assumed closed at the end of trading tomorrow. CTRP was our favorite short idea back in October 2016.
Until noted otherwise, the Core Short Model will continues to maintain positions in the 15 remaining companies.
4 our of 23 Stocks in the Theoretical Long Model Have Hit Price Targets
A long position in Northrop Grumman Corp. (NYSE:NOC) reached its stock price target today and will be assumed closed and replaced with cash at the end of trading tomorrow.
For the month to date, 4 out of 23 long positions have reached their price targets, including NOC.
Detailed returns and stock price targets
For updated returns and stock price targets, please visit our latest post on jstephencastellano.tumblr.com.
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in OR SHORT POSITION IN ANY STOCK over the next 72 hours.
Additional disclosure: There are limitations inherent in our theoretical model results, particularly with the fact that such results do not represent actual trading and they may not reflect the impact material economic and market factors might have had on our decision making if we were actually managing client money.