This is an update to our latest theoretical model portfolio report, 33 Stocks for May 2017.
A short sale position Summit Materials, Inc. (NYSE:SUM) in the theoretical short sale model portfolios has moved above its stop loss target and will be assumed closed at the end of trading on May 4. The stock is up 9.35% over the first three trading days of the month.
The S&P 500 is up 0.16% MTD, while the theoretical long models are down -0.50%. Stocks in the theoretical short sale model are down -0.14% for the assumed equivalent inverse short sale gain. MTD the theoretical long/short models are down -0.36%.
The latest short-term price targets are shown below.
Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in OR SHORT POSITION IN ANY STOCK MENTIONED 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.