This is an update to our model portfolio report, 33 Stocks for August 2017.
A short sale position in Under Armour, Inc. (UAA) achieved its target in the theoretical models today and will be assumed closed and replaced with cash at the end of trading tomorrow. MTD the stock is down -11.04%.
A short sale position in Penske Automotive Group, Inc. (PAG) also achieved its target in the theoretical models and will be assumed closed and replaced with cash at the end of trading tomorrow. MTD this stock is down -10.34%.
We note that a short sale position in Vail Resorts, Inc. (MTN) was assumed closed today after reaching a stop loss level yesterday. MTD this stock is up +4.17%.
Due to another spike in the Market Volatility Index (^VIX) today, the theoretical Opportunistic Long Model portfolio will extend its 100% cash position through at least Friday, September 15, 2017.
For the month to date, the theoretical Core Long Model portfolio is down -3.21%, the S&P 500 is down -1.62%, and the SPDR S&P 500 ETF (SPY) is down -1.56%.
The theoretical Core Long/Short Model portfolio is up +2.91%, and the theoretical Opportunistic Long/Short Model portfolio is up +3.88%.
Updated stock price targets and returns are provided below.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: As a simple quantitative model based on fundamental rankings, the portfolio models do not take into account rumors or pending M&A transactions. Theoretical return data reflect simple cumulative returns (not compound returns) and do not assume the impact of costs such as execution fees, margin fees, slippage, the availability of stocks for short selling, or any other kind of cost. 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. We do our best to provide accurate information in this report, but do not guarantee its accuracy.