This is an update to our model portfolio report 31 Stocks for September 2017.
A position in Cathay General Bancorp (NASDAQ:CATY) reached its price target on Friday and will be assumed closed and replaced with cash at the end of trading on Monday, September 25, 2017. The stock is up 9.32% since September 8.
A position in Flowserve Corp. (NYSE:FLS) hit its stop loss level in the short sale model portfolio and will be assumed closed at the end of trading Monday. The stock is up 7.98% since September 8 for the assumed inverse short sale loss of -7.98%.
For the month to date, the theoretical Core Long Model portfolio is up +3.28% versus the S&P 500 up +1.24% and the SPDR S&P 500 ETF (NYSEARCA:SPY) up +1.29%. The theoretical Core Long/Short Model portfolio is up +0.57%.
The theoretical Opportunistic Model portfolio assumed a 100% cash position through September 15 and a 30% cash position since then. The Opportunistic Long Model portfolio is up +1.32% MTD and the Opportunistic Long/Short Model portfolio is down -1.38%.
Updated price targets and return data 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.