Stock Pick Report Card from Late March and New Picks For Premium Subscribers
3 Double-Digit Premium Picks from Late March 2024
StockCheatSheets.com is an intermediate-trend following system, where we stay in trades for weeks to months. Now that we’ve had a bit of market volatility, let’s put our picking prowess to the test and take a look at the performance of our published choices from near the top of the market. By late January 2024, the market had roared to near its peak, running a little more in early February before the rally started to fade throughout late February, March and April,
Here’s what we picked and published as Spotlight Stock Picks for Premium Subscribers on Saturday March 30th, 2024.
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HIPO Holdings - Insurance
We actually got the breakout we were anticipating. The stock peaked at $25, more than 30% higher, before settling back to retest its breakout area around $18.25. It fell hard this past Thursday May 2nd after missing earnings estimates by a penny. Hopefully, as a trend-follower, you trailed your stop loss or like me, avoided holding a single-company stock through earnings announcements as an investing rule. We got out Wednesday into the close at around $21.50.
GNK Genco Shipping & Trading Limited
(Typo’d as GNL When Originally Published..Sorry) It is a global provider of maritime transportation services for dry bulk cargoes, including iron ore, coal, grain, steel products, and other commodities. The company's fleet consists of major dry bulk vessels. We were anticipating that the stock would maintain in trendline and move higher.
We got the bounce we were looking for a couple of weeks later, and the stock has since run up nicely. A 14% move! Earning are ahead, so I’ll be exiting my position by Wednesday, May 8th.
Golden Ocean Group Limited (GOGL)
Golden Ocean Group Limited is another dry bulk shipper. Commodities were rotating into favor in late March, and this company profits from the transport of a wide range of bulk materials, including iron ore, coal, grain, and other materials globally. We expected the stock to withstand its late March pullback and keep running.
After a couple of weeks of further consolidation, it has resumed its trend, making a 14% move over the past 5 weeks.
Premium Stock Picks
For this weekend’s premium picks, we’re emphasizing Chaikin Money Flow and Relative Strength. Since market conditions are bearish, we want to focus on the equities institutions are accumulating with conviction and where prices have gone down less than the overall market (or not at all). Plus, we focus on bullish fundamentals, particularly where the price-to-sales ratio and the amount of overall debt are reasonable. We love companies with lots of free-cashflow who don’t require expensive loans to grow (though not all of our picks meet that bar).
Here are our six favorite:
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