Trimming One Holding, Adding to Another as We Boost Our Rating
| Symbol | Transaction Type (Sell/Buy) | # Shares Traded |
|---|---|---|
| AAPL | Sell | 75 |
| TJX | Buy | 152 |
After you receive this Alert, the Pro Portfolio will make the following trades:
— Sell 75 shares of Apple ($AAPL) at or near $331. Following the trade, we will still own 750 AAPL shares, accounting for roughly 4.0% of the Pro Portfolio.
— Buy 152 shares of TJX ($TJX) at or near $155. Following the trade, we will own 1,322 TJX shares, accounting for roughly 3.3% of the Pro Portfolio.
The continued climb in Apple shares is pushing them near a 4.5% position size, but it has also landed them in a new overbought condition as their RSI level moves past 70. While some may see the stock’s pronounced rise since late June, we also see a larger move since late March, one that approaches 35%. That combination is prompting our trade today, but even after this very profitable trim, we will maintain ample exposure to Apple to capitalize on the looming iPhone replacement cycle.
We will funnel those proceeds into TJX shares, using the recent drop and renewed U.S.-Iran tensions that are re-kindling inflation pressures as reasons behind the trade. As we make this TJX buy, we will reset our checkpoint level to $135 from $140 and upgrade the shares to a One rating.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade’s executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long AAPL and TJX.
| Symbol | Panic Price |
|---|---|
| TJX | 135 |
