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Sabrient Select Opportunity Virtual Portfolio

By Sabrient
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Sabrient’s Scott Martindale is shorting CCI.  PSW has been been posting email notifications when Scott adds, decreases or closes a position.  For a free trial – to get SSOP’s actions directly – click here and sign up. The Dark Horse Hedge Virtual Portfolio is free and can be followed here and in the Sabrient section at PSW. – Ilene 

Sabrient Select Opportunity Virtual Portfolio

Sell Short CCI

 

The market is hugging the flat line today, awaiting a week chock full of economic reports, earnings announcements, and options expiration activity. The small caps are underperforming pretty strongly today.

 

With the risk more pronounced to the downside after last week’s short-covering rally, and the markets staring at resistance from the descending triangle (shown in my Week Ahead message earlier today), I’m looking to add another short position.

 

Crown Castle International owns, operates, and leases towers for wireless communications.  It carries a STRONG SELL rating in the Sabrient Ratings Algorithm, a dismal Company Outlook Score of 1 and Value score of less than 1.

 

I am adding it as a Short position to the Select Opportunity Virtual Portfolio at a price of $37.46.

 

I’ll keep a mental stop of a closing price above Friday’s high around $38.90.

 

Also, regarding short position HST, I’m continuing to watch it closely but taking no action on it today.

  

Best Regards,

  

Scott Martindale

 

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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