|Day Low/High||61.73 / 63.09|
|52 Wk Low/High||59.82 / 79.69|
The last week of the quarter was a mixed one for the major market indices and the portfolio.
Kenworth continued its tradition of driver-focused product development with the introduction of its new long-hood conventional - the Kenworth W990 - Thursday evening during a major unveiling event at the Las Vegas Motor Speedway.
We continue to hold our inverse ETFs as we monitor our economically sensitive positions.
Notable portfolio outperformers this week included JPMorgan Chase, Paccar and Rockwell Automation.
We continued to deploy capital and reposition the Trifecta portfolio this week, adding to a position, initiating another, and exiting a third one.
We see favorable signs in the latest ISM Manufacturing Index, plus Navistar's outlook for the heavy-truck market is a positive.
We initiated 2 new positions during a news-laden week for the markets.
Trucking name Paccar is developing a classic pennant formation on the charts.
Let me point out a few that have changed marginally in the last week.
The number of stocks making new highs just doesn’t expand.
Apple was the best performer in the portfolio this week, with McCormick & Co. a distant second.
Several of our positions, including Amazon, reported earnings this week as the markets showed mixed results.
Paccar reported second-quarter strong results and boosted its dividend.
"PACCAR (Nasdaq: PCAR) achieved record quarterly revenues and excellent net income in the second quarter of 2018," said Ron Armstrong, chief executive officer.
We trimmed 2 positions and added to another as June-quarter earnings season heated up.
Here’s a quick roundup of key items from last week and today as well as what we’ll be watching this week.
PACCAR (Nasdaq: PCAR) annually recognizes suppliers who meet or exceed PACCAR's "10 PPM" quality standard; this is the equivalent of 10 defective parts for every million components shipped to PACCAR.
The PACCAR (Nasdaq: PCAR) Board of Directors approved the repurchase of an additional $300 million of its outstanding common stock.
Similar to the broader market, despite a positive finish the majority of the portfolio's positions declined this week amid continued trade and tariff concerns.
During the week, we exited MGM Resorts and initiated a position in JPMorgan Chase as trade and tariff talk permeated the markets.
Tariff threats are beginning to affect manufacturing, not just finished products.
As the market ended the week on a down note following Friday's tariff developments, the Trifecta portfolio put in some positive moves.
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