📈 Alpha Picks & Market Update

25th of March, 2024

Welcome Investors!

Here’s your Alpha portfolio update for the week:

  • Returns so far this year +6.08%

  • Our leading stock continues to be AMD, currently at +22.03% while our position in Globe Life Inc is lagging at -7.6%

  • Total positions: 18
    See the investment portfolio for the rest of our positions.

The Week at a Glance

Market Snapshot

  • Stock markets rose last week with a combination of sturdy economic data and no major hawkish surprises by the Federal Reserve.

    • The S&P 500 rose +2.3%, led by banks and telecom services, while another hot IPO (Reddit) shot out of the gates.

    • Nasdaq closed the week at +2.17%.

  • Global central banks were out in full force last week.

    • Japan ended negative interest rate policy.

    • Switzerland and Mexico are cutting rates.

    • But all eyes were on the Federal Reserve, which left rates unchanged as widely expected.

  • Where is the strength? These industries stand out:

    • Semiconductors (same as last week)

    • Home Construction

    • Industrial Suppliers (same as last week)

S&P 500 vs Other Sectors

(relative to the S&P 500 index, year-ago = 100; dashed line = 200-day MA)

Alpha Picks of the Week

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Myers Industries (MYE)

Myers Industries, Inc. engages in the manufacture and trade of polymer products.

It operates through the Material Handling and Distribution business segments. The Material Handling segment designs, manufactures, and markets a variety of plastic and metal products.

The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under vehicle service on passenger, heavy truck, and off-road vehicles.

Hedge Fund trading activity on MYE

  • MYE is one of Insider Memo’s top 10 Alpha picks this week.

  • MYE is trading near the top of its 52-week range and above its 200-day simple moving average.

  • Dividend yield of 2.34% with payout ratio above 40%

  • Net income is currently at $12.54 mln, up 18% since last year.

  • Hedge Funds increased holdings in MYE significantly by 0.5 mln shares since last year.

IM Trading Desk

The following companies are on our watchlist for trade opportunities. We are looking for long entry on these with 15-20% stop-loss per trade.

  • NVEI

  • NN

  • GIL

  • AMTX

Thank you for being a part of The Insider Memo community.

Remember, investing is not just about wealth; it's about making informed decisions that shape your future.

Have a great week!

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