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📈 Alpha Picks & Market Update
Welcome Investors!
Here’s your last Alpha portfolio update for the year 2023:
Returns so far this year +59.4%
Our leading stock is still Forestar Group Inc currently at +76% while our position in SilverBow is the laggard at -14%
See the investment portfolio for the rest of our positions.
Market Snapshot
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/91e43ae5-cb5f-4ca3-8970-04be9c742dff/Screenshot_2023-12-26_at_16.16.54.png?t=1703607426)
US stocks rose after US Q3 GDP growth was revised downward to a 4.9% annualised rate, keeping in line with the narrative that a cooling economy will lead to rate cuts.
Nasdaq closed at +0.81% while the S&P 500 closed the week at +0.5%
Nike shares fell 6% after missing Q2 revenue expectations but beating on profit; Nike warned about a softer revenue outlook for the second half of the year and unveiled a plan to cut costs by ~$2B
Bitcoin options show that traders are hedging bets ahead of a January 10th, 2024, deadline for the SEC to decide whether to allow Bitcoin ETFs.
Subscribers: Our Crypto Portfolio will be updated next week for the New Year. Keep an eye out for the update.
Alpha Picks of the Week
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/6525c422-b830-423d-9ee7-462e453401d3/SPX_2023-12-26_17-10-44_3bf12.png?t=1703610660)
Buy
| Sell
|
These are the companies that Alpha Algorithm® has short-listed for this week from a list 18,742 stock.
Featured Analysis
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/f8460110-c469-4592-ba5a-d4b50864a963/Screenshot_2023-12-26_at_17.06.20.png?t=1703610414)
Hedge Fund trading activity
Motorcar Parts (MPAA)
MPAA engages in the manufacture, remanufacture, and distribution of automotive parts.
Total Revenue increased 5.04% since last year and increased 23.13% since last quarter.
MPAA is trading in the middle of its 52-week range and above its 200-day simple moving average.
It’s currently trading at its 12, 15 and 20-year lows. It may serve as a pivot point for this stock.
The price of MPAA shares has increased by $0.20 since the market last closed. This is a 2.30% rise.
Hedge Funds decreased holdings by 40K shares since last quarter. However, it is not significant given that they remain invested at 3mil shares.
Crypto Trade Ideas
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/ee8f9aba-2961-4956-b054-6911f85ad2de/DOTUSDT_2023-12-26_17-21-34_5cf1a.png?t=1703611308)
Polkadot (DOT) looks promising with the same breakout pattern in play as Solana (SOL). I would consider pull-backs as a buying opportunity with the first target at $14 and a 25% stop-loss.
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 day!
Ali @ Insider Memo
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