📈 Alpha Picks & Market Update

29th of Jan, 2024

Here’s your Alpha portfolio update for the week:

Returns so far this year +1.37%
Our leading stock is AMD currently at +20.2% while our position in Century Communities Inc is lagging behind at -5.13%
Total positions: 18
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FYI: We will add new positions for February 2024 next Monday’s monthly update — premium members only

US stocks, a mixed bunch, despite powering higher mid-week, markets pulled back by close of the week.
- The Nasdaq added 0.1% on the week and now almost 22% in the last three months alone.
- The S&P 500 index rose 0.77% on the week, led by a strong rally in technology, while energy, materials and utilities lagged.
By contrast the rout in Chinese stock markets continued apace, with the CSI 300 dropping to a 5-year low and Hong Kong’s Hang Seng trading near its lowest close since 2009.
- The government may intervene with a state-backed stabilisation fund to buy up shares. Capital injection has always been bullish for Bitcoin. So, HODL!

Hedge Fund trading activity

Steel Dynamics Inc engages in the manufacture of steel products and metal recycling.

STLD is one of Insider Memo’s top 10 Alpha picks this week.
STLD is trading in the middle of its 52-week range and above its 200-day simple moving average.
Total Revenue increased 6.18% since last quarter.
Hedge Funds Increased STLD holdings significantly by almost 200K shares in the last two quarter.

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