Portfolio Trade Alert – November 16, 2023

By Lance Roberts | November 16, 2023

Trade Alert – Equity Model

Yesterday, Cisco Systems (CSCO) announced disappointing results sending the stock down sharply today. The selling is a bit much giving the actual earnings report and the valuation of the company. As such, we are going to hold the stock temporarily to see if we get some recovery in the position over the next few days before we remove it from the portfolio.

Walmart (WMT) was also down today, allowing us to add a starting position to the portfolio. In a weaker economic environment, Walmart will likely continue to benefit from shoppers stepping down from higher-end grocers and retailers.

Walmart beat earnings and sales estimates but was cautious on holiday spending. They did raise their EPS forecast, but it is slightly below Wall Street estimates. Today’s decline brings the stock back to the lower end of its upward channel. Again, this will replace some of the laggards we sold last week.  

Equity Model

  • Cisco Systems (CSCO) will be sold on a bounce from oversold levels.
  • Initiating a 1.5% position in Walmart (WMT)

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Lance Roberts is a Chief Portfolio Strategist/Economist for RIA Advisors. He is also the host of “The Lance Roberts Podcast” and Chief Editor of the “Real Investment Advice” website and author of “Real Investment Daily” blog and “Real Investment Report“. Follow Lance on Facebook, Twitter, Linked-In and YouTube
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