Updated quantitative ratings on 84 stocks
Intraday trading last week was not for the faint of heart. Stocks were heckled on a daily basis as sharp market gains led to equally large market declines – and vice versa.
Despite the constant back and forth, the major indexes still managed to post gains for the week, with the S&P 500 and the Dow Jones up 1.4% and 1.2%, respectively.
There were several reasons for the market volatility of the past week: namely, the ongoing banking crisis and the action of global central banks. The latter, in particular, drove much of the market’s moves over the weekend as investors tried to decipher the hawkish and dovish language used by Federal Reserve officials at the Federal Open Market Committee meeting ( FOMC) last week. (If you missed my review of the FOMC meeting and comments from Fed Chairman Jerome Powell at his post-meeting keynote, you can catch up here.)
This Monday started on a much stronger footing. As I explained in a Growth investor Special Market Podcast Yesterday, stocks rallied after news of First Citizens Bank’s acquisition of Silicon Valley Bank. Hopefully the acquisition closed the book on the Silicon Valley Bank fiasco.
However, I still wouldn’t be too comfortable. The reality is that Treasury yields continue to climb, which tells me that there is still some uncertainty floating around Wall Street about the banking sector. Additionally, Fed officials will be vocal throughout the week, and if their comments are anything but dovish, more volatility could be in store.
Ranking Changes This Week
It is important to prepare your portfolio for any potential volatility by selling bad stocks and buying better ones. After closely reviewing the latest data on institutional buying pressure and the fundamental health of each company in Portfolio Grader, I decided to revise my Portfolio Grader recommendations to 84 big blue bullets.
Of these 84 titles, 18 have been downgraded from a “Hold” (C-rating) to a “Sell” (D-rating). I’ve listed the top 10 below that were downgraded from a hold to a sell, but for the full list of 84 stocks – including their fundamental and quantitative ratings – click here.
Chances are you have at least one of these stocks in your portfolio, so you might want to browse this list and act accordingly.
|BKR||Baker Hughes Company Class A||D|
|BRK.A||Berkshire Hathaway Inc. Class A||D|
|CBRE||CBRE Group, Inc. Class A||D|
|CINF||Cincinnati Financial Corporation||D|
|CNI||Canadian National Railway Company||D|
|Dell||Dell Technologies, Inc. C-Class||D|
|DTE||DTE Energy Company||D|
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PS On August 19, 2022, the Fed released a 43-page report explaining how bad the economy is really doing. This report was not mentioned at the press conference, but it suggests policymakers cannot do the job on their own and could actually make matters worse.
The reality is that the Fed has burst another bubble. But this time, not just in tech or real estate, but in the broader stock market as a whole. Therefore I urge you to get the details of this report and act before it is too late.
Click here for the shocking details.
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CSX Company (CSX)