Author: Ronald Guerrini
Covestor model: Breakouts and Reversals
February was a very poor month for the Breakouts and Reversals model portfolio.
This month was a lesson in not letting an opinion about market direction overrule the trend. The model portfolio lost about 4.3% in value as the major stock benchmarks added about 4%, leading to an approximately 8% under performance for the month.
This was due to a short bias that was maintained too long despite evidence to suggest the market was not falling. This position should have been cut sooner.
Covestor Ltd. is a registered investment advisor. Covestor licenses investment strategies from its Model Managers to establish investment models. The commentary here is provided as general and impersonal information and should not be construed as recommendations or advice. Information from Model Managers and third-party sources deemed to be reliable but not guaranteed. Past performance is no guarantee of future results. Transaction histories for Covestor models available upon request. Additional important disclosures available at http://site.covestor.com/help/disclosures. For information about Covestor and its services, go to http://covestor.com or contact Covestor Client Services at (866) 825-3005, x703.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.