Archive Category: Green Zone Fortunes (Alerts)

After opening the week strong, the market started to fall on Wednesday as Treasury yields hit fresh highs.

It’s been a rough year for the Nasdaq Composite Index. In the first 10 months, the index is down 33.9%, while the S&P 500 has shed 24.7%. New limits on how much U.S. semiconductor companies can sell their products to China created a significant headwind … pushing the Nasdaq to a two-year low yesterday. Two of our positions reached their stop price at the close yesterday, so we’ll follow our discipline and sell today.

Last week, the Dow closed Friday at its lowest point of the year … days after the Federal Reserve announced a 75 basis-point hike in interest rates. The S&P 500 followed suit yesterday by notching a new closing low for the year after falling 1% on the day. One of our positions reached its stop price at the close yesterday, so we’ll follow our discipline and sell today.

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In November 2021, we recommended buying into shipping and logistics company Matson Inc. (NYSE: MATX) to take advantage of disruptions in the global supply chain. The company connects China with Hawaii and the West Coast of the U.S. with expedited shipping and cargo loading. But now we’re in a bear market, and investors are nervous waiting for word from the Federal Reserve on its next interest rate hike. As a result, rates are surging, and the S&P 500 dropped more than 1% in Tuesday trading. We recommended a stop-loss on MATX of $68, which the stock closed below yesterday.