EB Daily Market Report and Model Portfolio Change

Dear Members,

Just as a reminder, I've published today's Daily Market Report in my Trading Places blog at StockCharts.com.  Here's the link.

https://stockcharts.com/articles/tradingplaces/2019/12/oled-snap-amzn-theyre-moving-t-552.html

Also, in my Weekly Portfolio Report on Sunday, I discussed Carmax, Inc. (KMX), which is in our Model portfolio.  KMX fell short of consensus EPS estimates and there was a negative market reaction last Friday.  It's broken its relative strength line and I'm not interested in holding the stock through February 19th.  So for the first time in our portfolio history, a closing stop of 90.00 was set.  KMX closed on Monday at 89.18, so it's been removed from the portfolio at that price.  Currently, that portion of the Model portfolio will remain in cash until either February 19th or until a replacement stock is named.  KMX currently trades at 88.15.  Perhaps it'll rebound and test its declining 20 day EMA.  We were hoping it would do that before the close below 90.  If it had, we were going to try to exit there.  Unfortunately, sellers remain in control and we have no interest in holding it any longer.  I want to make sure that all of you are aware of this change in our portfolio strategy.

I hope everyone is enjoying the holiday season.  We'll return to our normal schedule after the new year.

Happy trading!

Tom