Sell ALTR and SNOW
The market got off to a decent start to the week, but things have deteriorated for many names over the last two days. There are a few stocks that I had anticipated selling relatively soon, hopefully into some strength.
While things can turn up quickly, especially during earnings season, the market’s downturn over the last two days suggests we should drop a couple of names today.
First up is Altair Engineering (ALTR) which just dipped to a new low. We still have a 30% gain on our remaining stake. Let’s take it. SELL REMAINING
Snowflake (SNOW) also continues to look weak. I mentioned it was on the chopping block a few days ago. Today we’ll act. SELL
Looking into next week, we may easily see a little relief rally (it’s happened several times this year after a slide). While I’m not predicting that, I do see many names that seem to be holding up “OK” into this selloff. Not reading too much into it at this point, but also not anxious to do more selling than the two positions we’re already letting go.