Boeing (BA): Added to Position

After recovering mightily toward the end of 2023, Boeing (BA) has once again proven itself to be the gang who can’t shoot straight. Following the door plug blowout in January, investigations into the company found a series of ill-advised, poorly-assembled, and incompetently-managed projects and planes. Not good for any company, but particularly not good if you’re building flying coffins… *cough*… airplanes.

As I forecasted in my recent video on Boeing, the 20% selloff pundits were predicting wasn’t nearly a deep enough cut. As of Monday, Boeing had sold off nearly –34% from its high just in December 2023.

Boeing finally broke through support on Monday, triggering my next buy order which filled at $177.82 and added 4.87% to my position. This buy locked in a -25.19% discount replacing shares I sold for $237.68 back on December 8, 2023. The buy raised my per-share “cost” +8.99% from -$200.25 to -$182.25 (a negative per-share cost indicates all capital has been removed in addition to $182.25 per share added to the portfolio’s bottom line in addition to each share’s current value).

It might confuse some why I keep adding to this position. While I do believe in Boeing for the long-term (it’s one of only two plane manufacturers on the planet), it’s also been one of the most profitable long-term positions in the portfolio, having opened it on February 12, 2012. The position has added more than 7X the original investment to the portfolio’s bottom line, not including the value of the shares currently held.

 From here, my next buy target is much lower at $142.30, above a past point of support Boeing saw not too long ago in October 2022, and my next sell target is $266.83, just under Boeing’s high in December 2023.

BA closed the week at $188.91, up +6.24% from where I added Monday.

Dutch Bros (BROS): Profit-Taking

Dutch Bros (BROS) caught a bid on Thursday and triggered my next sell order which filled at $35.05, selling 5.00% of my position and  locking in +54.41% in gains on shares I bought last year for $22.70 on September 28, 2023. The sale only lowered my per-share cost -0.30% from $33.15 to $33.05, but, more importantly, locked in those gains and reduced exposure on this notoriously volatile stock.

From here, my next sell target is $38.45, slightly below a past point of resistance, and my next buy target is $25.70, slightly above the low BROS saw just a few weeks ago.

BROS closed the week at $33.59, down -4.17% from where I took profits Thursday.

JPMorgan (JPM): Profit-Taking

When JPMorgan (JPM) kept making all-time highs, I started to keep a careful eye on it. Last week, JPM encountered resistance just under $192.00, so I decided to take profits if it made a stab at that level again, which it did on Monday. My sale order filled at $191.51, selling 15.41% of my position.

The sale locked in +87.20% in gains on shares I bought for $102.30 when I initially opened the position on October 26, 2017. The sale lowered my per-share “cost” -$42.08 from -$39.42 to -$81.50 (a negative per-share cost indicates all capital has been removed in addition to $81.50 per share added to the portfolio’s bottom line in addition to each share’s current value).

From here, my next buy target is $165.89, above a point of support JPMorgan saw earlier in 2024, and I’m going to hold the remainder of my position until we see where JPM heads from here.

JPM closed the week at $196.70, up +2.64% from where I took profits Monday.

Morgan Stanley (MS): Profit-Taking

The financials rallied like crazy after Wednesday’s Fed meeting with Morgan Stanley (MS) triggering my next sell order on Thursday, selling 30.11% of the position at $93.58. The sale locked in +12.07% in gains on shares I bought for $83.50 when I originally opened the position on April 25, 2022.

The sale lowered my per-share cost -28.03% from $56.69 to $40.80. From here, my next buy target is $74.68, slightly above a key point of resistance Morgan Stanley has seen several times in the past, and my next sell target is $109.25, just under Morgan Stanley’s all-time high where I will remove all remaining capital and some profits from the position.

MS closed the week at $91.92, down -1.77% from where I took profits Thursday.