The performance of our top names remains strong. So far, we have 6-month returns for 59 weekly top names cohorts since we started this Substack at the end of December, 2022, and as you can see here, our top names have averaged returns of 22.08% over the last six months, versus SPY’s average of 12.92%.

By exiting our losers early and letting our winners run, our core strategy can generate even better performance than that.

Options

I wrote an explanation of my 3rd bullish trade on Super Micro Computer (SMCI) on ZeroHedge earlier this week, but that doesn’t explain my previous two bullish trades on it.

And I actually have a fourth bullish trade on it set to expire next week. I think part of my problem here was I made so much money on the stock after buying as a top name last year, that that colored my view of it. In truth, it hasn’t been a Portfolio Armor top name for months, and judging from its recent margin compression, it doesn’t seem to have the same moat that other AI-related stocks like Nvidia (NVDA) 0.00%↑ do. I shouldn’t have quadrupled down on it like this.

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