On November 1st, twenty-five shares of Gilead Sciences Inc. (GILD) were purchased for $79.29 per share totaling $1,982.25 in stock, and $60.15 in cash was left over (from the sale of the previous month’s stock) equaling a grand total of $2,042.60 to start the month. Yesterday November 30th, the 25 shares were sold for $88.02 yielding $2,200.45 in proceeds. Combined with the leftover cash of $60.15, cash totals $2,260.60 heading into December. In August, I started with $2,005 so this trading strategy has returned 12.7 percent in just four months.
For comparison, the S&P 500 exchange-traded index fund, SPY, returned negative 0.2 percent from August through November so our trading strategy continues to outperform the broad market.
While the market was down significantly in August and September, it bottomed in mid-October and has been rallying higher ever since. Many Wall Street commentators believe the Federal Reserve may be close to pausing their interest rate hikes. Some think the Fed will raise interest rates one more time in December.
The New Top Stock
Aerospace firm Boeing Company (BA) is the new top stock. It closed yesterday at $178.99 so about 12 shares will be purchased tomorrow. Check back on December 31st or January 1st for an update. Merry Christmas and a Happy New Year!
