Placing Six Flags Entertainment (FUN) on a Sell
Today, we are putting shares of Six Flags Entertainment (FUN) on a SELL.
The stock has produced a marginal gain of 4% since being recommended by my predecessor in December 2022. There was obviously a better profit-taking opportunity before then, but the stock has since lost momentum and has lately shown an alarming level of internal weakness.
Accordingly, I’m moving FUN to a SELL.
Placing YETI Holdings (YETI) on a Sell
Today, we are putting shares of YETI Holdings (YETI) on a SELL.
The stock has weakened since we bought it last month and, as mentioned in last week’s update, I’m not prepared to endure more than a 14% loss on the stock. I mentioned specifically that if YETI falls under the 36 level on even an intraday basis, we’ll cut the stock from the Cabot Turnaround Letter portfolio.
The stock in fact declined below this level on Tuesday morning, and what I consider to be a key chart support for YETI (since it refused to break under 36 in the last three times it pulled back to this level). What’s more, a break at 36 suggests a loss of institutional support. As such, I’m moving it to a SELL.
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