The market suffered through a volatile week, finally finding its footing on Friday as Apple drove the S&P higher. Apple reached a new all-time high in intraday trading, and we sold out there. From the purchase point a week earlier at $162 to the sale yesterday at $183, we recorded a strong 11.5% gain. The stock has room to run higher. However, with the additional uncertainty higher now that it has passed its 52-week high, we would rather hold capital for more profitable swing plays next week.
Below is an update of the individual stock returns. A slow start to the month leaves us in positive territory with a 70bps spread above our S&P benchmark.