December continued to be a fantastic month for both the Indian and US stock markets. The US market seemed to be discounting a lot of rate cuts from the Federal Reserve while the India market rallied on the strong fundamentals of the economy and businesses. Both markets produced very healthy returns for investors with above 20% returns for the respective indices (India: NSE500 & US: S&P500) in both markets.
In India, the markets continued to rally into December finishing the calendar year strong. The India Momo algorithm continued its positive performance into the month of December and did better than the overall market. NIFTY500 (Benchmark Index) returned +8.01% for the month of December 2023 while the India Momentum algorithm returned +11.79%.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| BSE.NS | ₹2,476.95 | 1 | ₹2,221.20 | -₹255.75 | -10.33% |
| ITI.NS | ₹268.30 | 17 | ₹304.55 | ₹36.25 | 13.51% |
| SUZLON.NS | ₹40.75 | 81 | ₹38.20 | -₹2.55 | -6.26% |
| KALYANKJIL.NS | ₹325.10 | 12 | ₹354.10 | ₹29.00 | 8.92% |
| IRFC.NS | ₹74.65 | 92 | ₹99.35 | ₹24.70 | 33.09% |
| RECLTD.NS | ₹348.70 | 15 | ₹412.85 | ₹64.15 | 18.40% |
| IRCON.NS | ₹165.60 | 27 | ₹171.40 | ₹5.80 | 3.50% |
| SJVN.NS | ₹84.95 | 53 | ₹90.95 | ₹6.00 | 7.06% |
| COCHINSHIP.NS | ₹1,204.60 | 4 | ₹1,353.95 | ₹149.35 | 12.40% |
| JYOTHYLAB.NS | ₹434.45 | 8 | ₹478.90 | ₹44.45 | 10.23% |
| MAPMYINDIA.NS | ₹2,224.80 | 2 | ₹1,945.20 | -₹279.60 | -12.57% |
| IDEA.NS | ₹13.05 | 286 | ₹16.00 | ₹2.95 | 22.61% |
| WELCORP.NS | ₹530.35 | 8 | ₹548.15 | ₹17.80 | 3.36% |
| APARINDS.NS | ₹5,581.40 | 1 | ₹6,053.40 | ₹472.00 | 8.46% |
| FACT.NS | ₹709.05 | 9 | ₹805.80 | ₹96.75 | 13.65% |
| MMTC.NS | ₹50.30 | 173 | ₹59.80 | ₹9.50 | 18.89% |
| PFC.NS | ₹334.90 | 13 | ₹382.60 | ₹47.70 | 14.24% |
| BSOFT.NS | ₹630.35 | 10 | ₹721.05 | ₹90.70 | 14.39% |
| ANGELONE.NS | ₹3,067.25 | 1 | ₹3,487.80 | ₹420.55 | 13.71% |
| IOB.NS | ₹39.35 | 192 | ₹43.30 | ₹3.95 | 10.04% |
| Total | ₹97,974.95 | ₹109,258.35 | ₹11,283.40 | 11.52% |
Following are the cumulative statistics.
Markets in India have been up 25.47% for the year while the India Momo Algorithm is up 67.82%.
| Date | India MOMO | MOMO P&L % (Total) | NIFTY 500 | NIFTY 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 2023-01-31 | ₹98,800.26 | -1.20% | 14,935.50 | -3.55% |
| 2023-02-28 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 2023-03-31 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
| 2023-04-27 | ₹96,667.06 | -3.33% | 15,075.05 | -2.65% |
| 2023-05-30 | ₹102,003.61 | 2.00% | 15,766.40 | 1.82% |
| 2023-06-29 | ₹111,869.06 | 11.87% | 16,430.00 | 6.10% |
| 2023-07-28 | ₹118,243.91 | 18.24% | 16,948.35 | 9.45% |
| 2023-08-31 | ₹122,652.21 | 22.65% | 16,924.30 | 9.29% |
| 2023-09-29 | ₹131,306.76 | 31.31% | 17,292.60 | 11.67% |
| 2023-10-31 | ₹131,993.96 | 31.99% | 16,801.10 | 8.50% |
| 2023-11-30 | ₹150,525.51 | 50.53% | 17,987.95 | 16.16% |
| 2023-12-29 | ₹167,815.11 | 67.82% | 19,429.15 | 25.47% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Trade Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| BSE.NS | 01/01/2024 | 3 | ₹2,221.20 | BUY* | ₹6,663.60 |
| ITI.NS | 01/01/2024 | 14 | ₹304.55 | SELL* | ₹4,263.70 |
| IRFC.NS | 01/01/2024 | 34 | ₹99.35 | SELL* | ₹3,377.90 |
| SUZLON.NS | 01/01/2024 | 155 | ₹38.20 | BUY* | ₹5,921.00 |
| RECLTD.NS | 01/01/2024 | 9 | ₹412.85 | SELL* | ₹3,715.65 |
| MCX.NS | 01/01/2024 | 2 | ₹3,199.85 | BUY | ₹6,399.70 |
| KALYANKJIL.NS | 01/01/2024 | 20 | ₹354.10 | SELL* | ₹7,082.00 |
| ANGELONE.NS | 01/01/2024 | 1 | ₹3,487.80 | SELL* | ₹3,487.80 |
| IRCON.NS | 01/01/2024 | 23 | ₹171.40 | SELL* | ₹3,942.20 |
| PFC.NS | 01/01/2024 | 10 | ₹382.60 | SELL* | ₹3,826.00 |
| SWANENERGY.NS | 01/01/2024 | 9 | ₹511.00 | BUY | ₹4,599.00 |
| NBCC.NS | 01/01/2024 | 53 | ₹81.55 | BUY | ₹4,322.15 |
| PRESTIGE.NS | 01/01/2024 | 3 | ₹1,178.90 | BUY | ₹3,536.70 |
| COCHINSHIP.NS | 01/01/2024 | 3 | ₹1,353.95 | SELL* | ₹4,061.85 |
| WELCORP.NS | 01/01/2024 | 11 | ₹548.15 | SELL* | ₹6,029.65 |
| IDEA.NS | 01/01/2024 | 156 | ₹16.00 | SELL* | ₹2,496.00 |
| ADANIPOWER.NS | 01/01/2024 | 6 | ₹525.15 | BUY | ₹3,150.90 |
| SOLARINDS.NS | 01/01/2024 | 1 | ₹6,727.50 | BUY | ₹6,727.50 |
| TATAINVEST.NS | 01/01/2024 | 2 | ₹4,282.05 | BUY | ₹8,564.10 |
| NMDC.NS | 01/01/2024 | 27 | ₹209.65 | BUY | ₹5,660.55 |
| Total | ₹97,827.95 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for India is 01/01/2024 with the close prices as of 12/29/2023.
The US market continued to build on the rally from November 2023 driven by the Federal Reserve bank’s confirmation of 3 rate cuts by the end of 2024. The markets mostly rallied to the end of the year but stalled the last week of December. We also saw a swift 1%+ decline on one day without any news.
For the month of December 2023, S&P 500 returned +4.42%. The US Momo algorithm again underperformed the market with improving breadth (more stocks participating in the rally). The Momentum algorithm returned 2.8%. As it can be observed from the trade statistics, there were only a few losers and a few big winners. However, the algorithm still underperformed the market. We will not go into reasons as to the why and justify them. This is a rules based strategy and the proof of outperformance in the markets is established.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| CEG | $120.58 | 8 | $116.89 | ($3.69) | -3.06% |
| LLY | $591.86 | 2 | $582.92 | ($8.94) | -1.51% |
| CBOE | $179.50 | 10 | $178.56 | ($0.94) | -0.52% |
| WRK | $40.10 | 31 | $41.52 | $1.42 | 3.54% |
| MPC | $147.42 | 9 | $148.36 | $0.94 | 0.64% |
| ANET | $219.30 | 7 | $235.51 | $16.21 | 7.39% |
| AIZ | $163.80 | 5 | $168.49 | $4.69 | 2.86% |
| NRG | $46.85 | 29 | $51.70 | $4.85 | 10.35% |
| PGR | $163.00 | 14 | $159.28 | ($3.72) | -2.28% |
| MOH | $350.82 | 5 | $361.31 | $10.49 | 2.99% |
| AKAM | $115.70 | 25 | $118.35 | $2.65 | 2.29% |
| AMGN | $266.60 | 7 | $288.02 | $21.42 | 8.03% |
| FICO | $1,075.10 | 2 | $1,164.01 | $88.91 | 8.27% |
| FANG | $153.79 | 13 | $155.08 | $1.29 | 0.84% |
| AFL | $81.63 | 26 | $82.50 | $0.87 | 1.07% |
| Total | $25,292.64 | $25,999.66 | $707.02 | 2.80% |
Following are the cumulative statistics.
The US Momo strategy is up 4.38% for the year, the S&P 500 is up 23.91% and the equal weight index is up 11.07%.
| Date | US MOMO | MOMO P&L % (Total) | S&P 500 | S&P 500 P&L % (Total) | S&P 500 (Equal Weighted Index) | S&P 500 P&L % (Total) (Equal Weighted Index) |
|---|---|---|---|---|---|---|
| 2022-12-29 | $25,000.00 | 0% | 3,849.28 | 0% | 5,764.56 | 0% |
| 2023-01-31 | $26,277.53 | 5.11% | 4,076.60 | 5.91% | 6,158.68 | 6.84% |
| 2023-02-28 | $25,611.62 | 2.45% | 3,970.15 | 3.14% | 5,944.16 | 3.12% |
| 2023-03-31 | $26,000.59 | 4.00% | 4,109.31 | 6.76% | 5,878.10 | 1.97% |
| 2023-04-27 | $25,412.85 | 1.65% | 4,135.35 | 7.43% | 5,829.27 | 1.12% |
| 2023-05-30 | $25,693.71 | 2.77% | 4,179.83 | 8.59% | 5,707.72 | -0.99% |
| 2023-06-29 | $26,990.65 | 7.96% | 4,396.44 | 14.21% | 6,025.36 | 4.52% |
| 2023-07-28 | $28,029.13 | 12.12% | 4,582.23 | 19.04% | 6,268.93 | 8.75% |
| 2023-08-30 | $27,542.76 | 10.17% | 4,514.87 | 17.29% | 6,096.08 | 5.75% |
| 2023-09-29 | $25,886.13 | 3.54% | 4,288.05 | 11.40% | 5,754.77 | -0.17% |
| 2023-10-30 | $24,541.10 | -1.84% | 4,166.82 | 8.25% | 5,467.52 | -5.15% |
| 2023-11-29 | $25,388.50 | 1.55% | 4,567.80 | 18.67% | 6,003.20 | 4.14% |
| 2023-12-29 | $26,095.52 | 4.38% | 4,769.83 | 23.91% | 6,402.89 | 11.07% |
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Trade Date | Number of Shares | Price per Share | BUY/SELL/HOLD | Total |
|---|---|---|---|---|---|
| WRK | 01/01/2024 | 25 | $41.52 | SELL* | $1,038.00 |
| ANET | 01/01/2024 | 5 | $235.51 | SELL* | $1,177.55 |
| NRG | 01/01/2024 | 32 | $51.70 | BUY* | $1,654.40 |
| FICO | 01/01/2024 | 1 | $1,164.01 | SELL* | $1,164.01 |
| PGR | 01/01/2024 | 7 | $159.28 | SELL* | $1,114.96 |
| ALL | 01/01/2024 | 10 | $139.98 | BUY | $1,399.80 |
| CBOE | 01/01/2024 | 7 | $178.56 | SELL* | $1,249.92 |
| AIZ | 01/01/2024 | 9 | $168.49 | BUY* | $1,516.41 |
| STX | 01/01/2024 | 12 | $85.37 | BUY | $1,024.44 |
| INTC | 01/01/2024 | 15 | $50.25 | BUY | $753.75 |
| AXON | 01/01/2024 | 6 | $258.33 | BUY | $1,549.98 |
| AKAM | 01/01/2024 | 22 | $118.35 | SELL* | $2,603.70 |
| CEG | 01/01/2024 | 7 | $116.89 | SELL* | $818.23 |
| SNPS | 01/01/2024 | 2 | $514.91 | BUY | $1,029.82 |
| MOH | 01/01/2024 | 3 | $361.31 | SELL* | $1,083.93 |
| LULU | 01/01/2024 | 2 | $511.29 | BUY | $1,022.58 |
| UBER | 01/01/2024 | 18 | $61.57 | BUY | $1,108.26 |
| LLY | 01/01/2024 | 2 | $582.92 | HOLD | $1,165.84 |
| IT | 01/01/2024 | 3 | $451.11 | BUY | $1,353.33 |
| WDC | 01/01/2024 | 17 | $52.37 | BUY | $890.29 |
| $24,719.20 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for the US is on 01/02/2024 with the close prices as of 12/29/2023.
November was a fantastic month for the stock markets that we track both in India and the US. While the interest rates are in the 4% to 5% range across the yield curve starting with the 2 year term, the market’s expectation of where rates will be is moving the bond prices on a daily basis. With earnings out of the way, the market in the US seems to have entered the Santa Claus rally phase. The US markets have rallied significantly since the Federal Reserve’s rate decision at the beginning of the month and are now close to 4600 on the S&P 500. Daily action has been very muted and the index seems stuck in the 4500 to 4600 range. With Inflation still in the 3% range, it remains to see how long it takes to get to the 2% target set by the Federal reserve and where rates go from here.
Indian markets also rallied in the month of November.
In India, the markets were up for the month of November 2023. The India Momo algorithm continued its positive performance into the month of November and has set a record breaking performance for the month. This is the first time since we went live that we have seen such performance from the algorithm’s recommendations. The returns from the algorithm generated recommendations were up an exciting +14.63%!! As you can see from the statistics below, we had a broad positive performance with only 4 stocks being down. There were 3 stocks which were up more than 30% for the month and contributed to the overall record-breaking performance. returns for NIFTY500 was -2.84%.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| SUZLON.NS | ₹30.60 | 135 | ₹40.75 | ₹10.15 | 33.17% |
| BSE.NS | ₹1,863.00 | 3 | ₹2,476.95 | ₹613.95 | 32.95% |
| KALYANKJIL.NS | ₹288.70 | 16 | ₹325.10 | ₹36.40 | 12.61% |
| MAZDOCK.NS | ₹1,966.80 | 2 | ₹2,012.80 | ₹46.00 | 2.34% |
| IRFC.NS | ₹72.60 | 72 | ₹74.65 | ₹2.05 | 2.82% |
| RECLTD.NS | ₹287.60 | 23 | ₹348.70 | ₹61.10 | 21.24% |
| MMTC.NS | ₹55.15 | 35 | ₹50.30 | -₹4.85 | -8.79% |
| SJVN.NS | ₹71.05 | 58 | ₹84.95 | ₹13.90 | 19.56% |
| COCHINSHIP.NS | ₹951.35 | 6 | ₹1,204.60 | ₹253.25 | 26.62% |
| APARINDS.NS | ₹5,179.45 | 1 | ₹5,581.40 | ₹401.95 | 7.76% |
| ITI.NS | ₹269.90 | 8 | ₹268.30 | -₹1.60 | -0.59% |
| KAYNES.NS | ₹2,383.40 | 2 | ₹2,466.60 | ₹83.20 | 3.49% |
| MAPMYINDIA.NS | ₹2,082.90 | 2 | ₹2,224.80 | ₹141.90 | 6.81% |
| JYOTHYLAB.NS | ₹362.60 | 20 | ₹434.45 | ₹71.85 | 19.82% |
| JINDALSAW.NS | ₹442.90 | 8 | ₹464.65 | ₹21.75 | 4.91% |
| IRCON.NS | ₹138.75 | 25 | ₹165.60 | ₹26.85 | 19.35% |
| PFC.NS | ₹246.60 | 28 | ₹334.90 | ₹88.30 | 35.81% |
| FACT.NS | ₹756.05 | 3 | ₹709.05 | -₹47.00 | -6.22% |
| SYRMA.NS | ₹618.35 | 8 | ₹565.60 | -₹52.75 | -8.53% |
| BSOFT.NS | ₹547.65 | 14 | ₹630.35 | ₹82.70 | 15.10% |
| Total | ₹94,196.10 | ₹107,980.25 | ₹13,784.15 | 14.63% |
Following are the cumulative statistics.
Markets in India have been up 16.16% for the year while the India Momo Algorithm is up 50.53%.
| Date | India MOMO | MOMO P&L % (Total) | NIFTY 500 | NIFTY 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 2023-01-31 | ₹98,800.26 | -1.20% | 14,935.50 | -3.55% |
| 2023-02-28 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 2023-03-31 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
| 2023-04-27 | ₹96,667.06 | -3.33% | 15,075.05 | -2.65% |
| 2023-05-30 | ₹102,003.61 | 2.00% | 15,766.40 | 1.82% |
| 2023-06-29 | ₹111,869.06 | 11.87% | 16,430.00 | 6.10% |
| 2023-07-28 | ₹118,243.91 | 18.24% | 16,948.35 | 9.45% |
| 2023-08-31 | ₹122,652.21 | 22.65% | 16,924.30 | 9.29% |
| 2023-09-29 | ₹131,306.76 | 31.31% | 17,292.60 | 11.67% |
| 2023-10-31 | ₹131,993.96 | 31.99% | 16,801.10 | 8.50% |
| 2023-11-30 | ₹150,525.51 | 50.53% | 17,987.95 | 16.16% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| BSE.NS | 12/1/2023 | 1 | ₹2,476.95 | SELL* | ₹2,476.95 |
| ITI.NS | 12/1/2023 | 17 | ₹268.30 | BUY* | ₹4,561.10 |
| SUZLON.NS | 12/1/2023 | 81 | ₹40.75 | SELL* | ₹3,300.75 |
| KALYANKJIL.NS | 12/1/2023 | 12 | ₹325.10 | SELL* | ₹3,901.20 |
| IRFC.NS | 12/1/2023 | 92 | ₹74.65 | BUY* | ₹6,867.80 |
| RECLTD.NS | 12/1/2023 | 15 | ₹348.70 | SELL* | ₹5,230.50 |
| IRCON.NS | 12/1/2023 | 27 | ₹165.60 | BUY* | ₹4,471.20 |
| SJVN.NS | 12/1/2023 | 53 | ₹84.95 | SELL* | ₹4,502.35 |
| COCHINSHIP.NS | 12/1/2023 | 4 | ₹1,204.60 | SELL* | ₹4,818.40 |
| JYOTHYLAB.NS | 12/1/2023 | 8 | ₹434.45 | SELL* | ₹3,475.60 |
| MAPMYINDIA.NS | 12/1/2023 | 2 | ₹2,224.80 | HOLD* | ₹4,449.60 |
| IDEA.NS | 12/1/2023 | 286 | ₹13.05 | BUY | ₹3,732.30 |
| WELCORP.NS | 12/1/2023 | 8 | ₹530.35 | BUY | ₹4,242.80 |
| APARINDS.NS | 12/1/2023 | 1 | ₹5,581.40 | HOLD* | ₹5,581.40 |
| FACT.NS | 12/1/2023 | 9 | ₹709.05 | BUY* | ₹6,381.45 |
| MMTC.NS | 12/1/2023 | 173 | ₹50.30 | BUY* | ₹8,701.90 |
| PFC.NS | 12/1/2023 | 13 | ₹334.90 | SELL* | ₹4,353.70 |
| BSOFT.NS | 12/1/2023 | 10 | ₹630.35 | SELL* | ₹6,303.50 |
| ANGELONE.NS | 12/1/2023 | 1 | ₹3,067.25 | BUY | ₹3,067.25 |
| IOB.NS | 12/1/2023 | 192 | ₹39.35 | BUY | ₹7,555.20 |
| Total | ₹97,974.95 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for India is 12/01/2023 with the close prices as of 11/30/2023.
The US market has rallied significantly, reversing most of the losses that we saw in the prior months and is now approaching the highs that we saw in July 2023.
For the month of November 2023, S&P 500 returned +8.9%. The US Momo algorithm generated returns which were again lower than the index and this month’s performance was +3.59%. As it can be observed from the trade statistics, more than half of the momentum stocks were up and a few were up more than 10%. Most notable were ANET (up 24.8%) and ADBE (up 17.17%).
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| MPC | $146.86 | 10 | $147.42 | $0.56 | 0.38% |
| CEG | $113.03 | 12 | $120.58 | $7.55 | 6.68% |
| HAL | $39.42 | 23 | $37.30 | ($2.12) | -5.38% |
| LLY | $565.71 | 2 | $591.86 | $26.15 | 4.62% |
| CHTR | $389.80 | 2 | $398.90 | $9.10 | 2.33% |
| ADBE | $526.94 | 2 | $617.39 | $90.45 | 17.17% |
| WRK | $35.43 | 34 | $40.10 | $4.67 | 13.18% |
| SLB | $56.40 | 19 | $51.87 | ($4.53) | -8.03% |
| ANET | $175.72 | 4 | $219.30 | $43.58 | 24.80% |
| FANG | $158.43 | 7 | $153.79 | ($4.64) | -2.93% |
| ODFL | $379.14 | 3 | $383.91 | $4.77 | 1.26% |
| AKAM | $102.57 | 20 | $115.70 | $13.13 | 12.80% |
| CF | $81.23 | 12 | $74.75 | ($6.48) | -7.98% |
| PSX | $112.44 | 12 | $122.22 | $9.78 | 8.70% |
| APA | $39.68 | 26 | $36.31 | ($3.37) | -8.49% |
| AMGN | $263.19 | 5 | $266.60 | $3.41 | 1.30% |
| TRGP | $83.60 | 18 | $88.01 | $4.41 | 5.28% |
| COP | $118.14 | 9 | $113.97 | ($4.17) | -3.53% |
| CDW | $197.05 | 9 | $212.09 | $15.04 | 7.63% |
| BKR | $34.96 | 39 | $33.34 | ($1.62) | -4.63% |
| Total | $24,350.07 | $25,223.43 | $873.36 | 3.59% |
Following are the cumulative statistics.
The US Momo strategy is up 1.55% for the year, the S&P 500 is up 18.67% and the equal weight index is up 4.14%.
| Date | US MOMO | MOMO P&L % (Total) | S&P 500 | S&P 500 P&L % (Total) | S&P 500 (Equal Weighted Index) | S&P 500 P&L % (Total) (Equal Weighted Index) |
|---|---|---|---|---|---|---|
| 2022-12-29 | $25,000.00 | 0% | 3,849.28 | 0% | 5,764.56 | 0% |
| 2023-01-31 | $26,277.53 | 5.11% | 4,076.60 | 5.91% | 6,158.68 | 6.84% |
| 2023-02-28 | $25,611.62 | 2.45% | 3,970.15 | 3.14% | 5,944.16 | 3.12% |
| 2023-03-31 | $26,000.59 | 4.00% | 4,109.31 | 6.76% | 5,878.10 | 1.97% |
| 2023-04-27 | $25,412.85 | 1.65% | 4,135.35 | 7.43% | 5,829.27 | 1.12% |
| 2023-05-30 | $25,693.71 | 2.77% | 4,179.83 | 8.59% | 5,707.72 | -0.99% |
| 2023-06-29 | $26,990.65 | 7.96% | 4,396.44 | 14.21% | 6,025.36 | 4.52% |
| 2023-07-28 | $28,029.13 | 12.12% | 4,582.23 | 19.04% | 6,268.93 | 8.75% |
| 2023-08-30 | $27,542.76 | 10.17% | 4,514.87 | 17.29% | 6,096.08 | 5.75% |
| 2023-09-29 | $25,886.13 | 3.54% | 4,288.05 | 11.40% | 5,754.77 | -0.17% |
| 2023-10-30 | $24,541.10 | -1.84% | 4,166.82 | 8.25% | 5,467.52 | -5.15% |
| 2023-11-29 | $25,388.50 | 1.55% | 4,567.80 | 18.67% | 6,003.20 | 4.14% |
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL/HOLD | Total |
|---|---|---|---|---|---|
| CEG | 11/30/2023 | 8 | $120.58 | SELL* | $964.64 |
| LLY | 11/30/2023 | 2 | $591.86 | HOLD* | $1,183.72 |
| CBOE | 11/30/2023 | 9 | $179.50 | BUY | $1,615.50 |
| WRK | 11/30/2023 | 30 | $40.10 | SELL* | $1,203.00 |
| MPC | 11/30/2023 | 9 | $147.42 | BUY* | $1,326.78 |
| ANET | 11/30/2023 | 7 | $219.30 | BUY* | $1,535.10 |
| AIZ | 11/30/2023 | 5 | $163.80 | BUY | $819.00 |
| NRG | 11/30/2023 | 29 | $46.85 | BUY | $1,358.65 |
| PGR | 11/30/2023 | 14 | $163.00 | BUY | $2,282.00 |
| MOH | 11/30/2023 | 5 | $350.82 | BUY | $1,754.10 |
| AKAM | 11/30/2023 | 24 | $115.70 | BUY* | $2,776.80 |
| AMGN | 11/30/2023 | 7 | $266.60 | BUY* | $1,866.20 |
| FICO | 11/30/2023 | 2 | $1,075.10 | BUY | $2,150.20 |
| FANG | 11/30/2023 | 13 | $153.79 | BUY* | $1,999.27 |
| AFL | 11/30/2023 | 26 | $81.63 | BUY | $2,122.38 |
| Total | $24,957.34 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for the US is on 11/30/2023 with the close prices as of 11/29/2023.
With a strong close to Q3 for the stock markets, we began October with sellers coming in and taking down most of the asset prices across multiple markets. There is also an elevated level of tension with the attack by Hamas and the conflict that has ensued since. The US markets have experienced a significant uptick in the longer-term Interest rates (10 year Treasury and beyond) which is causing losses in bond portfolios of folks who hold such instruments in their portfolio. As October came to a close, the Q3 earnings have also been a focus and while the earnings of the large cap stocks (AMZN, GOOG, MSFT etc) have been good, there seems to be an angst on the guidance as well as the overall economy. The performance of US markets especially S&P500, was down and the S&P is now below its simple 200 day Moving average. The 200 day moving average is used by many algorithms to determine the longer trend of the market. At QuantMomo, our tests have indicated that despite the market being below its 200 day moving average, the momentum stocks produced market beating returns. We will be adding a blog about the use of 200 day moving average on our website soon.
Indian markets were slightly down in October and were down a few days at the end of the month. As opposed to the US markets, the Indian markets are trading above their 200 day moving average which could be indicative of an uptrend.
In India, the markets were down for the month of October 2023. The India Momo algorithm continued its positive performance into the month of October but only slightly. While there were more losers than winners in the Momentum portfolio, the ones that were up contributed to the overall positive returns of the algorithm in October. As you can see from the statistics below, there were 3 stocks which were up above 27% and one (Suzlon.NS) which was above 18%.
The returns for India Momo were +0.68% whereas the returns for NIFTY 500 was -2.84%.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| MAZDOCK.NS | ₹2,192.20 | 2 | ₹1,966.80 | -₹225.40 | -10.28% |
| SUZLON.NS | ₹25.80 | 220 | ₹30.60 | ₹4.80 | 18.60% |
| BSE.NS | ₹1,297.95 | 4 | ₹1,863.00 | ₹565.05 | 43.53% |
| KALYANKJIL.NS | ₹227.55 | 21 | ₹288.70 | ₹61.15 | 26.87% |
| JINDALSAW.NS | ₹346.60 | 11 | ₹442.90 | ₹96.30 | 27.78% |
| RECLTD.NS | ₹287.40 | 14 | ₹287.60 | ₹0.20 | 0.07% |
| IRFC.NS | ₹76.55 | 32 | ₹72.60 | -₹3.95 | -5.16% |
| KAYNES.NS | ₹2,300.30 | 2 | ₹2,383.40 | ₹83.10 | 3.61% |
| SJVN.NS | ₹73.15 | 32 | ₹71.05 | -₹2.10 | -2.87% |
| JBMA.NS | ₹1,371.85 | 8 | ₹1,200.55 | -₹171.30 | -12.49% |
| COCHINSHIP.NS | ₹1,085.25 | 2 | ₹951.35 | -₹133.90 | -12.34% |
| APARINDS.NS | ₹5,477.55 | 1 | ₹5,179.45 | -₹298.10 | -5.44% |
| OLECTRA.NS | ₹1,200.85 | 7 | ₹1,139.25 | -₹61.60 | -5.13% |
| ENGINERSIN.NS | ₹147.45 | 36 | ₹123.70 | -₹23.75 | -16.11% |
| UJJIVANSFB.NS | ₹54.10 | 119 | ₹52.10 | -₹2.00 | -3.70% |
| PFC.NS | ₹251.90 | 15 | ₹246.60 | -₹5.30 | -2.10% |
| IRCON.NS | ₹144.85 | 18 | ₹138.75 | -₹6.10 | -4.21% |
| ZENSARTECH.NS | ₹517.40 | 11 | ₹490.05 | -₹27.35 | -5.29% |
| BEML.NS | ₹2,318.20 | 2 | ₹2,020.75 | -₹297.45 | -12.83% |
| JYOTHYLAB.NS | ₹360.50 | 16 | ₹362.60 | ₹2.10 | 0.58% |
| Total | ₹98,514.45 | ₹99,186.75 | ₹672.30 | 0.68% |
Following are the cumulative statistics.
Markets in India have been up 8.5% for the year while the India Momo Algorithm is up 31.99%.
| Date | India MOMO | MOMO P&L % (Total) | NIFTY 500 | NIFTY 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 2023-01-31 | ₹98,800.26 | -1.20% | 14,935.50 | -3.55% |
| 2023-02-28 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 2023-03-31 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
| 2023-04-27 | ₹96,667.06 | -3.33% | 15,075.05 | -2.65% |
| 2023-05-30 | ₹102,003.61 | 2.00% | 15,766.40 | 1.82% |
| 2023-06-29 | ₹111,869.06 | 11.87% | 16,430.00 | 6.10% |
| 2023-07-28 | ₹118,243.91 | 18.24% | 16,948.35 | 9.45% |
| 2023-08-31 | ₹122,652.21 | 22.65% | 16,924.30 | 9.29% |
| 2023-09-29 | ₹131,306.76 | 31.31% | 17,292.60 | 11.67% |
| 2023-10-31 | ₹131,993.96 | 31.99% | 16,801.10 | 8.50% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| SUZLON.NS | 11/1/2023 | 135 | ₹30.60 | SELL* | ₹4,131.00 |
| BSE.NS | 11/1/2023 | 3 | ₹1,863.00 | SELL* | ₹5,589.00 |
| KALYANKJIL.NS | 11/1/2023 | 16 | ₹288.70 | SELL* | ₹4,619.20 |
| MAZDOCK.NS | 11/1/2023 | 2 | ₹1,966.80 | BUY* | ₹3,933.60 |
| IRFC.NS | 11/1/2023 | 72 | ₹72.60 | BUY* | ₹5,227.20 |
| RECLTD.NS | 11/1/2023 | 23 | ₹287.60 | BUY* | ₹6,614.80 |
| MMTC.NS | 11/1/2023 | 35 | ₹55.15 | BUY | ₹1,930.25 |
| SJVN.NS | 11/1/2023 | 58 | ₹71.05 | BUY* | ₹4,120.90 |
| COCHINSHIP.NS | 11/1/2023 | 6 | ₹951.35 | BUY* | ₹5,708.10 |
| APARINDS.NS | 11/1/2023 | 1 | ₹5,179.45 | BUY* | ₹5,179.45 |
| ITI.NS | 11/1/2023 | 8 | ₹269.90 | BUY | ₹2,159.20 |
| KAYNES.NS | 11/1/2023 | 2 | ₹2,383.40 | BUY* | ₹4,766.80 |
| MAPMYINDIA.NS | 11/1/2023 | 2 | ₹2,082.90 | BUY | ₹4,165.80 |
| JYOTHYLAB.NS | 11/1/2023 | 20 | ₹362.60 | BUY* | ₹7,252.00 |
| JINDALSAW.NS | 11/1/2023 | 8 | ₹442.90 | SELL* | ₹3,543.20 |
| IRCON.NS | 11/1/2023 | 25 | ₹138.75 | BUY* | ₹3,468.75 |
| PFC.NS | 11/1/2023 | 28 | ₹246.60 | BUY* | ₹6,904.80 |
| FACT.NS | 11/1/2023 | 3 | ₹756.05 | BUY | ₹2,268.15 |
| SYRMA.NS | 11/1/2023 | 8 | ₹618.35 | BUY | ₹4,946.80 |
| BSOFT.NS | 11/1/2023 | 14 | ₹547.65 | BUY | ₹7,667.10 |
| Total | ₹94,196.10 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for India is 11/01/2023 with the close prices as of 10/31/2023.
After 2 down months in August 2023 & September 2023, October continued to be a down month with the S&P 500 taken down by earnings and geopolitical events.
For the month of October 2023, S&P 500 returned -2.48%. The US Momo was down a bit more than the S&P500 and returned -5.43%. As it can be observed from the trade statistics, only six of the momentum stocks were up with the rest of them declining and some of them by a lot.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| NVDA | $430.89 | 3 | $411.61 | -$19.28 | -4.47% |
| CCL | $14.44 | 66 | $11.40 | -$3.04 | -21.05% |
| ADBE | $504.67 | 2 | $526.94 | $22.27 | 4.41% |
| CEG | $109.32 | 10 | $113.03 | $3.71 | 3.39% |
| LLY | $544.45 | 2 | $565.71 | $21.26 | 3.90% |
| RCL | $94.13 | 11 | $85.86 | -$8.27 | -8.79% |
| ETN | $215.53 | 5 | $197.78 | -$17.75 | -8.24% |
| DLR | $118.54 | 11 | $122.08 | $3.54 | 2.99% |
| META | $303.96 | 4 | $302.66 | -$1.30 | -0.43% |
| TSLA | $246.38 | 2 | $197.36 | -$49.02 | -19.90% |
| CARR | $55.94 | 17 | $47.37 | -$8.57 | -15.32% |
| CAT | $276.24 | 5 | $242.16 | -$34.08 | -12.34% |
| BX | $108.23 | 10 | $92.38 | -$15.85 | -14.64% |
| AKAM | $107.04 | 22 | $102.57 | -$4.47 | -4.18% |
| AVGO | $832.00 | 1 | $841.25 | $9.25 | 1.11% |
| BR | $181.00 | 14 | $169.47 | -$11.53 | -6.37% |
| AMZN | $125.98 | 7 | $132.71 | $6.73 | 5.34% |
| BKR | $36.59 | 42 | $34.96 | -$1.63 | -4.45% |
| ODFL | $406.05 | 3 | $379.14 | -$26.91 | -6.63% |
| CHTR | $444.48 | 2 | $389.80 | -$54.68 | -12.30% |
| Total | $24,223.88 | $22,909.00 | -$1,314.88 | -5.43% |
Following are the cumulative statistics.
The US Momo strategy is down -1.84% for the year, the S&P 500 is up 8.25% and the equal weight index is down -5.15%.
| Date | US MOMO | MOMO P&L % (Total) | S&P 500 | S&P 500 P&L % (Total) | S&P 500 (Equal Weighted Index) | S&P 500 P&L % (Total) (Equal Weighted Index) |
|---|---|---|---|---|---|---|
| 2022-12-29 | $25,000.00 | 0% | 3,849.28 | 0% | 5,764.56 | 0% |
| 2023-01-31 | $26,277.53 | 5.11% | 4,076.60 | 5.91% | 6,158.68 | 6.84% |
| 2023-02-28 | $25,611.62 | 2.45% | 3,970.15 | 3.14% | 5,944.16 | 3.12% |
| 2023-03-31 | $26,000.59 | 4.00% | 4,109.31 | 6.76% | 5,878.10 | 1.97% |
| 2023-04-27 | $25,412.85 | 1.65% | 4,135.35 | 7.43% | 5,829.27 | 1.12% |
| 2023-05-30 | $25,693.71 | 2.77% | 4,179.83 | 8.59% | 5,707.72 | -0.99% |
| 2023-06-29 | $26,990.65 | 7.96% | 4,396.44 | 14.21% | 6,025.36 | 4.52% |
| 2023-07-28 | $28,029.13 | 12.12% | 4,582.23 | 19.04% | 6,268.93 | 8.75% |
| 2023-08-30 | $27,542.76 | 10.17% | 4,514.87 | 17.29% | 6,096.08 | 5.75% |
| 2023-09-29 | $25,886.13 | 3.54% | 4,288.05 | 11.40% | 5,754.77 | -0.17% |
| 2023-10-30 | $24,541.10 | -1.84% | 4,166.82 | 8.25% | 5,467.52 | -5.15% |
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL/HOLD | Total |
|---|---|---|---|---|---|
| MPC | 10/31/2023 | 10 | $430.89 | BUY | $1,468.60 |
| CEG | 10/31/2023 | 12 | $14.44 | BUY* | $1,356.36 |
| HAL | 10/31/2023 | 23 | $504.67 | BUY | $906.66 |
| LLY | 10/31/2023 | 2 | $109.32 | SELL* | $1,131.42 |
| CHTR | 10/31/2023 | 2 | $544.45 | HOLD* | $779.60 |
| ADBE | 10/31/2023 | 2 | $94.13 | HOLD* | $1,053.88 |
| WRK | 10/31/2023 | 34 | $215.53 | BUY | $1,204.62 |
| SLB | 10/31/2023 | 19 | $118.54 | BUY | $1,071.60 |
| ANET | 10/31/2023 | 4 | $303.96 | BUY | $702.88 |
| FANG | 10/31/2023 | 7 | $246.38 | BUY | $1,109.01 |
| ODFL | 10/31/2023 | 3 | $55.94 | BUY | $1,137.42 |
| AKAM | 10/31/2023 | 20 | $276.24 | SELL* | $2,051.40 |
| CF | 10/31/2023 | 12 | $108.23 | BUY | $974.76 |
| PSX | 10/31/2023 | 12 | $107.04 | BUY | $1,349.28 |
| APA | 10/31/2023 | 26 | $832.00 | BUY | $1,031.68 |
| AMGN | 10/31/2023 | 5 | $181.00 | BUY | $1,315.95 |
| TRGP | 10/31/2023 | 18 | $125.98 | BUY | $1,504.80 |
| COP | 10/31/2023 | 9 | $36.59 | BUY | $1,063.26 |
| CDW | 10/31/2023 | 9 | $406.05 | BUY | $1,773.45 |
| BKR | 10/31/2023 | 39 | $444.48 | SELL* | $1,363.44 |
| Total | $24,350.07 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for the US is on 10/31/2023 with the close prices as of 10/30/2023.
We closed the 3rd calendar quarter of the year and the equity markets seem to be holding up fairly well across the globe. In the US, there were a lot of events such as CPI data readings, FOMC meetings etc., which influenced the markets. The performance of US markets especially S&P500, was down. Also, for those of our followers who track the bond market, the long end of the yield curve is yielding higher than it was a month ago. The 10-year treasury rates are close to 4.7%+ as of this writing.
Indian markets continue to go higher, driven by optimism in the economy and overall progress that the country is making in key areas such as infrastructure as well as positive earnings growth for the overall market.
In India, the markets were up modestly for the month of September 2023. The markets moved up more than 1% beyond the shorter-term 20-day moving average and are also higher than the longer-term 200-day moving average. Most of the earnings are out and the market is now looking forward to the festival season and other economic news.
The India Momo algorithm continued its strong performance into the month of September. While there were a few losers in the Momentum portfolio, majority of the MOMO stocks were up and up by a healthy clip. There were a few that were up more than 10% (MAZDOCK, FACT, BSE, RECLTD, GLENMARK, SJVN, AUROPHARMA) and they contributed to the phenomenal performance of the India MOMO algorithm. In September too, the India Momo algorithm handily outperformed the NIFTY500 Index. The returns for India Momo were +5.45% whereas the returns for NIFTY500 was +2.18%.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| MAZDOCK.NS | ₹1,848.95 | 2 | ₹2,192.20 | ₹343.25 | 18.56% |
| SUZLON.NS | ₹24.55 | 131 | ₹25.80 | ₹1.25 | 5.09% |
| JBMA.NS | ₹1,516.05 | 2 | ₹1,371.85 | -₹144.20 | -9.51% |
| ENGINERSIN.NS | ₹154.30 | 36 | ₹147.45 | -₹6.85 | -4.44% |
| OLECTRA.NS | ₹1,248.95 | 2 | ₹1,200.85 | -₹48.10 | -3.85% |
| FACT.NS | ₹463.65 | 8 | ₹538.50 | ₹74.85 | 16.14% |
| BSE.NS | ₹1,062.75 | 3 | ₹1,297.95 | ₹235.20 | 22.13% |
| TANLA.NS | ₹975.75 | 4 | ₹1,037.60 | ₹61.85 | 6.34% |
| TATAMTRDVR.NS | ₹399.50 | 30 | ₹428.05 | ₹28.55 | 7.15% |
| ZENSARTECH.NS | ₹526.95 | 9 | ₹517.40 | -₹9.55 | -1.81% |
| HEG.NS | ₹1,751.55 | 3 | ₹1,723.30 | -₹28.25 | -1.61% |
| RECLTD.NS | ₹238.65 | 20 | ₹287.40 | ₹48.75 | 20.43% |
| GLENMARK.NS | ₹766.85 | 8 | ₹855.50 | ₹88.65 | 11.56% |
| APARINDS.NS | ₹5,008.45 | 1 | ₹5,477.55 | ₹469.10 | 9.37% |
| SJVN.NS | ₹62.65 | 60 | ₹73.15 | ₹10.50 | 16.76% |
| ZOMATO.NS | ₹97.60 | 33 | ₹101.50 | ₹3.90 | 4.00% |
| AUROPHARMA.NS | ₹830.00 | 10 | ₹914.35 | ₹84.35 | 10.16% |
| CEATLTD.NS | ₹2,253.10 | 3 | ₹2,122.05 | -₹131.05 | -5.82% |
| KALYANKJIL.NS | ₹251.80 | 11 | ₹227.55 | -₹24.25 | -9.63% |
| PFC.NS | ₹260.20 | 25 | ₹251.90 | -₹8.30 | -3.19% |
| Total | ₹98,011.55 | ₹103,356.30 | ₹5,344.75 | 5.45% |
Following are the cumulative statistics.
Markets in India have been up 11.61% for the year while the India Momo Algorithm is up 31.31% which is close to 3x the returns of the index, almost a doubling of the performance of the index.
| Date | India MOMO | MOMO P&L % (Total) | NIFTY 500 | NIFTY 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 2023-01-31 | ₹98,800.26 | -1.20% | 14,935.50 | -3.55% |
| 2023-02-28 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 2023-03-31 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
| 2023-04-27 | ₹96,667.06 | -3.33% | 15,075.05 | -2.65% |
| 2023-05-30 | ₹102,003.61 | 2.00% | 15,766.40 | 1.82% |
| 2023-06-29 | ₹111,869.06 | 11.87% | 16,430.00 | 6.10% |
| 2023-07-28 | ₹118,243.91 | 18.24% | 16,948.35 | 9.45% |
| 2023-08-31 | ₹122,652.21 | 22.65% | 16,924.30 | 9.29% |
| 2023-09-29 | ₹131,306.76 | 31.31% | 17,292.60 | 11.67% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| MAZDOCK.NS | 10/3/2023 | 2 | ₹2,192.20 | HOLD* | ₹4,384.40 |
| SUZLON.NS | 10/3/2023 | 220 | ₹25.80 | BUY* | ₹5,676.00 |
| BSE.NS | 10/3/2023 | 4 | ₹1,297.95 | BUY* | ₹5,191.80 |
| KALYANKJIL.NS | 10/3/2023 | 21 | ₹227.55 | BUY* | ₹4,778.55 |
| JINDALSAW.NS | 10/3/2023 | 11 | ₹346.60 | BUY | ₹3,812.60 |
| RECLTD.NS | 10/3/2023 | 14 | ₹287.40 | SELL* | ₹4,023.60 |
| IRFC.NS | 10/3/2023 | 32 | ₹76.55 | BUY | ₹2,449.60 |
| KAYNES.NS | 10/3/2023 | 2 | ₹2,300.30 | SELL* | ₹4,600.60 |
| SJVN.NS | 10/3/2023 | 32 | ₹73.15 | SELL* | ₹2,340.80 |
| JBMA.NS | 10/3/2023 | 8 | ₹1,371.85 | BUY* | ₹10,974.80 |
| COCHINSHIP.NS | 10/3/2023 | 2 | ₹1,085.25 | BUY | ₹2,170.50 |
| APARINDS.NS | 10/3/2023 | 1 | ₹5,477.55 | HOLD* | ₹5,477.55 |
| OLECTRA.NS | 10/3/2023 | 7 | ₹1,200.85 | BUY* | ₹8,405.95 |
| ENGINERSIN.NS | 10/3/2023 | 36 | ₹147.45 | HOLD* | ₹5,308.20 |
| UJJIVANSFB.NS | 10/3/2023 | 119 | ₹54.10 | BUY | ₹6,437.90 |
| PFC.NS | 10/3/2023 | 15 | ₹251.90 | SELL* | ₹3,778.50 |
| IRCON.NS | 10/3/2023 | 18 | ₹144.85 | BUY | ₹2,607.30 |
| ZENSARTECH.NS | 10/3/2023 | 11 | ₹517.40 | BUY* | ₹5,691.40 |
| BEML.NS | 10/3/2023 | 2 | ₹2,318.20 | BUY | ₹4,636.40 |
| JYOTHYLAB.NS | 10/3/2023 | 16 | ₹360.50 | BUY | ₹5,768.00 |
| Total | ₹98,514.45 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for India is 10/03/2023 with the close prices as of 09/29/2023.
After a down month in August 2023, September 2023 continued to be a down month with the S&P500 taken down by both economic data and FOMC meetings. The Federal Reserve is now holding the rates at a considerably high level and intends to continue to hold it higher at least through the end of 2024. As interest rates are foundational to the valuation, and borrowing costs of companies, this will have an overall impact on the economy and we may indeed see a slowing down of the US economy and stock market in the coming months. However, given that we are entering the heart of the US presidential election cycle, it will be extremely hard to forecast the direction of markets and hence sticking with a rules-based approach like QuantMomo’s algorithms do, is highly beneficial.
For the month of September, S&P 500 returned -5.08%. The US Momo was down a bit more than the S&P500 and returned -6.18%. As it can be observed from the trade statistics, only three of the momentum stocks were up with the rest of them declining and some of them by a lot.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| NVDA | $492.64 | 1 | $434.99 | -$57.65 | -11.70% |
| CCL | $15.87 | 62 | $13.72 | -$2.15 | -13.55% |
| RCL | $98.94 | 12 | $92.14 | -$6.80 | -6.87% |
| META | $295.10 | 4 | $300.21 | $5.11 | 1.73% |
| ADBE | $545.36 | 3 | $509.90 | -$35.46 | -6.50% |
| LLY | $547.99 | 1 | $537.13 | -$10.86 | -1.98% |
| PHM | $81.10 | 14 | $74.05 | -$7.05 | -8.69% |
| AVGO | $892.28 | 1 | $830.58 | -$61.70 | -6.91% |
| AMZN | $135.07 | 7 | $127.12 | -$7.95 | -5.89% |
| EQT | $42.99 | 29 | $40.58 | -$2.41 | -5.61% |
| LRCX | $686.53 | 2 | $626.77 | -$59.76 | -8.70% |
| NFLX | $434.67 | 3 | $377.60 | -$57.07 | -13.13% |
| CEG | $105.74 | 13 | $109.08 | $3.34 | 3.16% |
| NCLH | $16.54 | 74 | $16.48 | -$0.06 | -0.36% |
| TSLA | $256.90 | 3 | $250.22 | -$6.68 | -2.60% |
| ORCL | $121.12 | 11 | $105.92 | -$15.20 | -12.55% |
| VMC | $218.24 | 8 | $202.02 | -$16.22 | -7.43% |
| MLM | $446.03 | 4 | $410.48 | -$35.55 | -7.97% |
| ETN | $230.08 | 10 | $213.28 | -$16.80 | -7.30% |
| AKAM | $104.64 | 10 | $106.54 | $1.90 | 1.82% |
| Total | $24504.12 | $22988.88 | -$1,515.24 | -6.18% |
Following are the cumulative statistics.
As it can be seen, we have been underperforming the cap weighted S&P500 index’s performance. The reason for this is that the performance of the index is driven by the 7 ultra large-cap stocks (FANG+). The US Momo strategy is up 3.54% for the year, the S&P500 is up 11.40% and the equal weight index is flat at -0.17%.
| Date | US MOMO | MOMO P&L % (Total) | S&P 500 | S&P 500 P&L % (Total) | S&P 500 (Equal Weighted Index) | S&P 500 P&L % (Total) (Equal Weighted Index) |
|---|---|---|---|---|---|---|
| 2022-12-29 | $25,000.00 | 0% | 3,849.28 | 0% | 5,764.56 | 0% |
| 2023-01-31 | $26,277.53 | 5.11% | 4,076.60 | 5.91% | 6,158.68 | 6.84% |
| 2023-02-28 | $25,611.62 | 2.45% | 3,970.15 | 3.14% | 5,944.16 | 3.12% |
| 2023-03-31 | $26,000.59 | 4.00% | 4,109.31 | 6.76% | 5,878.10 | 1.97% |
| 2023-04-27 | $25,412.85 | 1.65% | 4,135.35 | 7.43% | 5,829.27 | 1.12% |
| 2023-05-30 | $25,693.71 | 2.77% | 4,179.83 | 8.59% | 5,707.72 | -0.99% |
| 2023-06-29 | $26,990.65 | 7.96% | 4,396.44 | 14.21% | 6,025.36 | 4.52% |
| 2023-07-28 | $28,029.13 | 12.12% | 4,582.23 | 19.04% | 6,268.93 | 8.75% |
| 2023-08-30 | $27,542.76 | 10.17% | 4,514.87 | 17.29% | 6,096.08 | 5.75% |
| 2023-09-29 | $25,886.13 | 3.54% | 4,288.05 | 11.40% | 5,754.77 | -0.17% |
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL/HOLD | Total |
|---|---|---|---|---|---|
| NVDA | 9/29/2023 | 3 | $430.89 | SELL* | $1,292.67 |
| CCL | 9/29/2023 | 66 | $14.44 | BUY* | $953.04 |
| ADBE | 9/29/2023 | 2 | $504.67 | SELL* | $1,009.34 |
| CEG | 9/29/2023 | 10 | $109.32 | BUY* | $1,093.20 |
| LLY | 9/29/2023 | 2 | $544.45 | BUY | $1,088.90 |
| RCL | 9/29/2023 | 11 | $94.13 | SELL* | $1,035.43 |
| ETN | 9/29/2023 | 5 | $215.53 | SELL* | $1,077.65 |
| DLR | 9/29/2023 | 11 | $118.54 | BUY | $1,303.94 |
| META | 9/29/2023 | 4 | $303.96 | HOLD* | $1,215.84 |
| TSLA | 9/29/2023 | 2 | $246.38 | SELL* | $492.76 |
| CARR | 9/29/2023 | 17 | $55.94 | BUY | $950.98 |
| CAT | 9/29/2023 | 5 | $276.24 | BUY | $1,381.20 |
| BX | 9/29/2023 | 10 | $108.23 | BUY | $1,082.30 |
| AKAM | 9/29/2023 | 22 | $107.04 | BUY* | $2,354.88 |
| AVGO | 9/29/2023 | 1 | $832.00 | HOLD* | $832.00 |
| BR | 9/29/2023 | 14 | $181.00 | BUY | $2,534.00 |
| AMZN | 9/29/2023 | 7 | $125.98 | HOLD* | $881.86 |
| BKR | 9/29/2023 | 42 | $36.59 | BUY | $1,536.78 |
| ODFL | 9/29/2023 | 3 | $406.05 | BUY | $1,218.15 |
| CHTR | 9/29/2023 | 2 | $444.48 | BUY | $888.96 |
| Total | $24,223.88 |
*We are now updating the BUY/SELL column to correctly reflect the transactions. BUY* means we buy more of an existing stock, SELL* means we sell some of the existing stocks, HOLD* means no change to the quantity of existing stocks.
The trade date for the US is on 09/29/2023 with the close prices as of 09/28/2023.
August was a choppy month for both the US and Indian stock markets. Both the indexes we track – S&P500 in the US and NSE500 in India were down for the month of August 2023.
In India the markets are in almost a holding pattern and going through some of the key levels such as the 20-day moving average (20dma) on the NSE500. Earnings for a lot of companies are being announced and it remains to be seen whether the market is able to make new highs beyond the 17000 level on the NSE500. The current 20dma for NSE500 is around the 16900 area.
The India Momo algorithm continued its strong performance into the month of August from July. There were a few stocks that appreciated more than 10% and a couple of blockbuster stocks such as APAR Industries (APARIND.NS) which was up close to 30% due to earnings and Suzlon Energy (SUZLON.NS) which was up more than 36% driven by a contract announcement. In August too, the India Momo algorithm handily outperformed the NIFTY500 Index. The returns for India Momo were +3.01% whereas the returns for NIFTY500 was -0.14%.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| JBMA.NS | ₹1,411.95 | 2 | ₹1,516.05 | ₹104.10 | 7.37% |
| OLECTRA.NS | ₹1,177.25 | 2 | ₹1,248.95 | ₹71.70 | 6.09% |
| RVNL.NS | ₹120.95 | 30 | ₹131.05 | ₹10.10 | 8.35% |
| MAZDOCK.NS | ₹1,961.50 | 1 | ₹1,848.95 | -₹112.55 | -5.74% |
| GLENMARK.NS | ₹798.75 | 6 | ₹766.85 | -₹31.90 | -3.99% |
| SUZLON.NS | ₹18.05 | 151 | ₹24.55 | ₹6.50 | 36.01% |
| AUROPHARMA.NS | ₹837.00 | 7 | ₹830.00 | -₹7.00 | -0.84% |
| ZENSARTECH.NS | ₹491.70 | 11 | ₹526.95 | ₹35.25 | 7.17% |
| CYIENT.NS | ₹1,463.00 | 4 | ₹1,637.35 | ₹174.35 | 11.92% |
| FACT.NS | ₹476.95 | 9 | ₹463.65 | -₹13.30 | -2.79% |
| APARINDS.NS | ₹3,858.15 | 1 | ₹5,008.45 | ₹1,150.30 | 29.81% |
| TANLA.NS | ₹1,221.50 | 3 | ₹975.75 | -₹245.75 | -20.12% |
| ENGINERSIN.NS | ₹154.55 | 37 | ₹154.30 | -₹0.25 | -0.16% |
| HEG.NS | ₹1,686.00 | 3 | ₹1,751.55 | ₹65.55 | 3.89% |
| CHOLAHLDNG.NS | ₹930.50 | 10 | ₹984.10 | ₹53.60 | 5.76% |
| ZOMATO.NS | ₹86.80 | 62 | ₹97.60 | ₹10.80 | 12.44% |
| CHOLAFIN.NS | ₹1,137.60 | 7 | ₹1,121.85 | -₹15.75 | -1.38% |
| EQUITASBNK.NS | ₹98.70 | 92 | ₹90.50 | -₹8.20 | -8.31% |
| TATAMTRDVR.NS | ₹413.40 | 9 | ₹399.50 | -₹13.90 | -3.36% |
| CEATLTD.NS | ₹2,434.25 | 1 | ₹2,253.10 | -₹181.15 | -7.44% |
| Total | ₹95,882.75 | ₹98,766.50 | ₹2,883.75 | 3.01% |
Following are the cumulative statistics.
| Date | India MOMO | MOMO P&L % (Total) | NIFTY 500 | NIFTY 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 2023-01-31 | ₹98,800.26 | -1.20% | 14,935.50 | -3.55% |
| 2023-02-28 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 2023-03-31 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
| 2023-04-27 | ₹96,667.06 | -3.33% | 15,075.05 | -2.65% |
| 2023-05-30 | ₹102,003.61 | 2.00% | 15,766.40 | 1.82% |
| 2023-06-29 | ₹111,869.06 | 11.87% | 16,430.00 | 6.10% |
| 2023-07-28 | ₹118,243.91 | 18.24% | 16,948.35 | 9.45% |
| 2023-08-31 | ₹122,652.21 | 22.65% | 16,924.30 | 9.29% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| MAZDOCK.NS | 9/1/2023 | 2 | ₹1,848.95 | BUY* | ₹3,697.90 |
| SUZLON.NS | 9/1/2023 | 131 | ₹24.55 | BUY* | ₹3,216.05 |
| JBMA.NS | 9/1/2023 | 2 | ₹1,516.05 | BUY* | ₹3,032.10 |
| ENGINERSIN.NS | 9/1/2023 | 36 | ₹154.30 | BUY* | ₹5,554.80 |
| OLECTRA.NS | 9/1/2023 | 2 | ₹1,248.95 | BUY* | ₹2,497.90 |
| FACT.NS | 9/1/2023 | 8 | ₹463.65 | BUY* | ₹3,709.20 |
| BSE.NS | 9/1/2023 | 3 | ₹1,062.75 | BUY | ₹3,188.25 |
| TANLA.NS | 9/1/2023 | 4 | ₹975.75 | BUY* | ₹3,903.00 |
| TATAMTRDVR.NS | 9/1/2023 | 30 | ₹399.50 | BUY* | ₹11,985.00 |
| ZENSARTECH.NS | 9/1/2023 | 9 | ₹526.95 | BUY* | ₹4,742.55 |
| HEG.NS | 9/1/2023 | 3 | ₹1,751.55 | BUY* | ₹5,254.65 |
| RECLTD.NS | 9/1/2023 | 20 | ₹238.65 | BUY | ₹4,773.00 |
| GLENMARK.NS | 9/1/2023 | 8 | ₹766.85 | BUY* | ₹6,134.80 |
| APARINDS.NS | 9/1/2023 | 1 | ₹5,008.45 | BUY* | ₹5,008.45 |
| SJVN.NS | 9/1/2023 | 60 | ₹62.65 | BUY | ₹3,759.00 |
| ZOMATO.NS | 9/1/2023 | 33 | ₹97.60 | BUY* | ₹3,220.80 |
| AUROPHARMA.NS | 9/1/2023 | 10 | ₹830.00 | BUY* | ₹8,300.00 |
| CEATLTD.NS | 9/1/2023 | 3 | ₹2,253.10 | BUY* | ₹6,759.30 |
| KALYANKJIL.NS | 9/1/2023 | 11 | ₹251.80 | BUY | ₹2,769.80 |
| PFC.NS | 9/1/2023 | 25 | ₹260.20 | BUY | ₹6,505.00 |
| Total | ₹98,011.55 |
*Same stock symbols as the previous month. Quantity can be different. The trade date is on 09/01/2023 with the close prices as of 08/31/2023
In the US, most of the earnings of the S&P 500 companies were out in July with a few such as NVDA and others that were announced in August. The market is trying to find its next move based on all the information and data that has come out until now.
For the month of August, the S&P 500 returns were -1.51%. The US Momo was down about the same as the S&P500 with a return of -1.59%. As it can be observed from the trade statistics, a majority of the Momentum stocks were down with some down over 10%. There were a handful of winners with Eli Lilly up 19.52% based on their earnings.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| NVDA | $467.50 | 2 | $492.64 | $25.14 | 5.38% |
| META | $325.48 | 3 | $295.10 | -$30.38 | -9.33% |
| PHM | $84.82 | 10 | $81.10 | -$3.72 | -4.39% |
| AVGO | $899.79 | 2 | $892.28 | -$7.51 | -0.83% |
| ISRG | $326.53 | 3 | $318.58 | -$7.95 | -2.43% |
| LLY | $458.48 | 3 | $547.99 | $89.51 | 19.52% |
| CCL | $18.49 | 35 | $15.87 | -$2.62 | -14.17% |
| RCL | $108.57 | 8 | $98.94 | -$9.63 | -8.87% |
| AMD | $112.96 | 9 | $106.59 | -$6.37 | -5.64% |
| MSFT | $338.37 | 3 | $328.79 | -$9.58 | -2.83% |
| ORCL | $115.99 | 14 | $121.12 | $5.13 | 4.42% |
| CPRT* | $44.31 | 36 | $45.07 | $0.77 | 1.73% |
| TTWO | $151.60 | 9 | $141.83 | -$9.77 | -6.44% |
| AMZN | $132.21 | 9 | $135.07 | $2.86 | 2.16% |
| GE | $114.39 | 10 | $114.31 | -$0.08 | -0.07% |
| TAP | $70.55 | 25 | $63.08 | -$7.47 | -10.59% |
| VRSK | $232.16 | 9 | $241.67 | $9.51 | 4.10% |
| ADBE | $528.87 | 3 | $545.36 | $16.49 | 3.12% |
| FTNT | $76.80 | 17 | $61.22 | -$15.58 | -20.29% |
| TOTAL | $24,124.14 | $23,740.75 | -$383.39 | -1.59% |
*CPRT stock split occurred in August with a ratio of 2:1 and the purchase price has been adjusted along with the number of shares.
Following are the cumulative statistics.
| Date | US MOMO | MOMO P&L % (Total) | S&P 500 | S&P 500 P&L % (Total) | S&P 500 (Equal Weighted Index) | S&P 500 P&L % (Total) (Equal Weighted Index) |
|---|---|---|---|---|---|---|
| 2022-12-29 | $25,000.00 | 0 | 3,849.28 | 0 | 5,764.56 | 0 |
| 2023-01-31 | $26,277.53 | 5.11% | 4,076.60 | 5.91% | 6,158.68 | 6.84% |
| 2023-02-28 | $25,611.62 | 2.45% | 3,970.15 | 3.14% | 5,944.16 | 3.12% |
| 2023-03-31 | $26,000.59 | 4.00% | 4,109.31 | 6.76% | 5,878.10 | 1.97% |
| 2023-04-27 | $25,412.85 | 1.65% | 4,135.35 | 7.43% | 5,829.27 | 1.12% |
| 2023-05-30 | $25,693.71 | 2.77% | 4,179.83 | 8.59% | 5,707.72 | -0.99% |
| 2023-06-29 | $26,990.65 | 7.96% | 4,396.44 | 14.21% | 6,025.36 | 4.52% |
| 2023-07-28 | $28,029.13 | 12.12% | 4,582.23 | 19.04% | 6,268.93 | 8.75% |
| 2023-08-30 | $27,542.76 | 10.17% | 4,514.87 | 17.29% | 6,096.08 | 5.75% |
As you can see, the US momo algorithm is underperforming the S&P 500 but is beating the equal weighted index returns.
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| NVDA | 8/31/2023 | 1 | $492.64 | BUY* | $492.64 |
| CCL | 8/31/2023 | 62 | $15.87 | BUY* | $983.94 |
| RCL | 8/31/2023 | 12 | $98.94 | BUY* | $1,187.28 |
| META | 8/31/2023 | 4 | $295.10 | BUY* | $1,180.40 |
| ADBE | 8/31/2023 | 3 | $545.36 | BUY* | $1,636.08 |
| LLY | 8/31/2023 | 1 | $547.99 | BUY* | $547.99 |
| PHM | 8/31/2023 | 14 | $81.10 | BUY* | $1,135.40 |
| AVGO | 8/31/2023 | 1 | $892.28 | BUY* | $892.28 |
| AMZN | 8/31/2023 | 7 | $135.07 | BUY* | $945.49 |
| EQT | 8/31/2023 | 29 | $42.99 | BUY | $1,246.71 |
| LRCX | 8/31/2023 | 2 | $686.53 | BUY | $1,373.06 |
| NFLX | 8/31/2023 | 3 | $434.67 | BUY | $1,304.01 |
| CEG | 8/31/2023 | 13 | $105.74 | BUY | $1,374.62 |
| NCLH | 8/31/2023 | 74 | $16.54 | BUY | $1,223.96 |
| TSLA | 8/31/2023 | 3 | $256.90 | BUY | $770.70 |
| ORCL | 8/31/2023 | 11 | $121.12 | BUY* | $1,332.32 |
| VMC | 8/31/2023 | 8 | $218.24 | BUY | $1,745.92 |
| MLM | 8/31/2023 | 4 | $446.03 | BUY | $1,784.12 |
| ETN | 8/31/2023 | 10 | $230.08 | BUY | $2,300.80 |
| AKAM | 8/31/2023 | 10 | $104.64 | BUY | $1,046.40 |
| Total | $24,504.12 |
*Same stock symbols as the previous month. Quantity can be different. The trade date is on 08/31/2023 with the close prices as of 08/30/2023
July was also a good month for the markets in Indian and US. The US market continued its upward trajectory driven by news around AI, Inflation coming down and the Federal Reserve raising the short term federal funds rate to 5.25% -5.5%. The breadth in the US markets improved in July with more stocks participating in the rally. The breadth in the US markets continues to be concentrated to a few stocks. S&P500 is up a little over 18% while the equal weight index is up over 10%. The 8% difference is due to the mega-cap stocks from F(acebook)ATMAN(flx)N(vidia)G group driving the rallies.
The markets in India continue to propel higher with broad participation by a majority of the stocks. The last few sessions in the Indian market (NSE, BSE Sensex) have been volatile. In other news, the Indian Government is looking to protect retail investors from derivatives trading by linking the limit on such trades to their net wealth. It will be interesting to see how that plays out given the volume of derivatives trading has increased substantially.
The India Momo algorithm continued its strong performance into the month of July. There were 5 stocks in the portfolio that appreciated in value over 15% in July. A couple of them were up more than 20%. In July, similar to June, the India Momo algorithm handily outperformed the NIFTY500 Index. The returns for India Momo were 6.14% whereas NIFTY500 was only up 3.15%
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| JBMA.NS | ₹1,337.25 | 1 | ₹1,411.95 | ₹74.70 | 5.59% |
| ANURAS.NS | ₹1,030.00 | 7 | ₹976.75 | -₹53.25 | -5.17% |
| CYIENT.NS | ₹1,500.70 | 2 | ₹1,463.00 | -₹37.70 | -2.51% |
| OLECTRA.NS | ₹972.20 | 4 | ₹1,177.25 | ₹205.05 | 21.09% |
| SONATSOFTW.NS | ₹1,009.45 | 6 | ₹1,061.40 | ₹51.95 | 5.15% |
| ZENSARTECH.NS | ₹386.95 | 11 | ₹491.70 | ₹104.75 | 27.07% |
| APARINDS.NS | ₹3,470.05 | 1 | ₹3,858.15 | ₹388.10 | 11.18% |
| RVNL.NS | ₹121.90 | 44 | ₹120.95 | -₹0.95 | -0.78% |
| AUROPHARMA.NS | ₹727.35 | 9 | ₹837.00 | ₹109.65 | 15.08% |
| GLENMARK.NS | ₹676.00 | 8 | ₹798.75 | ₹122.75 | 18.16% |
| TRITURBINE.NS | ₹406.75 | 11 | ₹398.70 | -₹8.05 | -1.98% |
| CHOLAFIN.NS | ₹1,142.00 | 6 | ₹1,137.60 | -₹4.40 | -0.39% |
| EQUITASBNK.NS | ₹90.10 | 53 | ₹98.70 | ₹8.60 | 9.54% |
| FINCABLES.NS | ₹858.75 | 4 | ₹1,039.25 | ₹180.50 | 21.02% |
| ABB.NS | ₹4,423.00 | 1 | ₹4,516.20 | ₹93.20 | 2.11% |
| DATAPATTNS.NS | ₹1,868.20 | 2 | ₹2,009.25 | ₹141.05 | 7.55% |
| KPITTECH.NS | ₹1,089.80 | 4 | ₹1,071.50 | -₹18.30 | -1.68% |
| INGERRAND.NS | ₹2,859.20 | 2 | ₹2,899.80 | ₹40.60 | 1.42% |
| KEI.NS | ₹2,315.60 | 2 | ₹2,437.60 | ₹122.00 | 5.27% |
| CERA.NS | ₹7,660.90 | 1 | ₹7,672.55 | ₹11.65 | 0.15% |
| Total | ₹96,604.05 | ₹102,531.7 | ₹5,927.65 | 6.14% |
Every quarter we promised to update our audience with the quarterly cumulative performance. From this month onwards, we will post the YTD performance every month!
Following are the cumulative statistics.
| Date | India MOMO | MOMO P&L % (Total) | NIFTY 500 | NIFTY 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 2023-01-31 | ₹98,800.26 | -1.20% | 14,935.50 | -3.55% |
| 2023-02-28 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 2023-03-31 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
| 2023-04-27 | ₹96,667.06 | -3.33% | 15,075.05 | -2.65% |
| 2023-05-30 | ₹102,003.61 | 2.00% | 15,766.40 | 1.82% |
| 2023-06-29 | ₹111,869.06 | 11.87% | 16,430.00 | 6.10% |
| 2023-07-28 | ₹118,243.91 | 18.24% | 16,948.35 | 9.45% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| JBMA.NS | 7/31/2023 | 2 | ₹1,411.95 | BUY* | ₹2,823.90 |
| OLECTRA.NS | 7/31/2023 | 2 | ₹1,177.25 | BUY* | ₹2,354.50 |
| RVNL.NS | 7/31/2023 | 30 | ₹120.95 | BUY* | ₹3,628.50 |
| MAZDOC.NS | 7/31/2023 | 1 | ₹1,961.50 | BUY | ₹1,961.50 |
| GLENMARK.NS | 7/31/2023 | 6 | ₹798.75 | BUY* | ₹4,792.50 |
| SUZLON.NS | 7/31/2023 | 151 | ₹18.05 | BUY | ₹2,725.55 |
| AUROPHARMA.NS | 7/31/2023 | 7 | ₹837.00 | BUY* | ₹5,859.00 |
| ZENSARTECH.NS | 7/31/2023 | 11 | ₹491.70 | BUY | ₹5,408.70 |
| CYIENT.NS | 7/31/2023 | 4 | ₹1,463.00 | BUY* | ₹5,852.00 |
| FACT.NS | 7/31/2023 | 9 | ₹476.95 | BUY | ₹4,292.55 |
| APARINDS.NS | 7/31/2023 | 1 | ₹3,858.15 | BUY* | ₹3,858.15 |
| TANLA.NS | 7/31/2023 | 3 | ₹1,221.50 | BUY | ₹3,664.50 |
| ENGINERSIN.NS | 7/31/2023 | 37 | ₹154.55 | BUY | ₹5,718.35 |
| HEG.NS | 7/31/2023 | 3 | ₹1,686.00 | BUY | ₹5,058.00 |
| CHOLAHLDNG.NS | 7/31/2023 | 10 | ₹930.50 | BUY | ₹9,305.00 |
| ZOMATO.NS | 7/31/2023 | 62 | ₹86.80 | BUY | ₹5,381.60 |
| CHOLAFIN.NS | 7/31/2023 | 7 | ₹1,137.60 | BUY* | ₹7,963.20 |
| EQUITASBNK.NS | 7/31/2023 | 92 | ₹98.70 | BUY* | ₹9,080.40 |
| TATAMTRDVR.NS | 7/31/2023 | 9 | ₹413.40 | BUY | ₹3,720.60 |
| CEATLTD.NS | 7/31/2023 | 1 | ₹2,434.25 | BUY | ₹2,434.25 |
| Total | ₹95,882.75 | ||||
*Same stock symbols as the previous month. Quantity can be different. The trade date is on 07/31/2023 with the close prices as of 07/28/2023
The US market continued its uptrend into the first month of Q3. The market rallies are driven by multiple factors including Earnings from companies that have had a strong Q2 and also provided good guidance for the rest of the year, Federal Reserve Signaling about the future of rate hikes and soft -landing scenarios, continued momentum of AI stocks such as Nvidia and others etc., As noted in our last update, there is still a lot of liquidity chasing assets in the market.
For the month of July, the S&P 500 was up 4.23%. The US Momo algorithm produced return of 3.80% which was slightly worse than the index performance.
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| NVDA | $408.22 | 2 | $467.50 | $59.28 | 14.52% |
| META | $281.53 | 3 | $325.48 | $43.95 | 15.61% |
| AMD | $111.24 | 5 | $112.96 | $1.72 | 1.55% |
| PHM | $77.32 | 15 | $84.82 | $7.50 | 9.70% |
| MSFT | $335.05 | 3 | $338.37 | $3.32 | 0.99% |
| CRM | $210.43 | 4 | $225.60 | $15.17 | 7.21% |
| CPRT | $90.26 | 23 | $88.61 | -$1.65 | -1.83% |
| GE | $107.74 | 12 | $114.39 | $6.65 | 6.17% |
| CMG | $2110.60 | 1 | $1,912.52 | -$198.08 | -9.39% |
| WST | $377.36 | 4 | $365.46 | -$11.90 | -3.15% |
| FTNT | $75.09 | 11 | $76.80 | $1.71 | 2.28% |
| AAPL | $189.59 | 10 | $195.83 | $6.24 | 3.29% |
| GOOGL | $119.1 | 9 | $132.58 | $13.48 | 11.32% |
| GOOG | $120.01 | 9 | $133.01 | $13.00 | 10.83% |
| TTWO | $145.47 | 12 | $151.60 | $6.13 | 4.21% |
| AVGO | $862.57 | 1 | $899.79 | $37.22 | 4.32% |
| RCL | $101.56 | 10 | $108.57 | $7.01 | 6.90% |
| AMZN | $127.9 | 7 | $132.21 | $4.31 | 3.37% |
| CDNS | $228.54 | 5 | $234.24 | $5.70 | 2.49% |
| TAP | $65.62 | 28 | $70.55 | $4.93 | 7.51% |
| Total | $24,585.85 | $25,521.29 | $935.44 | 3.8% |
Every quarter we promised to update our audience with the quarterly cumulative performance. From this month onwards, we will post the YTD performance every month!
Following are the cumulative statistics.
| Date | US MOMO | MOMO P&L % (Total) | S&P 500 | S&P 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | $25,000.00 | 0 | 3,849.28 | 0 |
| 2023-01-31 | $26,277.53 | 5.11% | 4,076.60 | 5.91% |
| 2023-02-28 | $25,611.62 | 2.45% | 3,970.15 | 3.14% |
| 2023-03-31 | $26,000.59 | 4.00% | 4,109.31 | 6.76% |
| 2023-04-27 | $25,412.85 | 1.65% | 4,135.35 | 7.43% |
| 2023-05-30 | $25,693.71 | 2.77% | 4,179.83 | 8.59% |
| 2023-06-29 | $26,990.65 | 7.96% | 4,396.44 | 14.21% |
| 2023-07-28 | $28,029.13 | 12.12% | 4,582.23 | 19.04% |
As you can see, the US momo algorithm is underperforming the S&P 500 but is tracking close to the Equal weighted returns.
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| NVDA | 7/31/2023 | 2 | $467.50 | BUY* | $935.00 |
| META | 7/31/2023 | 3 | $325.48 | BUY* | $976.44 |
| PHM | 7/31/2023 | 10 | $84.82 | BUY* | $848.20 |
| AVGO | 7/31/2023 | 2 | $899.79 | BUY* | $1,799.58 |
| ISRG | 7/31/2023 | 3 | $326.53 | BUY | $979.59 |
| LLY | 7/31/2023 | 3 | $458.48 | BUY | $1,375.44 |
| CCL | 7/31/2023 | 35 | $18.49 | BUY | $647.15 |
| RCL | 7/31/2023 | 8 | $108.57 | BUY* | $868.56 |
| AMD | 7/31/2023 | 9 | $112.96 | BUY* | $1,016.64 |
| MSFT | 7/31/2023 | 3 | $338.37 | BUY* | $1,015.11 |
| ORCL | 7/31/2023 | 14 | $115.99 | BUY | $1,623.86 |
| CPRT | 7/31/2023 | 18 | $88.61 | BUY* | $1,594.98 |
| TTWO | 7/31/2023 | 9 | $151.60 | BUY* | $1,364.40 |
| AMZN | 7/31/2023 | 9 | $132.21 | BUY* | $1,189.89 |
| GE | 7/31/2023 | 10 | $114.39 | BUY* | $1,143.90 |
| TAP | 7/31/2023 | 25 | $70.55 | BUY* | $1,763.75 |
| VRSK | 7/31/2023 | 9 | $232.16 | BUY | $2,089.44 |
| ADBE | 7/31/2023 | 3 | $528.87 | BUY | $1,586.61 |
| FTNT | 7/31/2023 | 17 | $76.80 | BUY* | $1,305.60 |
| Total | $24,124.14 |
*Same stock symbols as the previous month. Quantity can be different. The trade date is on 07/31/2023 with the close prices as of 07/28/2023
June was a very good month in both the US and India markets. Both markets produced a very healthy return for investors. While the rate of change for Inflation is coming down in the US, there is still a long way to go to get to the 2% target that the Federal Reserve is trying to achieve. The breadth in the US markets continues to be concentrated to a few stocks. The best example to understand this disparity is to observe the returns of the Cap-weighted S&P 500 index and the Equal-weighted S&P 500 Index – The S&P 500 is up 14.21% while the Equal Cap S&P 500 index is only up 6%. The excess 8% returns of the index are driven by a few stocks and not all the stocks are participating in this rally.
The markets in India are a different story with a majority of the stocks participating in the rally. All the indices in India NIFTY, Sensex etc., are all rallying and producing positive returns. The IT sector is one of the underperforming sectors in the Indian market.
The India Momo algorithm performance started off weak at the beginning of the year. In June, the algorithm more than doubled the performance offered by the NIFTY 500 Index with returns of about 10.15%. Meanwhile, the NIFTY500 was only up 4.21%
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| JBMA.NS | ₹807.80 | 6 | ₹1,337.25 | ₹529.45 | 65.54% |
| APARINDS.NS | ₹2,779.35 | 1 | ₹3,470.05 | ₹690.70 | 24.85% |
| FINCABLES.NS | ₹800.95 | 8 | ₹858.75 | ₹57.80 | 7.22% |
| SONATSOFTW.NS | ₹971.75 | 5 | ₹1,009.45 | ₹37.70 | 3.88% |
| ANURAS.NS | ₹1,166.00 | 4 | ₹1,030.00 | -₹136.00 | -11.66% |
| CYIENT.NS | ₹1,297.90 | 3 | ₹1,500.70 | ₹202.80 | 15.63% |
| ZENSARTECH.NS | ₹369.65 | 7 | ₹386.95 | ₹17.30 | 4.68% |
| NCC.NS | ₹119.25 | 24 | ₹122.10 | ₹2.85 | 2.39% |
| EQUITASBNK.NS | ₹86.40 | 58 | ₹90.10 | ₹3.70 | 4.28% |
| POLICYBZR.NS | ₹605.95 | 11 | ₹696.80 | ₹90.85 | 14.99% |
| KPITTECH.NS | ₹1,063.05 | 5 | ₹1,089.80 | ₹26.75 | 2.52% |
| TRITURBINE.NS | ₹399.50 | 9 | ₹406.75 | ₹7.25 | 1.81% |
| AUROPHARMA.NS | ₹658.60 | 7 | ₹727.35 | ₹68.75 | 10.44% |
| CERA.NS | ₹7,521.25 | 1 | ₹7,660.90 | ₹139.65 | 1.86% |
| PAYTM.NS | ₹697.35 | 8 | ₹867.85 | ₹170.50 | 24.45% |
| JSL.NS | ₹293.65 | 15 | ₹330.40 | ₹36.75 | 12.51% |
| INGERRAND.NS | ₹2,737.80 | 2 | ₹2,859.20 | ₹121.40 | 4.43% |
| INDIAMART.NS* | ₹5,580.55 | 1 | ₹5,628.40 | ₹47.85 | 0.86% |
| ABB.NS | ₹4,125.90 | 2 | ₹4,423.00 | ₹297.10 | 7.20% |
| DATAPATTNS.NS | ₹1,689.10 | 3 | ₹1,868.20 | ₹179.10 | 10.60% |
| Total | ₹99,977.40 | ₹110,120.85 | ₹10,143.45 | 10.15% |
*INDIAMART.NS had a stock split and the data above shows the price adjusted for the split – 1 share of INDIAMART.NS split into 2 shares with the price reduced in half.
Markets in India have been up 6.1% for the year while the India Momo Algorithm is up 11.87% almost a doubling of the performance of the index.
Following are the cumulative statistics.
| Date | India MOMO | MOMO P&L % (Total) | NIFTY 500 | NIFTY 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 2023-01-31 | ₹98,800.26 | -1.20% | 14,935.50 | -3.55% |
| 2023-02-28 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 2023-03-31 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
| 2023-04-27 | ₹96,667.06 | -3.33% | 15,075.05 | -2.65% |
| 2023-05-30 | ₹102,003.61 | 2.00% | 15,766.40 | 1.82% |
| 2023-06-29 | ₹111,869.06 | 11.87% | 16,430.00 | 6.10% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| JBMA.NS | 6/30/2023 | 1 | ₹1,337.25 | BUY* | ₹1,337.25 |
| ANURAS.NS | 6/30/2023 | 7 | ₹1,030.00 | BUY* | ₹7,210.00 |
| CYIENT.NS | 6/30/2023 | 2 | ₹1,500.70 | BUY* | ₹3,001.40 |
| OLECTRA.NS | 6/30/2023 | 4 | ₹972.20 | BUY | ₹3,888.80 |
| SONATSOFTW.NS | 6/30/2023 | 6 | ₹1,009.45 | BUY* | ₹6,056.70 |
| ZENSARTECH.NS | 6/30/2023 | 11 | ₹386.95 | BUY* | ₹4,256.45 |
| APARINDS.NS | 6/30/2023 | 1 | ₹3,470.05 | BUY* | ₹3,470.05 |
| RVNL.NS | 6/30/2023 | 44 | ₹121.90 | BUY | ₹5,363.60 |
| AUROPHARMA.NS | 6/30/2023 | 9 | ₹727.35 | BUY* | ₹6,546.15 |
| GLENMARK.NS | 6/30/2023 | 8 | ₹676.00 | BUY | ₹5,408.00 |
| TRITURBINE.NS | 6/30/2023 | 11 | ₹406.75 | BUY | ₹4,474.25 |
| CHOLAFIN.NS | 6/30/2023 | 6 | ₹1,142.00 | BUY | ₹6,852.00 |
| EQUITASBNK.NS | 6/30/2023 | 53 | ₹90.10 | BUY* | ₹4,775.30 |
| FINCABLES.NS | 6/30/2023 | 4 | ₹858.75 | BUY* | ₹3,435.00 |
| ABB.NS | 6/30/2023 | 1 | ₹4,423.00 | BUY* | ₹4,423.00 |
| DATAPATTNS.NS | 6/30/2023 | 2 | ₹1,868.20 | BUY* | ₹3,736.40 |
| KPITTECH.NS | 6/30/2023 | 4 | ₹1,089.80 | BUY* | ₹4,359.20 |
| INGERRAND.NS | 6/30/2023 | 2 | ₹2,859.20 | BUY* | ₹5,718.40 |
| KEI.NS | 6/30/2023 | 2 | ₹2,315.60 | BUY | ₹4,631.20 |
| CERA.NS | 6/30/2023 | 1 | ₹7,660.90 | BUY* | ₹7,660.90 |
| Total | ₹96,604.05 |
*Same stock symbols as the previous month. Quantity can be different. The trade date is on 06/30/2023 with the close prices as of 06/29/2023
The US market had a solid Q2 2023 driven by a variety of factors such as GDP beating expectations, earnings growth and news related to Inflation rates coming down. However, there is also an increase in the liquidity in the overall market driven by the BTFP program of the Fed which is providing liquidity to the banks. While this is not QE, it has expanded the Fed balance sheet which somehow finds its way to the stock market and drives up the valuations.
For the month of June, the S&P 500 was up 5.18%. The US Momo algorithm produced a return of 5.73% which was slightly better than the index performance. The reason for the similarity in performance is due to the fact that the Algorithm recognized the momentum of the large cap stocks such as Microsoft, Nvidia, Meta, and others
| Stock Symbol | Purchase Price | Number of Shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| META | $262.52 | 5 | $281.53 | $19.01 | 7.24% |
| NVDA | $401.11 | 1 | $408.22 | $7.11 | 1.77% |
| WST | $336.35 | 5 | $377.36 | $41.01 | 12.19% |
| GE | $102.40 | 12 | $107.74 | $5.34 | 5.21% |
| CRM | $218.87 | 6 | $210.43 | -$8.44 | -3.86% |
| PHM | $66.69 | 23 | $77.32 | $10.63 | 15.94% |
| AMD | $125.27 | 3 | $111.24 | -$14.03 | -11.20% |
| ALGN | $284.95 | 3 | $341.79 | $56.84 | 19.95% |
| FTNT | $68.54 | 14 | $75.09 | $6.55 | 9.56% |
| CPRT | $88.60 | 10 | $90.26 | $1.66 | 1.87% |
| FDX | $226.14 | 8 | $249.98 | $23.84 | 10.54% |
| CDNS | $234.75 | 3 | $228.54 | -$6.21 | -2.65% |
| CMG | $2,071.28 | 1 | $2,110.60 | $39.32 | 1.90% |
| ANSS | $329.16 | 3 | $326.05 | -$3.11 | -0.94% |
| MSFT | $331.21 | 4 | $335.05 | $3.84 | 1.16% |
| TTWO | $138.28 | 4 | $145.47 | $7.19 | 5.20% |
| LW | $109.28 | 19 | $113.89 | $4.61 | 4.22% |
| AAPL | $177.30 | 7 | $189.59 | $12.29 | 6.93% |
| Total | $21,315.08 | $22,536.77 | $1,221.69 | 5.73% |
Every quarter we promised to update our audience with the quarterly cumulative performance and since we are 6 months into the year, the following are the cumulative statistics. As it can be seen here, the US momo algorithm is underperforming the S&P500 but is tracking close to the Equal weighted returns.
Following are the cumulative statistics.
| Date | US MOMO | MOMO P&L % (Total) | S&P 500 | S&P 500 P&L % (Total) |
|---|---|---|---|---|
| 2022-12-29 | $25,000.00 | 0 | 3,849.28 | 0 |
| 2023-01-31 | $26,277.53 | 5.11% | 4,076.60 | 5.91% |
| 2023-02-28 | $25,611.62 | 2.45% | 3,970.15 | 3.14% |
| 2023-03-31 | $26,000.59 | 4.00% | 4,109.31 | 6.76% |
| 2023-04-27 | $25,412.85 | 1.65% | 4,135.35 | 7.43% |
| 2023-05-30 | $25,693.71 | 2.77% | 4,179.83 | 8.59% |
| 2023-06-29 | $26,990.65 | 7.96% | 4,396.44 | 14.21% |
As you can see, the US momo algorithm is underperforming the S&P 500 but is tracking close to the Equal weighted returns.
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| NVDA | 6/30/2023 | 2 | $408.22 | BUY* | $816.44 |
| META | 6/30/2023 | 3 | $281.53 | BUY* | $844.59 |
| AMD | 6/30/2023 | 5 | $111.24 | BUY* | $556.20 |
| PHM | 6/30/2023 | 15 | $77.32 | BUY* | $1,159.80 |
| MSFT | 6/30/2023 | 3 | $335.05 | BUY* | $1,005.15 |
| CRM | 6/30/2023 | 4 | $210.43 | BUY* | $841.72 |
| CPRT | 6/30/2023 | 23 | $90.26 | BUY* | $2,075.98 |
| GE | 6/30/2023 | 12 | $107.74 | BUY* | $1,292.88 |
| CMG | 6/30/2023 | 1 | $2,110.60 | BUY* | $2,110.60 |
| WST | 6/30/2023 | 4 | $377.36 | BUY* | $1,509.44 |
| FTNT | 6/30/2023 | 11 | $75.09 | BUY* | $825.99 |
| AAPL | 6/30/2023 | 10 | $189.59 | BUY* | $1,895.90 |
| GOOGL | 6/30/2023 | 9 | $119.10 | BUY | $1,071.90 |
| GOOG | 6/30/2023 | 9 | $120.01 | BUY | $1,080.09 |
| TTWO | 6/30/2023 | 12 | $145.47 | BUY* | $1,745.64 |
| AVGO | 6/30/2023 | 1 | $862.57 | BUY | $862.57 |
| RCL | 6/30/2023 | 10 | $101.56 | BUY | $1,015.60 |
| AMZN | 6/30/2023 | 7 | $127.90 | BUY | $895.30 |
| CDNS | 6/30/2023 | 5 | $228.54 | BUY* | $1,142.70 |
| TAP | 6/30/2023 | 28 | $65.62 | BUY | $1,837.36 |
| Total | $24,585.85 |
*Same stock symbols as the previous month. Quantity can be different. The trade date is on 06/30/2023 with the close prices as of 06/29/2023
May was yet another good month for both the US and Indian stock markets with positive performance on both the S&P500 and the Nifty500/NSE500 index. The US performance was concentrated to a few big names and the breadth has remained a bit poor lacking broad participation from all sectors. The energy sector specifically, performed poorly in the US. Other drivers for US stock market performance included the tech sector with names like NVDA and others which posted good earnings and revised future estimates. Overall the S&P index was up 1.08% Indian markets also rallied in May and had broad sector participation compared to the US. The NSE500 was up 4.59% for the month of May.
The India Momo algorithm produced very good returns for May 2023 The NSE 500 was up 4.56% for the month while India Momo algorithm was up 5.46%. A couple of stocks (ZENSARTECH.NS & EQUITASBANK.NS) produced more than 25% in returns and many others produced decent returns contributing to the overall performance. The strategy has turned a profit in our live trading account.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss per Share | Profit/Loss % |
|---|---|---|---|---|---|
| APARINDS.NS | ₹2,765.85 | 1 | ₹2,779.35 | ₹13.50 | 0.49% |
| JBMA.NS | ₹804.00 | 5 | ₹807.80 | ₹3.80 | 0.47% |
| JSL.NS | ₹280.25 | 19 | ₹293.65 | ₹13.40 | 4.78% |
| SONATSOFTW.NS | ₹838.05 | 3 | ₹971.75 | ₹133.70 | 15.95% |
| FINCABLES.NS | ₹876.90 | 8 | ₹800.95 | ₹-75.95 | -8.66% |
| FACT.NS | ₹341.40 | 6 | ₹300.55 | ₹-40.85 | -11.97% |
| POLICYBZR.NS | ₹581.25 | 9 | ₹605.95 | ₹24.70 | 4.25% |
| NCC.NS | ₹116.20 | 57 | ₹119.25 | ₹3.05 | 2.62% |
| CYIENT.NS | ₹1,166.35 | 4 | ₹1,297.90 | ₹131.55 | 11.28% |
| OIL.NS | ₹256.85 | 21 | ₹257.25 | ₹0.40 | 0.16% |
| LINDEINDIA.NS | ₹3,916.40 | 2 | ₹3,956.20 | ₹39.80 | 1.02% |
| EQUITASBNK.NS | ₹68.90 | 62 | ₹86.40 | ₹17.5 | 25.40% |
| GPPL.NS | ₹109.80 | 44 | ₹107.50 | ₹-2.30 | -2.09% |
| ZENSARTECH.NS | ₹276.70 | 22 | ₹369.65 | ₹92.95 | 33.59% |
| PFC.NS | ₹164.85 | 31 | ₹182.40 | ₹17.55 | 10.65% |
| KPITTECH.NS | ₹919.55 | 3 | ₹1,063.05 | ₹143.50 | 15.61% |
| MAHINDCIE.NS | ₹406.80 | 10 | ₹454.35 | ₹47.55 | 11.69% |
| CARBORUNIV.NS | ₹1,057.75 | 6 | ₹1,150.05 | ₹92.30 | 8.73% |
| BLUESTARCO.NS | ₹1,468.10 | 5 | ₹1,441.90 | ₹-26.20 | -1.78% |
| AEGISCHEM.NS | ₹391.50 | 11 | ₹358.45 | ₹-33.05 | -8.44% |
| Total | ₹98,555.95 | ₹103,939.80 | 5.46% |
We will continue to maintain the capital allocation at ₹100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| JBMA.NS | 05/31/2023 | 6 | ₹807.80 | BUY* | ₹4,846.80 |
| APARINDS.NS | 05/31/2023 | 1 | ₹2,779.35 | BUY* | ₹2,779.35 |
| FINCABLES.NS | 05/31/2023 | 8 | ₹800.95 | BUY* | ₹6,407.60 |
| SONATSOFTW.NS | 05/31/2023 | 5 | ₹971.75 | BUY* | ₹4,858.75 |
| ANURAS.NS | 05/31/2023 | 4 | ₹1,166.00 | BUY | ₹4,664.00 |
| CYIENT.NS | 05/31/2023 | 3 | ₹1,297.90 | BUY* | ₹3,893.70 |
| ZENSARTECH.NS | 05/31/2023 | 7 | ₹369.65 | BUY* | ₹ ,587.55 |
| NCC.NS | 05/31/2023 | 24 | ₹119.25 | BUY* | ₹2,862.00 |
| EQUITASBNK.NS | 05/31/2023 | 58 | ₹86.40 | BUY* | ₹5,011.20 |
| POLICYBZR.NS | 05/31/2023 | 11 | ₹605.95 | BUY* | ₹6,665.45 |
| KPITTECH.NS | 05/31/2023 | 5 | ₹1,063.05 | BUY* | ₹5,315.25 |
| TRITURBINE.NS | 05/31/2023 | 9 | ₹399.50 | BUY | ₹3,595.50 |
| AUROPHARMA.NS | 05/31/2023 | 7 | ₹658.60 | BUY | ₹4,610.20 |
| CERA.NS | 05/31/2023 | 1 | ₹ 7,521.25 | BUY | ₹7,521.25 |
| PAYTM.NS | 05/31/2023 | 8 | ₹ 697.35 | BUY | ₹5,578.80 |
| JSL.NS | 05/31/2023 | 15 | ₹293.65 | BUY* | ₹4,404.75 |
| INGERRAND.NS | 05/31/2023 | 2 | ₹2,737.80 | BUY | ₹5,475.60 |
| INDIAMART.NS | 05/31/2023 | 1 | ₹5,580.55 | BUY | ₹5,580.55 |
| ABB.NS | 05/31/2023 | 2 | ₹4,125.90 | BUY | ₹8,251.80 |
| DATAPATTNS.NS | 05/31/2023 | 3 | ₹1,689.10 | BUY | ₹5,067.30 |
| Cash | ₹ 20.60 | ||||
| Total | ₹ 99,979.40 |
For the month of May, the S&P 500 index was up 1.08%. The tech sector was the reason for most of the gains and the US momo algorithm had quite a few of them (META, NVDA, CRM, AMD). All the tech names were up more than 10% and contributed to the outperformance of the momentum algorithm which returned slightly above the index at 1.15% for the month.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss | Profit/Loss % |
|---|---|---|---|---|---|
| META | $238.56 | 2 | $264.72 | $26.16 | 10.97% |
| NVDA | $272.26 | 4 | $378.34 | $106.08 | 38.96% |
| ALGN | $317.73 | 2 | $282.66 | $-35.07 | -11.04% |
| WST | $355.22 | 4 | $334.63 | $-20.59 | -5.80% |
| GE | $98.06 | 15 | $101.53 | $3.47 | 3.54% |
| WYNN | $110.22 | 10 | $98.70 | $-11.52 | -10.45% |
| PHM | $66.27 | 21 | $66.08 | $-0.19 | -0.29% |
| BKNG | $2,639.44 | 1 | $2,508.77 | $-130.67 | -4.95% |
| ANSS | $315.00 | 5 | $323.59 | $8.59 | 2.73% |
| FDX | $225.94 | 8 | $217.98 | $-7.96 | -3.52% |
| LVS | $62.22 | 16 | $55.13 | -$7.09 | -11.40% |
| CDNS | $207.86 | 6 | $230.91 | $23.05 | 11.09% |
| MKTX | $313.16 | 2 | $272.41 | $-40.75 | -13.01% |
| AMD | $87.44 | 11 | $118.21 | $30.77 | 35.19% |
| MPWR | $448.61 | 2 | $489.91 | $41.30 | 9.21% |
| FSLR | $200.83 | 4 | $202.96 | $2.13 | 1.06% |
| XRAY | $41.36 | 44 | $36.12 | $-5.24 | -12.67% |
| SYK | $298.22 | 7 | $275.58 | $-22.64 | -7.59% |
| CRM | $195.94 | 7 | $223.38 | $27.44 | 14.00% |
| Total | $24,419.57 | $24,710.16 | $281.59 | 1.15% |
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| META | 05/30/2023 | 5 | $262.52 | BUY* | $1,312.60 |
| NVDA | 05/30/2023 | 1 | $401.11 | BUY* | $401.11 |
| WST | 05/30/2023 | 5 | $336.35 | BUY | $1,681.75 |
| GE | 05/30/2023 | 12 | $102.40 | BUY* | $1,228.80 |
| CRM | 05/30/2023 | 6 | $218.87 | BUY* | $1,313.22 |
| PHM | 05/30/2023 | 23 | $66.69 | BUY* | $1,533.87 |
| AMD | 05/30/2023 | 3 | $125.27 | BUY* | $375.81 |
| ALGN | 05/30/2023 | 3 | $284.95 | BUY* | $854.85 |
| FTNT | 05/30/2023 | 14 | $68.54 | BUY | $959.56 |
| CPRT | 05/30/2023 | 10 | $88.60 | BUY | $886.00 |
| FDX | 05/30/2023 | 8 | $226.14 | BUY* | $1,809.12 |
| CDNS | 05/30/2023 | 3 | $234.75 | BUY* | $704.25 |
| CMG | 05/30/2023 | 1 | $2,071.28 | BUY | $2,071.28 |
| ANSS | 05/30/2023 | 3 | $329.16 | BUY* | $987.48 |
| MSFT | 05/30/2023 | 4 | $331.21 | BUY | $1,324.84 |
| TTWO | 05/30/2023 | 4 | $138.28 | BUY | $553.12 |
| LW | 05/30/2023 | 19 | $109.28 | BUY | $2,076.32 |
| AAPL | 05/30/2023 | 7 | $177.30 | BUY | $1,241.10 |
| Cash | $3,684.82 | ||||
| Total | $21,315.18 |
April was a good month for both the Indian and US markets with the overall performance being positive. This positive performance in the US was a result of some of the big company earnings as well as economic data including the PCE and GDP. Banking in the US continues to undergo changes with the latest news on First Republic Bank. Indian markets were up more than 3% for the month of April with participation from a majority of the sectors.
The India Momo algorithm produced phenomenal returns for the month of April by almost tripling the returns produced by the index. The NSE 500 was up 3.55% for the month while India Momo algorithm was up 9.05%. A couple of stocks (RVNL.NS & FACT.NS) produced more than 50% in returns and many others produced decent returns contributing to the overall 9%+ performance. As we live trade this strategy, we closed out the rights issue of Punjab National Bank Housing company.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss | Profit/Loss % |
|---|---|---|---|---|---|
| JSL.NS | ₹289.80 | 14 | ₹280.25 | -₹9.55 | -3.30% |
| FACT.NS | ₹205.40 | 17 | ₹341.40 | ₹136.00 | 66.21% |
| UCOBANK.NS | ₹24.30 | 146 | ₹28.50 | ₹4.20 | 17.28% |
| SONATSOFTW.NS | ₹836.30 | 4 | ₹838.05 | ₹1.75 | 0.21% |
| JBMA.NS | ₹644.00 | 6 | ₹804.00 | ₹160.00 | 24.84% |
| FINCABLES.NS | ₹812.60 | 5 | ₹876.90 | ₹64.30 | 7.91% |
| NCC.NS | ₹106.10 | 56 | ₹116.20 | ₹10.10 | 9.52% |
| RVNL.NS | ₹68.60 | 54 | ₹103.20 | ₹34.60 | 50.44% |
| PNBHOUSING.NS | ₹513.15 | 6 | ₹446.00 | -₹67.15 | -13.09% |
| PNB-RE-BE (sold 04/24) | ₹0.00 | 3 | ₹146.00 | ₹146.00 | NA |
| SYMPHONY.NS | ₹1,014.15 | 6 | ₹982.45 | -₹31.70 | -3.13% |
| EQUITASBNK.NS | ₹67.10 | 53 | ₹68.90 | ₹1.80 | 2.68% |
| CYIENT.NS | ₹995.25 | 7 | ₹1,166.35 | ₹171.10 | 17.19% |
| AEGISCHEM.NS | ₹378.95 | 11 | ₹391.50 | ₹12.55 | 3.31% |
| MAHINDCIE.NS | ₹350.80 | 12 | ₹406.80 | ₹56.00 | 15.96% |
| GPPL.NS | ₹116.45 | 63 | ₹109.80 | -₹6.65 | -5.71% |
| POLICYBZR.NS | ₹638.90 | 7 | ₹581.25 | -₹57.65 | -9.02% |
| SUPREMEIND.NS | ₹2,513.55 | 3 | ₹2,647.10 | ₹133.55 | 5.31% |
| BLUESTARCO.NS | ₹1,379.15 | 5 | ₹1,468.10 | ₹88.95 | 6.45% |
| LINDEINDIA.NS | ₹4,029.85 | 1 | ₹3,916.40 | -₹113.45 | -2.82% |
| JINDALSTEL.NS | ₹546.20 | 12 | ₹579.45 | ₹33.25 | 6.09% |
| Total | ₹96,909.20 | ₹105,679.70 | ₹8,770.50 | 9.05% |
We will continue to maintain the capital allocation at ₹100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| APARINDS.NS | 04/30/2023 | 1 | ₹2,765.85 | BUY | ₹2,765.85 |
| JBMA.NS | 04/30/2023 | 5 | ₹804.00 | BUY* | ₹4,020.00 |
| JSL.NS | 04/30/2023 | 19 | ₹280.25 | BUY* | ₹5,324.75 |
| SONATSOFTW.NS | 04/30/2023 | 3 | ₹838.05 | BUY* | ₹2,514.15 |
| FINCABLES.NS | 04/30/2023 | 8 | ₹876.90 | BUY* | ₹7,015.20 |
| FACT.NS | 04/30/2023 | 6 | ₹341.40 | BUY* | ₹2,048.40 |
| POLICYBZR.NS | 04/30/2023 | 9 | ₹581.25 | BUY* | ₹5,231.25 |
| NCC.NS | 04/30/2023 | 57 | ₹116.20 | BUY* | ₹6,623.40 |
| CYIENT.NS | 04/30/2023 | 4 | ₹1,166.35 | BUY* | ₹4,665.40 |
| OIL.NS | 04/30/2023 | 21 | ₹256.85 | BUY | ₹5,393.85 |
| LINDEINDIA.NS | 04/30/2023 | 2 | ₹3,916.40 | BUY* | ₹7,832.80 |
| EQUITASBNK.NS | 04/30/2023 | 62 | ₹68.90 | BUY | ₹4,271.80 |
| GPPL.NS | 04/30/2023 | 44 | ₹109.80 | BUY* | ₹4,831.20 |
| ZENSARTECH.NS | 04/30/2023 | 22 | ₹276.70 | BUY | ₹6,087.40 |
| PFC.NS | 04/30/2023 | 31 | ₹164.85 | BUY | ₹5,110.35 |
| KPITTECH.NS | 04/30/2023 | 3 | ₹919.55 | BUY | ₹2,758.65 |
| MAHINDCIE.NS | 04/30/2023 | 10 | ₹406.80 | BUY* | ₹4,068.00 |
| CARBORUNIV.NS | 04/30/2023 | 6 | ₹1,057.75 | BUY | ₹6,346.50 |
| BLUESTARCO.NS | 04/30/2023 | 5 | ₹1,468.10 | BUY* | ₹7,340.50 |
| AEGISCHEM.NS | 04/30/2023 | 11 | ₹391.50 | BUY | ₹4,306.50 |
| Cash | ₹1,444.05 | ||||
| Total | ₹98,555.95 |
For the month of April, the S&P 500 index was up 0.63%. Most of the gains were dominated by stocks that were outside the US momentum algorithm’s list. Most of the gains in the market came from stocks which posted good earnings and provided good guidance (Ex: Meta, Microsoft etc.). The US Momo algorithm did not perform well in April due to choppy market conditions and produced a return of -2.28% underperforming the index.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss | Profit/Loss % |
|---|---|---|---|---|---|
| NVDA | $277.77 | 4 | $272.26 | -$5.51 | -1.98% |
| WYNN | $111.91 | 12 | $110.22 | -$1.69 | -1.51% |
| MKTX | $391.29 | 3 | $313.16 | -$78.13 | -19.97% |
| GE | $95.60 | 12 | $98.06 | $2.46 | 2.57% |
| ALGN | $334.14 | 3 | $317.73 | -$16.41 | -4.91% |
| META | $211.94 | 4 | $238.56 | $26.62 | 12.56% |
| LVS | $57.45 | 21 | $62.22 | $4.77 | 8.30% |
| BKNG | $2,652.41 | 1 | $2,639.44 | -$12.97 | -0.49% |
| PHM | $58.28 | 33 | $66.27 | $7.99 | 13.71% |
| BA | $212.43 | 5 | $206.04 | -$6.39 | -3.01% |
| MPWR | $500.54 | 2 | $448.61 | -$51.93 | -10.37% |
| FSLR | $217.50 | 6 | $200.83 | -$16.67 | -7.66% |
| URI | $395.76 | 2 | $357.66 | -$38.10 | -9.63% |
| ANSS | $332.80 | 5 | $315.00 | -$17.80 | -5.35% |
| FDX | $228.49 | 4 | $225.94 | -$2.55 | -1.12% |
| AMD | $98.01 | 9 | $87.44 | -$10.57 | -10.78% |
| AVGO | $641.54 | 3 | $618.41 | -$23.13 | -3.61% |
| BWA | $49.11 | 25 | $47.64 | -$1.47 | -2.99% |
| IDXX | $500.08 | 2 | $484.62 | -$15.46 | -3.09% |
| SWKS | $117.98 | 6 | $103.91 | -$14.07 | -11.93% |
| Total | $24,887.56 | $24,320.65 | -$566.91 | -2.28% |
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| META | 04/30/2023 | 2 | $238.56 | BUY* | $477.12 |
| NVDA | 04/30/2023 | 4 | $272.26 | BUY* | $1,089.04 |
| ALGN | 04/30/2023 | 2 | $317.73 | BUY | $635.46 |
| WST | 04/30/2023 | 4 | $355.22 | BUY | $1,420.88 |
| GE | 04/30/2023 | 15 | $98.06 | BUY* | $1,470.90 |
| WYNN | 04/30/2023 | 10 | $110.22 | BUY* | $1,102.20 |
| PHM | 04/30/2023 | 21 | $66.27 | BUY* | $1,391.67 |
| BKNG | 04/30/2023 | 1 | $2,639.44 | BUY* | $2,639.44 |
| ANSS | 04/30/2023 | 5 | $315.00 | BUY* | $1,575.00 |
| FDX | 04/30/2023 | 8 | $225.94 | BUY* | $1,807.52 |
| LVS | 04/30/2023 | 16 | $62.22 | BUY* | $995.52 |
| CDNS | 04/30/2023 | 6 | $207.86 | BUY | $1,247.16 |
| MKTX | 04/30/2023 | 2 | $313.16 | BUY* | $626.32 |
| AMD | 04/30/2023 | 11 | $87.44 | BUY* | $961.84 |
| MPWR | 04/30/2023 | 2 | $448.61 | BUY* | $897.22 |
| FSLR | 04/30/2023 | 4 | $200.83 | BUY* | $803.32 |
| XRAY | 04/30/2023 | 44 | $41.36 | BUY | $1,819.84 |
| SYK | 04/30/2023 | 7 | $298.22 | BUY | $2,087.54 |
| CRM | 04/30/2023 | 7 | $195.94 | BUY | $1,371.58 |
| Cash | $580.43 | ||||
| Total | $24,419.57 |
March was a very interesting month in the markets in India and the US. It was eventful in the US with the collapse of a couple of banks such as Silicon Valley Bank & Signature Bank. The world banking sector also saw a collapse of Credit Suisse. For now, the impact seems to be limited to these individual banks and it remains to be seen whether it has a broader impact. The federal reserve in the US hiked the short term interest rates by another 25bps (0.25%) with the actual rate now at 4.75% - 5%.
Indian markets were essentially flat in the month of March but a few sectors (Banking) underperformed.
The India Momo algorithm lost a small amount for the month of March 2023. The overall market was up slightly and we can qualify that as a flat market. There were a few big winners in the momentum list but there were also a few big losers and overall the algorithm managed to lose only 0.53% while the index was up 0.27%.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss | Profit/Loss % |
|---|---|---|---|---|---|
| UCOBANK.NS | ₹25.90 | 148 | ₹24.30 | (₹1.60) | -6.18% |
| FACT.NS | ₹234.15 | 14 | ₹205.40 | (₹28.75) | -12.28% |
| JSL.NS | ₹267.00 | 18 | ₹289.80 | ₹22.80 | 8.54% |
| RVNL.NS | ₹57.45 | 64 | ₹68.60 | ₹11.15 | 19.41% |
| UNIONBANK.NS | ₹67.25 | 85 | ₹66.55 | (₹0.70) | -1.04% |
| MAHABANK.NS | ₹25.50 | 233 | ₹24.75 | (₹0.75) | -2.94% |
| BANKINDIA.NS | ₹70.85 | 50 | ₹74.65 | ₹3.80 | 5.36% |
| IOB.NS | ₹24.30 | 223 | ₹22.45 | (₹1.85) | -7.61% |
| GODFRYPHLP.NS | ₹1,775.50 | 2 | ₹1,819.75 | ₹44.25 | 2.49% |
| PNBHOUSING.NS | ₹597.20 | 7 | ₹513.15 | (₹84.05) | -14.07% |
| IRFC.NS | ₹26.95 | 222 | ₹26.60 | (₹0.35) | -1.30% |
| INDIANB.NS | ₹257.10 | 19 | ₹288.55 | ₹31.45 | 12.23% |
| MAZDOCK.NS | ₹719.55 | 6 | ₹663.05 | (₹56.50) | -7.85% |
| JINDALSTEL.NS | ₹549.20 | 7 | ₹546.20 | (₹3.00) | -0.55% |
| MAHINDCIE.NS | ₹424.15 | 5 | ₹350.80 | (₹73.35) | -17.29% |
| CENTRALBK.NS | ₹25.90 | 201 | ₹24.10 | (₹1.80) | -6.95% |
| JBMA.NS | ₹574.35 | 5 | ₹644.00 | ₹69.65 | 12.13% |
| PNB.NS | ₹48.35 | 110 | ₹46.60 | (₹1.75) | -3.62% |
| RBLBANK.NS | ₹155.85 | 28 | ₹141.10 | (₹14.75) | -9.46% |
| JKLAKSHMI.NS | ₹672.50 | 7 | ₹791.40 | ₹118.90 | 17.68% |
| Total | ₹87,562.35 | ₹87,096.75 | (₹465.60) | -0.53% |
Markets in India were down about 6% for the year 2023. The Momo algorithm has lost close to 12% and as our original analysis indicates, momentum stocks go up and down more than the market and following the rules of the algorithm has been shown to work in the long term.
| Date | India MOMO | P&L % (Total) | NIFTY 500 | P&L % (Total) |
|---|---|---|---|---|
| 12/29/2022 | ₹100,000.00 | 0% | 15,485.18 | 0% |
| 1/31/2023 | ₹98,800.26 | -1.2% | 14,935.50 | -3.55% |
| 2/28/2023 | ₹88,647.71 | -11.35% | 14,518.75 | -6.24% |
| 3/31/2023 | ₹88,182.11 | -11.82% | 14,557.85 | -5.99% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| JSL.NS | 3/31/2023 | 14 | ₹289.80 | BUY* | ₹4,057.20 |
| FACT.NS | 3/31/2023 | 17 | ₹205.40 | BUY* | ₹3,491.80 |
| UCOBANK.NS | 3/31/2023 | 146 | ₹24.30 | BUY* | ₹3,547.80 |
| SONASOFTW.NS | 3/31/2023 | 4 | ₹836.30 | BUY | ₹3,345.20 |
| JBMA.NS | 3/31/2023 | 6 | ₹644.00 | BUY* | ₹3,864.00 |
| FINCABLES.NS | 3/31/2023 | 5 | ₹812.60 | BUY | ₹4,063.00 |
| NCC.NS | 3/31/2023 | 56 | ₹106.10 | BUY | ₹5,941.60 |
| RVNL.NS | 3/31/2023 | 54 | ₹68.60 | BUY* | ₹3,704.40 |
| PNBHOUSING.NS | 3/31/2023 | 6 | ₹513.15 | BUY* | ₹3,078.90 |
| SYMPHONY.NS | 3/31/2023 | 6 | ₹1,014.15 | BUY | ₹6,084.90 |
| EQUITASBANK.NS | 3/31/2023 | 53 | ₹67.10 | BUY | ₹3,556.30 |
| CYIENT.NS | 3/31/2023 | 7 | ₹995.25 | BUY | ₹6,966.75 |
| AEGISCHEM.NS | 3/31/2023 | 11 | ₹378.95 | BUY | ₹4,168.45 |
| MAHINDCIE.NS | 3/31/2023 | 12 | ₹350.80 | BUY* | ₹4,209.60 |
| GPPL.NS | 3/31/2023 | 63 | ₹116.45 | BUY | ₹7,336.35 |
| POLICYBZR.NS | 3/31/2023 | 7 | ₹638.90 | BUY | ₹4,472.30 |
| SUPREMEIND.NS | 3/31/2023 | 3 | ₹2,513.55 | BUY | ₹7,540.65 |
| BLUESTARCO.NS | 3/31/2023 | 5 | ₹1,379.15 | BUY | ₹6,895.75 |
| LINDEINDIA.NS | 3/31/2023 | 1 | ₹4,029.85 | BUY | ₹4,029.85 |
| JINDALSTEL.NS | 3/31/2023 | 12 | ₹546.20 | BUY* | ₹6,554.40 |
| Cash | ₹3,090.80 | ||||
| Total | ₹96,909.20 |
The US market had a solid Q1 2023 with the S&P up 6.7% year to date. We had a few up and down days but overall the market rallied back by the end of the month as the news about the rate hike, recent PCE inflation data and the banking sector have all been digested by the market.
For the month of March, the S&P 500 index was up 3.51%. Most of the gains were due to large-cap stocks which were not in the momentum list. The US Momo algorithm produced a decent return of 1.54% but underperformed the index.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss | Profit/Loss % |
|---|---|---|---|---|---|
| WYNN | $108.37 | 12 | $111.91 | $3.54 | 3.27% |
| UHS | $133.57 | 7 | $127.1 | ($6.47) | -4.84% |
| URI | $468.53 | 3 | $395.76 | ($72.77) | -15.53% |
| LVS | $57.47 | 30 | $57.45 | ($0.02) | -0.03% |
| STLD | $126.11 | 9 | $113.06 | ($13.05) | -10.35% |
| GE | $84.71 | 22 | $95.6 | $10.89 | 12.86% |
| NVDA | $232.16 | 2 | $277.77 | $45.61 | 19.65% |
| FCX | $40.97 | 33 | $40.91 | ($0.06) | -0.15% |
| BA | $201.55 | 6 | $212.43 | $10.88 | 5.40% |
| NFLX | $322.13 | 4 | $345.48 | $23.35 | 7.25% |
| ACGL | $70.00 | 22 | $67.87 | ($2.13) | -3.04% |
| RCL | $70.64 | 13 | $65.3 | ($5.34) | -7.56% |
| MKTX | $341.45 | 3 | $391.29 | $49.84 | 14.60% |
| IDXX | $473.24 | 2 | $500.08 | $26.84 | 5.67% |
| DHI | $92.48 | 11 | $97.69 | $5.21 | 5.63% |
| CAT | $239.55 | 7 | $228.84 | ($10.71) | -4.47% |
| OMC | $90.57 | 16 | $94.34 | $3.77 | 4.16% |
| IPG | $35.54 | 40 | $37.24 | $1.70 | 4.78% |
| PHM | $54.67 | 14 | $58.28 | $3.61 | 6.60% |
| DD | $73.03 | 15 | $71.77 | ($1.26) | -1.73% |
| Total | $24532.71 | $24,910.26 | $377.55 | 1.54% |
In our last month’s update we mentioned that we will provide a quarterly cumulative update of reinvesting all the gains into the US momo strategy and the following are the results.
| Date | US MOMO | P&L % (Total) | S&P 500 | P&L % (Total) |
|---|---|---|---|---|
| 12/29/2022 | $25,000.00 | 0% | 3,849.28 | 0% |
| 1/31/2023 | $26,277.53 | 5.11% | 4,076.60 | 5.91% |
| 2/28/2023 | $25,611.62 | 2.45% | 3,970.15 | 3.14% |
| 3/31/2023 | $26,000.59 | 4% | 4,109.31 | 6.76% |
As you can see, the US Momo algorithm is up 4% while the S&P 500 is up 6.76% since we began trading.
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| NVDA | 3/31/2023 | 4 | $277.77 | BUY* | $1,111.08 |
| WYNN | 3/31/2023 | 12 | $111.91 | BUY* | $1,342.92 |
| MKTX | 3/31/2023 | 3 | $391.29 | BUY* | $1,173.87 |
| GE | 3/31/2023 | 12 | $95.60 | BUY* | $1,147.20 |
| ALGN | 3/31/2023 | 3 | $334.14 | BUY | $1,002.42 |
| META | 3/31/2023 | 4 | $211.94 | BUY | $847.76 |
| LVS | 3/31/2023 | 21 | $57.45 | BUY* | $1,206.45 |
| BKNG | 3/31/2023 | 1 | $2,652.41 | BUY | $2,652.41 |
| PHM | 3/31/2023 | 33 | $58.28 | BUY* | $1,923.24 |
| BA | 3/31/2023 | 5 | $212.43 | BUY* | $1,062.15 |
| MPWR | 3/31/2023 | 2 | $500.54 | BUY | $1,001.08 |
| FSLR | 3/31/2023 | 6 | $217.50 | BUY | $1,305.00 |
| URI | 3/31/2023 | 2 | $395.76 | BUY* | $791.52 |
| ANSS | 3/31/2023 | 5 | $332.80 | BUY | $1,664.00 |
| FDX | 3/31/2023 | 4 | $228.49 | BUY | $913.96 |
| AMD | 3/31/2023 | 9 | $98.01 | BUY | $882.09 |
| AVGO | 3/31/2023 | 3 | $641.54 | BUY | $1,924.62 |
| BWA | 3/31/2023 | 25 | $49.11 | BUY | $1,227.75 |
| IDXX | 3/31/2023 | 2 | $500.08 | BUY* | $1,000.16 |
| SWKS | 3/31/2023 | 6 | $117.98 | BUY | $707.88 |
| Cash | $112.44 | ||||
| Total | $24,887.56 |
February was a tough month in the markets for both the Indian and US stock markets. Markets are digesting information as it unfolds with most of the action in the US being driven by the economic data of inflation, bond price action and Fed speak. Indian markets are moving sideways with some sectors underperforming the index.
We are providing an update on our month-to-month executions so that new customers can look at the fresh allocations. The strategy in our live trades does a rebalance at the end of every month and tracks the cumulative performance. We will do a blog at the end of every quarter to show the cumulative performance for that quarter.
Note that many of the stocks continue to remain the same with both the S&P 500 and NIFTY 500. This means that they are still momentum stocks and their momentum is still intact as per the algorithm. So we will continue to monitor them.
The market in India has been down about 2.8% from the end of January 2023 and India’s Momo algorithm is down by more than 10.9%. While the algorithm outperformed the index in January, it underperformed significantly in February. One of the reasons is the concentration of the positions across the banking sector. While the market and the index remained choppy at best, the momentum algorithm was in stocks of the banking sector which declined significantly (> 10% loss) in the month of February. This contributed to the vast underperformance of the algorithm. Notably, only two of the algo’s positions were up for the whole month and they were JSL and RHIM.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss | Profit/Loss % |
|---|---|---|---|---|---|
| RVNL.NS | INR 76.10 | 48 | INR 57.45 | (₹18.65) | -24.51% |
| MAZDOCK.NS | INR 793.25 | 5 | INR 719.55 | (₹73.70) | -9.29% |
| FACT.NS | INR 297.60 | 9 | INR 234.15 | (₹63.45) | -21.32% |
| UNIONBANK.NS | INR 78.50 | 63 | INR 67.25 | (₹11.25) | -14.33% |
| JSL.NS | INR 254.65 | 27 | INR 267.00 | ₹12.35 | 4.85% |
| BANKINDIA.NS | INR 82.70 | 46 | INR 70.85 | (₹11.85) | -14.33% |
| MAHABANK.NS | INR 30.40 | 114 | INR 25.50 | (₹4.90) | -16.12% |
| GODFRYPHLP.NS | INR 1,923.20 | 2 | INR 1,775.50 | (₹147.70) | -7.68% |
| IOB.NS | INR 28.45 | 137 | INR 24.30 | (₹4.15) | -14.59% |
| CENTRALBK.NS | INR 30.05 | 154 | INR 25.90 | (₹4.15) | -13.81% |
| IRFC.NS | INR 33.05 | 157 | INR 26.95 | (₹6.10) | -18.46% |
| PNB.NS | INR 53.55 | 79 | INR 48.35 | (₹5.20) | -9.71% |
| INDIANB.NS | INR 304.75 | 19 | INR 257.10 | (₹47.65) | -15.64% |
| KARURVYSYA.NS | INR 107.20 | 60 | INR 102.00 | (₹5.20) | -4.85% |
| JKLAKSHMI.NS | INR 735.70 | 9 | INR 672.50 | (₹63.20) | -8.59% |
| RAYMOND.NS | INR 1,525.60 | 4 | INR 1,271.30 | (₹254.30) | -16.67% |
| RBLBANK.NS | INR 155.75 | 29 | INR 155.85 | ₹0.10 | 0.06% |
| KALYANKJIL.NS | INR 117.95 | 25 | INR 113.65 | (₹4.30) | -3.65% |
| JINDALSTEL.NS | INR 583.55 | 13 | INR 549.20 | (₹34.35) | -5.89% |
| RHIM.NS | INR 778.85 | 8 | INR 640.70 | (₹138.15) | -17.74% |
| Total | INR 97,407.75 | INR 86,762.75 | (₹10,645.00) | -10.93% |
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| UCOBANK.NS | 2/28/2023 | 166 | INR 25.90 | BUY | INR 4,299.40 |
| FACT.NS | 2/28/2023 | 14 | INR 234.15 | BUY* | INR 3,278.10 |
| JSL.NS | 2/28/2023 | 19 | INR 267.00 | BUY | INR 5,073.00 |
| RVNL.NS | 2/28/2023 | 72 | INR 57.45 | BUY* | INR 4,136.40 |
| UNIONBANK.NS | 2/28/2023 | 95 | INR 67.25 | BUY* | INR 6,388.75 |
| MAHABANK.NS | 2/28/2023 | 245 | INR 25.50 | BUY* | INR 6,247.50 |
| BANKINDIA.NS | 2/28/2023 | 55 | INR 70.85 | BUY* | INR 3,896.75 |
| IOB.NS | 2/28/2023 | 240 | INR 24.30 | BUY | INR 5,832.00 |
| GODFRYPHLP.NS | 2/28/2023 | 1 | INR 1,775.50 | BUY* | INR 1,775.50 |
| PNBHOUSING.NS | 2/28/2023 | 7 | INR 597.20 | BUY | INR 4,180.40 |
| IRFC.NS | 2/28/2023 | 235 | INR 26.95 | BUY* | INR 6,333.25 |
| INDIANB.NS | 2/28/2023 | 18 | INR 257.10 | BUY | INR 4,627.80 |
| MAZDOCK.NS | 2/28/2023 | 5 | INR 719.55 | BUY* | INR 3,597.75 |
| JINDALSTEL.NS | 2/28/2023 | 6 | INR 549.20 | BUY | INR 3,295.20 |
| MAHINDCIE.NS | 2/28/2023 | 5 | INR 424.15 | BUY | INR 2,120.75 |
| CENTRALBK.NS | 2/28/2023 | 215 | INR 25.90 | BUY* | INR 5,568.50 |
| JBMA.NS | 2/28/2023 | 4 | INR 574.35 | BUY | INR 2,297.40 |
| PNB.NS | 2/28/2023 | 120 | INR 48.35 | BUY* | INR 5,802.00 |
| RBLBANK.NS | 2/28/2023 | 28 | INR 155.85 | BUY* | INR 4,363.80 |
| JKLAKSHMI.NS | 2/28/2023 | 7 | INR 672.50 | BUY* | INR 4,707.50 |
| Cash | INR 1,164.06 | ||||
| Total | INR 87,821.75 |
The market in the US has been down 3.6% from January when we performed our last rebalance. Our US momo algorithm is also down but by only 1.6% which is a 2% outperformance for the month of February 2023. While a majority of the momentum stocks were down, due to our risk parity allocation, the overall portfolio performed well and did not lose as much as the index.
| Stock Symbol | Purchase Price | Number of shares | Current Price | Profit/Loss | Profit/Loss % |
|---|---|---|---|---|---|
| BA | $233.00 | 2 | $201.55 | ($31.45) | -13.50% |
| UHS | $148.21 | 5 | $133.57 | ($14.64) | -9.88% |
| WYNN | $103.64 | 8 | $108.37 | $4.73 | 4.56% |
| FCX | $44.62 | 37 | $40.97 | ($3.65) | -8.18% |
| MRNA | $176.06 | 2 | $138.81 | ($37.25) | -21.16% |
| LVS | $59.00 | 29 | $57.47 | ($1.53) | -2.59% |
| MKTX | $363.85 | 1 | $341.45 | ($22.40) | -6.16% |
| TPR | $45.57 | 51 | $43.51 | ($2.06) | -4.52% |
| GE | $80.48 | 17 | $84.15 | $3.66 | 4.55% |
| CAT | $252.29 | 3 | $239.55 | ($12.74) | -5.05% |
| URI | $440.95 | 2 | $467.74 | $26.79 | 6.08% |
| ROST | $118.19 | 10 | $110.54 | ($7.65) | -6.47% |
| NKE | $127.33 | 7 | $118.79 | ($8.54) | -6.71% |
| DD | $73.95 | 23 | $73.03 | ($0.92) | -1.24% |
| IDXX | $480.50 | 2 | $473.24 | ($7.26) | -1.51% |
| DHI | $98.69 | 11 | $92.48 | ($6.21) | -6.29% |
| ACGL | $64.35 | 38 | $70.00 | $5.65 | 8.78% |
| STLD | $120.64 | 6 | $126.11 | $5.47 | 4.53% |
| IPG | $36.46 | 109 | $35.54 | ($0.92) | -2.52% |
| NVDA | $195.37 | 3 | $232.16 | $36.79 | 18.83% |
| Total | $24,995.12 | $24,610.49 | ($384.64) | -1.54% |
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
| Stock Symbol | Date | Number of Shares | Price per Share | BUY/SELL | Total |
|---|---|---|---|---|---|
| WYNN | 2/28/2023 | 12 | $108.37 | BUY* | $1,300.44 |
| UHS | 2/28/2023 | 7 | $133.57 | BUY* | $934.99 |
| URI | 2/28/2023 | 3 | $468.53 | BUY* | $1,405.59 |
| LVS | 2/28/2023 | 30 | $57.47 | BUY* | $1,724.10 |
| STLD | 2/28/2023 | 9 | $126.11 | BUY* | $1,134.99 |
| GE | 2/28/2023 | 22 | $84.71 | BUY* | $1,863.62 |
| NVDA | 2/28/2023 | 2 | $232.16 | BUY* | $464.32 |
| FCX | 2/28/2023 | 33 | $40.97 | BUY* | $1,352.01 |
| BA | 2/28/2023 | 6 | $201.55 | BUY* | $1,209.30 |
| NFLX | 2/28/2023 | 4 | $322.13 | BUY | $1,288.52 |
| ACGL | 2/28/2023 | 22 | $70.00 | BUY* | $1,540.00 |
| RCL | 2/28/2023 | 13 | $70.64 | BUY | $918.32 |
| MKTX | 2/28/2023 | 3 | $341.45 | BUY* | $1,024.35 |
| IDXX | 2/28/2023 | 2 | $473.24 | BUY* | $946.48 |
| DHI | 2/28/2023 | 11 | $92.48 | BUY* | $1,017.28 |
| CAT | 2/28/2023 | 7 | $239.55 | BUY* | $1,676.85 |
| OMC | 2/28/2023 | 16 | $90.57 | BUY | $1,449.12 |
| IPG | 2/28/2023 | 40 | $35.54 | BUY* | $1,421.60 |
| PHM | 2/28/2023 | 14 | $54.67 | BUY | $765.38 |
| DD | 2/28/2023 | 15 | $73.03 | BUY* | $1,095.45 |
| Cash | $1,137.03 | ||||
| Total | $24,532.71 |
Wishing all our followers, a very happy new year 2023! Wow, what a start to the new year. Both the US and the Indian stock markets are going up considerably and it is a good time to update you all on the performance we are seeing.
We will continue to maintain the capital allocation at INR 100000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
The market in the US has been up 5.9% from the end of the year when we placed the trades. Our US momo algorithm is also up 4.36% with a handful of names returning more than the market (>10% returns as you will see in the table below). A few names have not moved much and we did not have any big losers (>5% loss) in the momentum portfolio.
We will continue to maintain the capital allocation at $25000. The computations of the account values are shown below followed by the trades in the accounts. Some of the positions had to be re-adjusted in our live accounts due to some stocks being the same due to the algorithm. We will include compounding and rebalancing in our future blogs.
The QuantMomo team started trading the momentum strategies live in their accounts in both India and the US. The trades were placed on the closing of December 29th. The following is the portfolio of positions along with details of the portfolio value on December 30th.
We will provide updates on our future trades of the above strategy on the day we place trades so that you can follow it LIVE going forward. We will provide a few key metrics including the performance of the Index and the strategy.
Stay Tuned!
