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This fund produced double-digit returns in the past month while the market tanked. What are its top stock holdings, and are they worth picking up? Let's look at the data - these are the stocks. Let me analyze them for you and see if they're worth buying into now.
Amphistar Pharmaceuticals
I know it's overbought, peaked, and likely to go through a downward drift. After those rises, what more do you want me to tell you? Not least because here's the I see a little other clue I'm going to give you, which you'll really like. September is generally a stinker for this stock, so even though it might be a longer-term buy, I think you're looking at this happening, so you might as well wait. Yes, it's undervalued. All of these things are positive, but in the short term, no, I'd rather wait.
e.l.f. Beauty
Here's another one where I'm afraid I'd rather wait, although you know there are many attractive things about it. But September is a stinker for it, and it's overbought. It's likely to do that I'm also than not. I might be wrong, but I don't think I am. So, while that's what you think will happen, I'm not sure that will be the case. I'd rather wait a couple of months, and it is undervalued, and these are some positive things.
Super Micro Computer
How about Super Micro Computer? Again, overbought after that massive run-up, and that's where the run-ups come. Now everybody's taking a breather; I think this will take a breather. So I'd rather wait a couple of months even though there's some pretty good positive stuff there, and it's undervalued. So there are some positives. I'm not in the mood to get in now.
Axcelis Technology
I've liked and bought in the past and held as well, but it now looks like it's given me this great return since the start of the year. It's unlike the others to get over-bought now. This is a common theme with many stocks that the funds continue liking them. They've given us great returns since the start of the year. It's less undervalued now, so I'm getting near the point where I've got to sell out of that one, too.
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Encore Wire Corporation
What about Encore Wire? That does look like it's going to go in that direction, and again, while it helped this exchange-traded fund do rather well so far this year. The best might be behind it. Oh my God, look at that, it's going to kill you, isn't it?
Atkore Inc
What about Atkore? No overboard again, now it doesn't mean just because it's up here, it can't keep sorry, yes, it does all right, just in case you're going to get excited. When that is up near there, this isn't going to go higher in the next month or two. So there you go. It isn't clear-cut, even though it's undervalued and might be good later in the year. Okay, we'll keep an eye on it.
Mueller Industries
What about Miller Industries? Now I've liked this in the past you've seen. I've liked it in the past because you can see that I've already drawn doodles there before. But it's now overbought, and yes, it had looked overbought up here. Indeed, it went downwards for a bit, so let's see if it holds on to that. But it's not one I'd be excited to get into right now, I'm afraid. Even though it is significantly undervalued, I am happy to keep it on a watch list, but not one right now, and I'm looking at this date on the 28th of August.
Otter Tail Corporation
What about that Otter Tail? Again, they all look interesting, but when that's happened before, this is what's happened. Okay, it can crash and burn. However, Septembers are rather good for it. So again, it's worth watching. But it is overvalued, so you better be careful with that one.
Green Brick Partners Inc
Green brick is again overbought, I'm afraid, so it's different from what I'd want to get into right now. Even though it is massively undervalued according to discount cash flow, you should keep an eye on it for the next couple of months and maybe something worth revisiting.
Taylor Morrison Home
Look at this same again. That's why this fund has done so well this year, including last month. But now that tide seems to be turning even though some of the funds are saying hold, none are saying sell, but that's the direction. So, it's not one for me, and it's pretty much undervalued anyway.
Hopefully, you like that; check alpeshpatel.com/links if you just want to see some analysis from a hedge fund manager.
Alpesh Patel OBE
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