New Covestor model manager Steve Beamer uses a fundamental and technical approach to investing. He made his first stock purchase back in the 1980s and for the past decade has mostly focused on options trading.
On his website, Trading for Yourself, Steve addresses his history with investing,
I have been trading my own account for 20+ years. The first ten years of my trading felt more like a hobby than a money making activity. I know many people go through the same trials and tribulations I did; gurus and advisors, brokers, subscription services, options, futures, stocks. I finally found the right combination of things that worked for me and I started making money trading. I made decent returns for several years and then I really upped my game dramatically.
Steve’s model with Covestor is High Earnings Momentum and his goal within the model is to find stocks that have the potential to move significantly within 2-4 months of purchase. In his January 2011 investment report he states:
Overall the portfolio had a relatively flat month with some decent gains balanced against weak performance by ARUN, CSTR, JOBS and NFLX. I will be looking for ARUN to move upwards or stop us out in the near future or I will sell it and move on. My other positions are looking fine and as I find good stocks to buy, I will sell the TQQQ and invest in individual stocks.
The current top holding in the model is Pride International (NYSE: PDE). This week, PDE announced that they had accepted delivery of a third deepwater drillship. This ship is said to become part of a five year contract with a subsidiary of Petroleo Brasileiro. This does not ease concerns over the state of domestic deepwater drilling in 2011, especially since no new drilling permits have yet been issued for the year.
