Analysis: CHPT GLD

After you receive this alert we will sell 1,000 shares of ChargePoint (CHPT)  at approximately $16.25 per share. This will bring our share ownership down to 9,000, approximately 4% of the portfolio.

In addition, we will add 100 shares of SPDR Gold Shares  (GLD) at approximately $166.60, bringing our total to 312 shares, nearly 1.5% of the portfolio.

ChargePoint has been a horse lately, rising more than 100% since bottoming in May. At this point, we want to trim some off as the stock is our largest holding in the AAP portfolio.

With the soon to be passed energy/inflation reduction bill, that could be a 'sell the news' event. We like to take profits when given the chance, and this nice run allows that to happen. Our last purchase in CHPT was on June 13 when we added 1,135 shares at $12.25.

Our current average price of the holding is $15.46. Earlier today we put together a chart/analysis of CHPT. 

As for GLD, we see gold up again today on very solid volume. A move above $168 on the GLD will start a strong breakout chance with room to run towards $180.

Given inflation news out later this week and weakness in the dollar, we like this to make its move upward. We'll continue to look for more opportunities to add GLD down the road.