The stock carrying our portfolio just got more interesting

Today's market and our positions

CRNX didn't move today. Fourteen positions, all entered between $83.93 and $84.99, all sitting at exactly +0.00% while SPY climbed nearly a percent. That's not a typo — the stock flatlined while the broader market ticked higher, which means most of those positions are now running negative alpha on the day. Sixty-four days in on the oldest lot, and we're still waiting. TEAM, on the other hand, is doing exactly what a Relative Strength Engine pick is supposed to do: up 8.86% on the day-29 entry, 7.78% on day 28, and 5.09% on the newest lot from day 7. Three positions, all green, all outpacing SPY. That's the counterweight keeping the overall scoreboard in positive territory — and right now, we need it.

What our open trades are doing

TEAM (NASDAQ: TEAM) has been the quiet anchor of this portfolio for about a month. The Relative Strength Engine flagged it because it was holding better than the market on down days and responding faster on up days. That pattern is still playing out: the stock sits at $195.79 across all three entries, with the spread between TEAM's return and SPY's running at +6.91%, +5.23%, and +3.36% in alpha terms — meaningful, and growing. We're not calling a top, but those gains have our full attention. Elsewhere, the picture gets murkier. HURN is down -1.44% against SPY's +1.70% on a nine-day hold — a position that needs to prove itself soon. HTFL is in a similar spot: -2.24% on day 8, underperforming by 4.15 points. Neither has hit a stop, but neither is doing what we hired it to do. RNG entered just yesterday and is already -1.14%. One day is noise — but it opened into a flat tape and still gave back ground. Worth watching.

Today's closed trades, post-mortem

CAI closed in two lots today, both stopped out. The day-6 position entered at $28.63 and exited at $26.09 — a loss of -8.89%, or -9.87% in alpha. The day-3 position entered at $29.20 and stopped at $26.42 — -9.50%, alpha -9.81%. Neither close was a surprise by the time it hit; the stock had been deteriorating, and the Relative Strength Engine's thesis — that CAI would hold while the market moved — clearly didn't play out. The stops did their job. They capped the damage. Cold comfort, but real. Two losses in one afternoon is a rough stretch, and the win rate on closed trades stays at 0/23 — a number we keep flagging because it will eventually resolve one way or another. The overall system is still +3.3% with +3.3% alpha over 68 days, so the open-position gains are carrying the scoreboard. But closed trades are where the receipts are. Right now, every one of those receipts is red.

What could change by tomorrow's open

The CRNX pile is the thing worth watching tomorrow. Fourteen lots, all flatlined, all accumulating negative alpha against a market that keeps grinding higher. If SPY continues to rally and CRNX stays stuck, those alpha figures keep getting worse. The individual P&L numbers look okay on price alone — most are slightly positive — but relative performance is the Engine's scorecard, and on that measure, CRNX is losing ground every session it sits still. HURN and HTFL both need to show something soon. If they keep lagging into a rising tape, they become candidates for an exit before the stop ever gets hit. RNG gets a few more days. TEAM is the position we'd hate to see give back — a sharp pullback in the broader market could clip those gains fast, and right now TEAM is doing a lot of the heavy lifting.

What we're watching tomorrow

Tomorrow the engines run fresh scans. After today's CAI exits, we're carrying 20 open positions — and the portfolio is leaning heavily on TEAM to keep the overall numbers green. The morning question: do any new Relative Strength setups emerge, or does the system sit on its hands and let the existing book breathe? We'll see what the scan surfaces.