- Jay Smith
eToro Weekly Update - Week 16 2018
Stats given cover closed trades for the 16th April - 22nd April. Keep in mind that the monthly stats on my page is effectively a snapshot of the drawdown on open trades at that time, meaning it is not a true representation of my numbers as I could close the positions at very different prices to what is seen right now.
My total realized profit from the past week is -1.53%. Overall the portfolio is up 4.93%
Profitable trades closed: 33
Unprofitable trades closed: 8
Most traded instrument: $BTC (7 trades)
A mostly sideways week where short term trading brought decent profits, which gave us the opportunity to close some $BTC & $OIL in the red, freeing up funds for the launch of $EOS on eToro.
$BTC - A handful of big reds closed here to make way for some $EOS, I also continue to close out any trades that hit green to switch into altcoins. Higher spreads recently made shorter trading more difficult here.
$ETHEREUM - Ethereum has taken it in turns with $XRP and $BTC in leading the overall market to new highs, when timed correctly there are huge profits to be made. For the past 6 months or so I’ve been repeating that I believe EOS poses a major threat to Ethereum in the 2nd half of this year, as such I’ve been closing profits as they roll in until my exposure is reduced to a level I’m happy with.
$DASH - Dash suffered heavily during the crypto crash this past month, but as you can see by the multiple greens closed, and it’s recent rally today the comeback is on. I closed out quite a few positions here over the past week, including a couple more yesterday to make room for EOS. Still bullish on Dash and believe it has the potential to rejoin the top 10 cryptos by market cap this year.
$XLM - Stellar has also been a strong performer for me, there are more and more conversations taking place about building currencies on top of Stellar’s network as an alternative to Ethereum recently, the exact reason I cited for being bullish a few weeks ago. I still plan on growing my exposure here, but believe it is fairly positioned by market cap in comparison with those around it. Some strong profits here helped me take the decision to close some red Bitcoin trades.
$AMD - AMD have another earnings call this week. My opinion of AMD has shifted around a little recently as I have become more uneasy by the failure to capitalise fully on the success of their Ryzen CPU’s. This earnings report I’ll be looking for an improvement both there, and in the fledgling Epyc offering, which should now be benefiting from increased orders as trials of the hardware by major players come to an end.
$OIL - After the situation in Syria escalated, I was forced to take the safe route and close half of my oil shorts for a substantial loss. We did earn some strong refunds from these trades, but not enough to cover the loss. This was a tough call to make, and one I can’t rule out for the two remaining positions. I’ll be keeping an eye on the charts but hope to gain enough refunds to at least hit a break even on these trades.
$MSFT - Although I’ve not been too active trading Microsoft this past week, I will again look to push for further exposure as their earnings call approaches and I expect them to outperform market expectations.
$NFLX - I closed a couple of trades here following the strong earnings report by NFLX, my confidence in the company continuing to expand it’s content and user-base remains high, and the company can better than ever justify its current valuation. That does not however, mean that the company is valued fairly, I’ll be looking for a small drop before reinvesting more into NFLX.
$NTDOY - Nintendo is not something I trade often, usually only around major events or hype, but I produced some TA which led me into a strong trade here taking home just shy of 2.5% in 2 days.
$SPOT - Overall I see a really bright future for Spotify, similar to NFLX. Their first earnings call is not until the 2nd of May at the tail end of earnings season. I expect this one could be a volatile one as investors are still not entirely sure what to expect.
$TWTR - Has done well for me recently, I plan on increasing exposure as we await their earnings this week. I still believe that Twitter is broadly immune to the privacy concerns Facebook suffered. On top of this I’ve witnessed good growth from them and correctly predicted a strong result for them last quarter. Twitter’s earnings call is before market open on the 25th.
What’s the plan?
We also have earnings reports for $MSFT and $GOOG this week but I do not plan on trading around these two reports.
This will be a busy week of earnings calls and research for me to ensure we are positioned the best we can be for some of the reports mentioned above. $AMD in particular is a big one for us as it still stands as our largest overall position outside of crypto and we are already sitting deep in red.
As mentioned a few times I plan to increase exposure to EOS and continue to shift the balance of our crypto portfolio, although I do not expect to be closing many (hopefully any more) reds to move funds, but instead wait for profits or break even before shifting funds.
Let me know what you think, as always I’m happy to discuss anything in the comments.