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  • Jay Smith

eToro Weekly Update - Week 18 2018


https://youtu.be/yMVyxAvPkvw

Stats given cover closed trades for the 30th April - 6th May.

My total realized profit from the past week is +1.44%. Overall the portfolio is up 2.23%

Profitable trades closed: 33

Unprofitable trades closed: 3

Most traded instrument: $XLM (7 trades)

Another earnings week. I always try to listen to every earnings call for stocks I trade along with checking the reports they release. As a result I spent 30+ hours listening to earnings calls over the past two weeks, which is why I’ve been a little less active posting on eToro, and slower on the weekly updates. We also had a turbulent week in the markets with some substantial downwards pressure mid-week.

Cryptos

$BTC - Bitcoin finally broke out above 9k with some conviction before hitting resistance just shy of 10k. A strong sign, but I will remain cautious until we are back up to 13k+, we may not be ready for a strong move up quite yet.

$XLM - I took a lot of profits here this week, I’ll be back in at lower prices.

$DASH - Dash released yet another teaser demo for Dash Evolution, I’m yet to check out the content, but I’m still bullish on Dash’s potential. Unfortunately there was also news coming from Japan about a crackdown on privacy coins such as Dash and Monero which may have played a role in the slower growth here.

$ETHEREUM - I’ve continued to gradually reduce my position size, given what you’ll read in my EOS section you can see why.

$EOS - We finally saw the hype for the launch take effect as EOS rallied by upwards of 70% to new all-time-highs. Although it has settled there are strong signs that there is more in the tank, a large chunk of Ethereum raised by EOS in their ICO was moved to Bitfinex at the weekend suggesting they could be planning to cash in and buy up more EOS shortly before the launch at the end of the month, we are talking about hundreds of thousands of Ether being moved.

Stocks

$SNAP - What a shame I didn’t keep those shorts open. Snapchat has always provided volatility at earnings, this time backed up by the poor interface changes and struggles to generate strong revenue/user growth. My shorting trades have resumed. $NSDQ100 - Closed 1 short when the market bottomed, another still open to hedge.

$BABA - Another earnings report I’m yet to check, it appears the market liked it and the stock now pushing for a potential breakout this week if market conditions allow. I closed one trade at a loss before their earnings.

$SQ - Square had another brilliant earnings, interestingly $BTC sales were responsible for just over $36M of revenue. I also counted 3 questions specifically on their strategy regarding crypto in the future. Crypto aside they have successfully launched in the UK, and they are confident about the recent agreement to acquire Weebly. I am very bullish on Square after seeing this acquisition.

$SHOP - Shopify had strong earnings and are focusing on their expansion into more markets. For some reason they gapped down some 10% - myself and @Wesl3y agreed the only suitable action was to buy the dip, it has since moved much higher, though I exited at a 3% return on my dip-buying trade.

$ATVI - ATVI had a moment of insane volatility this week after a false earnings report was released through various news websites. It incorrectly stated revenue some 15% lower than the figure given when the real report was released on Thursday. There were some interesting things in the call, a lot of time spent discussing the impact of the new PUBG/Fortnite style of game on the overall market. They kept referring to this as a game mode, rather than genre, and later in the call when discussing their strength in the FPS genre they again used the word mode to describe how they plan to continue innovating in their titles going forward. My suspicion is that the new CoD titles will feature battle-royale modes or that Blizzard is working on it’s own entirely new IP in this sector.

$TSLA - Although I did not trade Tesla, the drama following their earnings call, in which Musk referred to contractors as barnacles that need removing, hung up on an investor and took a 15 minute question from a retail investor can’t be ignored. I still believe in the vision and company, but this raised eyebrows and distanced institutional investors from Tesla.

What’s the plan?

My focus is back on the gaming space, $TTWO recently released the trailer for Red Dead Redemption 2, $ATVI feel like their slightly slower growth over the past 6 months could be about to kick up a gear. I’m also more focused on both $SHOP and $SQ following their earnings reports, both appear unrelenting in their growth, providing a necessary alternative to $AMZN and enabling smaller businesses to grow. I am more bearish on $AMZN following the news about their Prime fees going up and the ever improving competition to some of their services from $NFLX and $SPOT.


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