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  • Jay Smith

eToro Weekly Update - Week 20 2018


Stats given cover closed trades for the 14th May - 20th May.

My total realized profit from the past week is +0.15%. Overall the portfolio is down 1.36%

Profitable trades closed: 23

Unprofitable trades closed: 3

Most traded instrument: $EOS / $AMD (4 trades)

A surprisingly dull week of trading. Blockchain week kicked off in New York with Consensus, but there was little in the way of major news to trade for the big cryptos. One of the more interesting moments was when Joe Lubin of Consensys, a startup building various tools/apps on Ethereum made a bet on stage with Jimmy Song about if there will be any altcoins still alive in 5 years. Of course since I am invested in many different cryptos you can probably tell that I side with Joe on this one. In other news the Chinese Government’s Ministry of Industry & IT released their first crypto ratings. Ranking projects by their Technology, Application and Innovation the results were somewhat surprising. $ETHEREUM took 1st, followed by Steem, Lisk, $NEO, Komodo, $XLM Cardano, IOTA, Monero and Stratis rounding out the top 10. $BTC came in at 13th, $XRP in 17th $Dash 18th $LTC was 21st and $BCH 25th. Interestingly EOS was absent from the list and Verge was in 14th just behind Bitcoin. Similar to the Weiss ratings released earlier this year the community is skeptical. For me the major alarm bell is Verge up in 14th, this crypto is widely considered shambolic. As such it is hard for me to take these ratings seriously.

Another thing I wanted to touch on - in my last update I said that having listened to the latest $ATVI earnings call I was confident they would be adding a Battle Royale mode to the next Call of Duty title. Sure enough I was correct and the stock price pumped on the news. Here is the trailer: https://www.youtube.com/watch?v=TktjCqG4p7Y It doesn’t look like anything too special to me personally (and I play a lot of PUBG which kickstarted the genre), but I can see the hype in the community building, this game will sell very well I think. Unfortunately, it’s not due for release until October.

Cryptos

$EOS - EOS was hit by some substantial FUD this week causing it to drop further than anticipated. UpBit - one of Korea’s largest exchanges was accused of fraud, allegedly moving customer funds into a directors wallet. This has since been proven incorrect and UpBit in fact came out with better news for EOS, announcing their support for the token swap. We took advantage and opened a few positions during the drop.

Outside EOS I closed a couple of small trades in $LTC $BTC and $XLM all for small profits.

Stocks $AMD - 4 positions closed this week for small profit, I’ve since reopened a few but do not want to repeat my previous mistake of allowing this position to grow too big. Interestingly, AMD appear to be reaching out to many of the major EOS block producer candidates to sell them their server solutions (Epyc), a bold strategic move, after all if EOS is successful those BP’s will need to scale up and likely stick to whatever hardware they start with.

$MSFT - I took some small profits from Microsoft, 1.5% and 3.5% respectively.

$TTWO - Take Two had some extremely interesting volatility last week resulting in some good gains across several trades, two of which were leveraged. I remain bullish on them for the 2nd half of 2018.

$NVDA - I took some money off the table at Nvidia for a short period of time, waiting for entry below 240 if possible.

$NSDQ100 & $GOLD - I took the loss on these two hedging trades as I feel the market is looking reasonably strong at the moment and want to avoid letting these grow into larger losses.

What’s the plan?

I have a good amount of funds available currently (almost 10%), I’m content to play a more patient game for a while and set up my portfolio to benefit from the next couple of quarters. I still plan on actively trading $SNAP $TWTR $SQ $ATVI and possibly $AMD during this quieter period. On the crypto front I’m bullish on a bull move upwards based on some TA and the two major mainnet launches for Tron and $EOS at the end of the month. I have already began reducing exposure to EOS slightly as we approach just as a precaution. The next few weeks look to be reasonably quiet.


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