Stats given cover closed trades for the 28th May - 4th June.
My total realized profit from the past week is +0.15%. Overall the portfolio is up 5.18%
Profitable trades closed: 16
Unprofitable trades closed: 1
Most traded instrument: $NTDOY (3 trades)
Another slow week, but stable returns as the overall portfolio floated back up by the 5% it fell by last week. This is not for lack of news, in crypto one of the longest serving altcoin focused exchanges, BitTrex, signed a banking deal last week resulting in USD pairs being added to the platform. For now these pairs will only be made available to corporate customers from a handful of regions in the US. BitTrex were keen to mention that the plan is to eventually offer this to retail traders as well. EOS is on schedule with their MainNet launch. I attended the EOS London Launch event where SVK Crypto announced their partnership with EOS VC and a new $50M VC fund. The next day the launch began, EOSAuthority proposed the first ERC20 snapshot (current state of who owns what) to be used on the new MainNet in the early hours and since then progress has remained on schedule. South Korea’s National Assembly is pushing to remove the ban on ICO’s in Korea. ICO’s would be allowed providing they offer basic investor protections. The special committee of the Fourth Industrial Revolution (yes, that’s a real committee) suggested that Korea has been too slow to introduce regulations to protect consumers and enable innovation in blockchain within the country.
Nintendo unveiled a trailer for the new “Pokemon Let’s Go” game, announced for the Switch. As so often happens, the market reacted strongly and Nintendo shares shot up 6.5% only to retreat a week later as news broke today that the Pokemon Company has poached Satoru Shibata, the former President for Nintendo of Europe, a man with 35 years of experience within Nintendo.
Cryptos
$DASH - Two trades with good profit here buying the dip last week and closing out with sensible profits.
$BTC - Similar to Dash, a couple of reasonable long trades this week scalping some small profit from the latest crypto bounce. There was more profit to be made, but as mentioned in previous updates I’m being careful not to get trapped in these quick trades.
Stocks $SNAP - I managed to close both shorts here for 1% and 2.5% profit respectively only days before Snapchat finally bounced back up with the strong market bullish momentum. More shorts have been placed, I expect to hold at least one of these for a longer period. Still very confident that Snapchat will continue to struggle and ultimately fail as a company.
$TWTR - Took profit in the high 34’s and 35’s with one position still open currently at a monster profit of 15%. I was not expecting the major pump towards the world cup, which appears to be what’s driving much of the positive sentiment. It appears we could be forming a cup/handle on the daily chart with the top of the cup somewhere around $50. I’ll be buying back in at the next drop which could be around now as 37.5 provides resistance.
$SEDG - Two more green trades buying the dip, both $SEDG and $FSLR continue to struggle and have seen sharp falls in recent weeks, I remain confident and will acquire more positions in both.
$SHOP & $SQ - One trade closed in each for good returns. Both companies are on fire currently and we have sizeable positions in them. Planning to hold them for a longer period.
$NTDOY - I bought based of technicals and regrettably closed just hours before the pokemon announcement, still some small profits were made though.
$OIL - Closed one of my long-term shorts here following the major fall from the 70’s back down to the mid 60’s. Not great, but those who copied me when the trade was opened will notice some of the losses are absorbed by our refunds for shorting.
Looking Forward
On Wednesday I’ll be flying out to Canada for a 2 week holiday. I will as always continue trading, monitoring the portfolio, tweeting and posting on eToro. The weekly updates will continue, however only in written format, no videos. I’ll be back on the 21st and hopefully stream again on Friday the 22nd.
This week will be an exciting one. EOS’s MainNet should be up within 24 hours if everything goes smoothly, and trading on eToro would likely resume once major exchanges have resumed. We also have E3 taking place while I’m out in Canada, important for our positions in $NTDOY $ATVI $TTWO and $NVDA .