Stats given cover closed trades for the 11th June - 17th June
My total realized profit from the past week is -1.95% Overall the portfolio is down 1.49%
Profitable trades closed: 20
Unprofitable trades closed: 13 (11 of these are EOS)
In contrast to last week which was reasonably quiet, this week I closed several substantial green trades in stocks, capitalising on E3 and big moves in tech over the past few weeks. The portfolio is looking broadly healthy especially in stocks, with a lot of cash reserves on the side after some profit taking. Outside the EOS trades I have not traded any cryptocurrency this week. This is primarily due to the larger influence TA has on my trading of cryptos, something I lack time for while out in Canada. I will be arriving back in the UK early Thursday morning. Next week’s weekly update will again be accompanied with a video.
Some of the top news highlights for this week: $AAPL announced that they are spending $900M on original content this year, again sparking discussions about their streaming service. The shows are due to be ready for release in 2019. This is just 1/9th of the budget Netflix has for original content over the same period. $ETHEREUM received some good news which halted the downtrend this week as William Hinman, Finance Director of the SEC gave the following statement at the Yahoo Finance All Market Summit: “Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.” The Global Markets President of the CBOE came out a couple of days later and said that the decision has paved the way for an Ethereum futures market.
$EOS mainnet went live after it breached the 15% threshold only a few hours after I said it could be another week. There have however been a few hiccups, the blockchain was paused automatically by the software after a couple of days when a small bug was discovered. The 21 block producers quickly patched the bug and the blockchain has since resumed and is still undergoing rigorous testing. There are no indications yet of trading resuming on major exchanges.
Cryptos
$EOS - As explained above EOS has been making some good progress with the mainnet and I expect exchanges to begin trading it around the end of the month, although this is just an estimate. As some of you have noticed 11 unprofitable EOS trades were closed on my portfolio at the weekend. All of my EOS positions that I had open were closed. These positions were not closed by me, but were closed in error by eToro. I am still working directly with eToro on a resolution to the situation, as always you, my copiers remain my top priority. You do not need to take any actions, I will update you all again when I have more news. Interestingly it’s worth noting that if we exclude these trades from the weekly stats I had a very strong week, and our realized profit for the week would have been +5.41%.
Stocks $NTDOY - Some fun quick trades here during E3, I was trading this on the train from Montreal to Toronto while watching the live stream. Happy with these trades.
$UK100 - I closed this long-term short for a sizeable 18% loss. It appears to me that the markets are simply shrugging off the trade war and even the brexit mess for the most part.
$NVDA - 2 trades closed for good profits, simply some profit taking.
$TWTR - Twitter continues to perform brilliantly, oh how I wish I went into it with more money back when it was $15 at the start of the year. 1 position closed for 6.5% profit, I’ll look to re-enter at a lower price as I wish to keep exposure.
$TTWO - Another 2 trades closed during E3, 6% and 4.5% respectively.
$AMD - Could easily have driven a more emotional trader mad by now, I’ve been a major supporter of this stock for some time but cashed out a large amount prior to the recent rally. Intel recently conceded that they expect AMD to take chunks out of their server market share. Two more trades closed, one of which was a short as the price over-extended into the high $16 range.
$SNAP - Another short closed for reasonable profit.
$SPOT - I finally closed out a couple of spotify trades, these were my best performers returning 8.77% and 5.05% respectively.
$TSLA - I closed a trade for reasonable profit here as I feel Tesla has over-extended, especially amid growing concerns surrounding the Solar City section of the business.
$ATVI - 3 trades closed, two in profit, 1 for a sizeable loss, somehow I had not noticed that I accidentally opened a short instead of a long, I closed it as soon as I saw it, this unfortunately negated the other two trades combined.
Looking Forward
As mentioned, I return home from Canada this week, I’m looking forward to getting stuck in again to build on what was a strong week this week. $ADA - Cardano was recently added to eToro, I’ll be looking to try and trade this a little and build some small long-term exposure.