Stats given cover closed trades for the 10th September - 16th September
My total realized profit from the past week is -0.10% Overall the portfolio is up 3.23%
Profitable trades closed: 21
Unprofitable trades closed: 2
Most traded instrument: $AMD (6 Trades)
This week the markets slowed down compared with previous weeks. It was frankly a bit of a slow news week for both crypto and stocks. I only closed 21 trades this week, two of which were crypto trades. I was also hit by a nasty stop-loss on a leveraged position in $SEDG this week which prevented me from ending the week with a solid realised profit
$ATVI’s Black Ops 4 Blackout beta started on Monday last week. Players on PS4 and PC took to Twitch to livestream their gameplay of the new battle royale inspired game mode. On the 11th we saw a powerful rally of almost 10% in the share price as investors saw signs that the new game-mode could be successful or even a major hit comparable to PUBG and Fortnite. After studying gameplay for a few hours I believe the game does indeed have potential to win over a huge player base specifically from the console market where PUBG and Fortnite carry much weaker appeal
WEF released a 37 page report offering 65 use-cases to benefit the environment. The paper, “Building Blockchains for a Better Planet” was released on Thursday tackling methods that blockchain and distributed ledger technology can be applied to benefit the environment. The headline here (65 use-cases) is a little misleading though. Some of the examples were more in the realms of smart logistics, houses and cars, which have a more negligible impact on directly helping the environment. It’s reassuring to see this paper released from the WEF, and the recommendations at the end of the paper are broadly sensible
Cryptos
$EOS - One small TA based trade for 4.4% profit
$XLM - Another small TA based trade, I exited this position a little early resulting in only a small profit of 1.1%
Stocks $ETSY - Etsy has proven rather volatile over the past month since their earnings mid-august. We have benefitted from large exposure here for some longer trades, but also from the volatility resulting in 3 trades closed this week for, 3.4%, 2.1% and 0.3% profit
$AMD - 6 trades, between 0.6% and 6.4% profit. I do have a few short positions currently not looking healthy at around -10% and -20% each. AMD is in a rising wedge formation currently which looks likely to find a conclusion by the end of the week. The most likely scenario for rising wedges is a drop down to around 50% of the wedge height. In this scenario that sits somewhere around the 25 dollar price point. I’ve been actively trading while it remains within the wedge, careful not to get greedy when it pushes for new highs. Hopefully the price will fall down to somewhere sub 26 dollars for me to re-buy positions for a long-term hold on $AMD. There have been yet more leaks around AMD suggesting their lead in server CPU’s could accelerate further with future generations of the Zen architecture, and it appears to me that Lisa Su is wise enough to re-invest the great performance from their CPU’s back into their GPU line to ensure they are able to remain competitive in both consoles and the AI/Self-Driving markets. (I fear the PC market has been lost to nVidia entirely for at least another 5 years)
$ADBE - This was a small gamble ahead of their earnings which resulted in a nice 1.6% profit
$TTWO - 1 trade, 2.1% profit
$AMZN - Amazon is struggling to hold a price above the 2000 mark presenting some opportunities to day-trade it. This week I closed a position for just under 1.8% profit
$WIX - 2 positions closed at 2.2% and 8.4% profit. Again, the market has given us some volatility with which to make some good trades. I remain bullish on Wix, although we are approaching my target price of 125
$SPOT - 3.3% profit on one position
$MU - One of my two positions closed at 3.2% profit. MU always brings huge volatility and tempts me into trades. However it has always been a stock I struggle to tame, so I was happy to take the profit here. My remaining position is currently still down by around 4%
$SHOP - This was probably my favourite trade of the week. This swing trade using 2x leverage returned us over 13% profit in a week long position
$SQ - 2 trades, 1.2% and 0.1% profit. After re-exploring my theories on Square that I mentioned during last weeks video I took the decision to double up some of my positions into 2x leveraged trades to hold through to next year. I strongly believe we will see Square well above 100 after their next earnings call
$FSLR - 1 trade, -22.3% profit. Some rebalancing away from solar which as I’ve mentioned a few times looks like it could take another 12 months before it recovers
$SEDG - 1 trade, -50.1%. This was the painful position. A 2x leverage position dating back to when China first changed its stance on solar. Not my finest moment
Looking Forward
Blockchain Live takes place in London in a week. I’m still tempted to upgrade to the more expensive ticket as this event has many of the biggest names in Crypto who really excite me. Alex Tapscott, Dan Larimer, Joe Lubin and Brendan Bloomer being the highlights for me. If you’re in London and not doing anything on the 26th I highly recommend picking up a ticket (They’re free). The Gov Stage was very interesting last time. Although I was planning to attend the EOS hackathon I am unfortunately no longer going to be attending.
$TTWO are now a little over a month away from their next major release, Red Dead Redemption 2, I’m hoping to potentially trade around the news cycle and hype for this game. $ATVI as mentioned earlier also have the upcoming release of Black Ops 4, I have already taken some positions ahead of this release, and again plan to trade around the news/hype cycles.
Comments and questions are welcome!