No video for now, I think I may have had a little too much sun as I seem unable to function well today. If I feel a bit better I’ll record it later and post the link as usual.
Stats given cover closed trades for the 7th May - 13th May.
My total realized profit from the past week is +1.07%. Overall the portfolio is down 0.74%
Profitable trades closed: 22
Unprofitable trades closed: 3
Most traded instrument: $EOS / $SEDG (5 trades)
After a long weekend away getting sunburnt in the Isle of Wight, watching the wild swings in crypto following the Mt.Gox movements. The week closed out in a reasonable place. Realised some nice profits, but the cryptos dragged the overall portfolio down 0.74%. Strong earnings from Nvidia and Solar Edge helped alleviate the pain of the large EOS drop. I am more comfortable with my current portfolio than I have been in months, and feel we are finally well balanced again after the major swings earlier in the year.
$XLM - Closing some profit, again rebuilding at stronger entry points.
$EOS - I took some profits between $16-21 with the aim to re-enter at lower prices. Reasonably happy with performance here although the recent drop due to Mt.Gox moving coins hit EOS hard along with other cryptos. This was not something I expected, they previously expressed that they did not intend on moving more coins until Q3. EOS released Dawn 4.0, the 2nd release candidate version of the software as we went into the weekend, I’m yet to dive in on the improvements to this version.
$ETHEREUM - I’m now happy with the balance of Ethereum in our portfolio and will aim to keep exposure at a similar level to what it is now while trading it actively. The Boycott of Vitalik during consensus leads me to believe Ethereum will perform badly when compared with the other major coins for the next week.
$FSLR - Not much to report here, the stock continues to push higher as the overall market recovers. The Solar Edge earnings call reinforced my belief that the overall solar market it growing rapidly now. This will be one of my larger positions.
$TTWO - A few nice trades here, slowly building exposure as explained in last week’s update.
$SEDG - The earnings are out and again, impressive. Solar Edge also announced the agreement to acquire a small UPS company in Israel, the effect this will have on revenue is likely to be very small in the short-medium term, currently the company is posting losses but this is expected to be reversed within the first 1-2 quarters as it is primarily costs related to legal/regulations/accounting for being a public traded company. The US remains by far the largest market for SEDG, though they were keen to point out the impressive growth across many regions in Europe as well as Australia.
$AMD - Finally finished trimming this position in my portfolio, I’ll still be looking to trade it actively, it is no longer the largest stock position of the portfolio.
$NVDA - Nvidia earnings were again impressive. Notably, the demand in gaming which would normally see a seasonal drop has remained strong due to a combination of new high-end games such as PUBG and Far Cry 5 and cryptocurrency miners keeping demand high. The price of GPU’s has finally started to drop back to normal levels as miners are switching towards ASIC’s and Nvidia’s own mining focused offering. The big news for me was around Raytracing, I shared a video of this a few months ago when it was announced, but during the call they suggested that the technology would be available to consumer level cards (Not the server stuff) by the end of the year, to me this means the next gen of Nvidia GPU’s could house the technology. Even looking back at the cards that offer it now the potential market here is substantial, 1 server with 4 nvidia cards is capable of delivering 30FPS rendering, the current equivalent would be 2-3 racks of servers.
Every single sector within Nvidia grew and turned a profit, it seems inevitable that Nvidia will grow to become the biggest hardware solution in the world by some margin.
What’s the plan?
Now that earnings have come to a close and my portfolio has been reshuffled I expect things to be a little quieter on the trading front. The shift from actively day-trading the volatility back towards more long-term trades is well underway. As always there will still be plenty of opportunities to watch for as different stocks hit buy/sell points, but overall the focus will switch more towards crypto. This week Consensus is taking place in New York, anyone big in crypto is already there with the exception of a few big names who are boycotting the event. This week I’ll be focused on following the big news in crypto and re-assessing where I am focusing my efforts. Let’s also not forget that the countdown to EOS going live continues, we are now just two weeks away!