Stats given cover closed trades for the 23rd July - 29th July
My total realized profit from the past week is 0.92% Overall the portfolio is down 0.24%
Profitable trades closed: 25
Unprofitable trades closed: 1
Most traded instrument: $AMD (5 Trades)
Another week of decent trading and broadly good decisions on earnings reports. I’ll be writing up a blog post summarising opinions of every earnings report from last week that I traded, but to summarise briefly:
$MSFT - Amazing earnings beating targets across the company with good growth and an earnings beat. I had a good chunk of my portfolio here and opened additional trades to benefit.
$WIX - Strong earnings beat. One of the more interesting topics covered was their investment in a mobile website building wizard, already thinking years ahead, a sensible decision in my opinion. $FSLR - We knew it would be a tough period for solar, First Solar were upfront with the challenges presented by the China situation, but believe they are in an extremely strong position to weather the storm. Q2/3 are always poor for FSLR and this result was not too bad, and the price settled flat to the same price it’s sat in for the past 2 months.
$SPOT - Spotify had reasonably good earnings and will remain a small long-term position in our portfolio.
$FB - Well that was a huge move. The big driver for the move was the statement by the CFO that growth is likely to “decelerate” for the remainder of the year substantially. Those of you who recall my discussion on FB a few months back will remember my concerns of this happening. We made great money on a single short trade.
$TWTR - This was the one that hurt us. Twitter has had a phenomenal year, up over 100% from it’s lows of 15 bucks. Unfortunately they fell by over 10% during earnings. I put this down more to the fear of a big hit on MAU/DAU from their ongoing cleanup of bots.
It was a relatively quiet week for news, there was one big story though. The SEC’s decision on the ETF. The winklevoss twins first began their quest to build a Bitcoin ETF in 2013, but took a blow in March last year when it was denied by the SEC citing a lack of liquidity and potential for market manipulation. Since then Bitcoin has grown, but still the SEC declined the appeal with the same reasoning. There is a glimmer of hope though, the decision was not unanimous. Hester Peirce voted for the ETF and published a statement after the decision with her reasoning. There is still more to come though, SolidX who were also denied last year are still working on their ETF, along with several other groups.
$XLM - One small loss (1%), two big gains (5% & 14%). I’ve been trading XLM a little more actively recently.
$BTC - Two profits around 4%, one at 0.08%.
Stocks $SQ - Two profits, 2.7% and 5.8%, one closed around current price level, the other closed ahead of the big stock drop on Friday. Looking to rebuy below 70 for 1 position, the other after earnings.
$AMD - Five small profits between 0.5% and 2.6% - A great earnings for AMD, my regret on closing around 10 positions between 11-13 after holding for so long and predicting AMD at 18+ was really frustrating to see. Another lesson in patience has been learned, regardless we capitalised on the earnings with several trades.
$NTDOY - Two profits, 1.5% and 4.5%. Always a scary stock to trade as it’s so volatile, but some good profits.
$NVDA - 0.24% on one trade.
$SPOT - 1.2% on a single trade post earnings.
$FB - 18% on a short, big shout to @MatiGreenspan who had balls of steel and shorted on 5x leverage! Can’t complain at 18% in a day though. $FB Could be interesting to trade over the remainder of 2018.
$WIX - 3 trades closed, the largest for 7.7% profit. Wix had a good earnings period and are making sensible long-term investments.
$SNE - 0.8% I like this stock but it’s quite flat and difficult to trade, I’ll keep an eye on it but may trade it less in future.
$MSFT - Two big trades, 12% and 9.8% and a smaller 1% profit. Amazing earnings for Microsoft with strong growth across all sectors of the company.
This week we have a whole bunch more earnings coming up in the sectors I trade regularly. Here is a quick list of the ones I’ll be following.
As you can see it’s going to be a very busy week, the key earnings for us will be $SHOP and $SQ which are both major parts of my portfolio. The others I may look to trade with short-term positions ahead of earnings or after earnings.