Updated: Nov 13, 2020
Hello, fellow traders. Hope the market was treating you well and you are in green.
As we all know the market was a bit rough in the past few weeks. Also, with the recent run for both SPX and NDAQ there are fewer companies that offer good value. It is getting harder to pick stocks that offer a good level of growth for the current prices. I have been still trading here and there, closed a few positions that provided for a good return and are currently overvalued. I was closing positions that are in the profit (some provided for a great run, thank you JKS). However, I am also sitting on a higher amount of cash than I would usually have.
List of closed positions for the past 2 months:
MPC @ $34.78 (+92.7%)
Happy with the profit, the stock failed to break-though resistance multiple times.
SEDG @ $200 (+78.8%)
The stock continued to move, but there was a moment of uncertainty around $200, so I sold. Happy with the profit. I think the stock is getting into overvalued territory.
SQ @ $150 (+175%)
The stock is trading higher right now, but I think the growth was too fast. Took profits.
JKS half @60; half @80 (+277%)
I had an $80 target and I reached it. However, I was not expecting the stock to reach that target in just a matter of 1 month. Extreme pumping made me sell half $60. Obviously, I am happy with the profit, especially that the stock price dropped after it touched $90. Still going to watch it. Long-term this could back to $80 or even $100.
OESX @6.90 by stop-loss (+38.55%)
This week, the stock market showed a lot of weakness. This triggered my stop-loss. I still think the stock can go to $15 in the next year or 2. But I chose to keep some cash in case the market continues to soften. I will keep an eye on this one specifically to enter again.
AMRN @4.95 (-28.15%)
Wrong decision here. The stock is a mess.
BYND @182 (+57.71%)
After some growth and good news, the stock failed to break-thought the resistance. Also, I was looking at this again and my outlook for the stock worsened. Too much competition, also value is not there. Looks overpriced at these levels.
BOMN @16.78 (+5.14%)
I bought this because of a couple of articles I read about this and positive reviews by analysts. But the stock price is not moving. I am a mid-term investor. This might be a good stock to hold for 10+ years, but I don't have the patience.
In addition to the closed positions, I opened a few more. As usual, I was looking for a combination of growth at a good value. I particularly try to find stocks that are nearing profitability and have good chances to reach it. Then, looking at the expected EPS in 2-3 years I look at the forward PE ratio: what would be the PE ratio at the current price and predicted EPS in 2-3 years.
Given the market is quite volatile, my portfolio is in the red right now. However, I am not worried as my investment horizon is 2-3 years. With the expected growth for these companies, I am confident I will see a few of those deliver 100%-200% in the next few years.
As you can see I doubled down on a couple of stocks: MOGO and BDSI. The rest are new.
As usual, you can see the full list of stocks in my portfolio including closed positions here: https://www.wininstocks.com/watch-list-and-portfolio