Apple (AAPL): Added to Position

I promised myself I’d be more aggressive with this portfolio in 2021, and getting aggressive with what’s arguably the most valuable American company of all time, Apple (AAPL), seems about as conservatively aggressive as I could be (I’m channeling my inner Fed Chair Jerome Powell’s “not even thinking about thinking about thinking about raising rates…” line here).

When Apple showed weakness with the rest of tech on Wednesday, I decided to add a small amount, picking up a few shares at $135.74. The purchase raises my per-share “cost” to -$55.80 (meaning each share in the portfolio cost no capital and adds $55.80 in profit in addition to the current share price).

From here, my next buying target for AAPL is $114.25. My next sell target for this long-term position won’t be until Apple has exceeded the portfolio allocation of 7.14% which projects a selling range of $220-230.

AAPL closed the week at $135.37, down -0.27% from where I added Wednesday.

Canopy Growth Corp (CGC): Added to Position

After the Reddit Rebellion turned its sights from GameStop (GME) to the cannabis stocks, Canopy Growth Corporation (CGC) and its cohorts became the most volatile stocks in the entire market this week. Following an excellent earnings report, CGC rocketed to $56.50 a share on Wednesday only to collapse more than -20% on Thursday.

I decided to put some of the capital to work that I earned selling Mar 6 $60 Covered Calls, adding shares on Thursday with an order that filled at $43.81. The order raised my per-share “cost” to -$0.81 (meaning each share in the portfolio cost no capital and adds $0.81 in profit in addition to the current share price).

My next buy price target for CGC is $35.35 and my next sell target is when the position exceeds my portfolio’s 7.14% allocation, somewhere around $66-68 (assuming, of course, that my Covered Calls already expired before CGC crossed over the $60/shr. mark…).

CGC closed the week at $40.31, down -7.99% from where I bought Thursday.

JP Morgan (JPM): Profit-Taking

JP Morgan (JPM) rose with the rest of the market on Friday, nearing its all-time high and leading me to take profits with a sale that filled at $141.61. While JPM is certainly Best-in-Breed when it comes to banks, the financials have had a heck of a run from the March 2020 bottom, so I’m being conservative and reducing the size of my position.

The sale locks in +59.11% in gains on shares I bought for $89.00 during the pandemic selloff on March 12, 2020 and lowered my per-share cost for the position by -4.71% from $85.84 to $81.80.

From here, I have no additional sell target as I wait to see what JPM does when/if it breaks its all-time high. My buy target is near the March 2020 lows at $83.40.

JPM closed the week at $141.25, down -0.25% from where I sold Friday.

Square (SQ): Profit-Taking

Square (SQ) made all-new highs on Monday following Tesla’s (TSLA) announcement that the company would buy $1.5 billion in Bitcoin (BTCUSD) and accept the cryptocurrency for its products, causing the crypto to make all-new highs.

Square already held a significant position in Bitcoin which the company purchased when the crypto was less than $20k, so the pop in Bitcoin’s value led to Square’s stock increasing accordingly.

And, as a result, Square once again flew through another milestone for the portfolio, regaining its place as the largest position, and triggering a sell order which filled on Monday at $260.45.

Monday’s sale locked in +20.62% in gains on shares I bought just two weeks earlier on January 25 for $215.92. From here, my next sell target is $294.15 – a key figure for the portfolio and near analysts’ $300 price target for the stock. My next buy target is $210.35.

SQ closed the week at $272.75, up +4.72% from where I sold Monday.