Amazon (AMZN): Added to Position

The bloodbath continued on Friday with Amazon (AMZN) breaking down following its horrible earnings report last week, triggering my next buy order which filled at $2,290.83 and raised my per-share cost +$180.18 from $1,004.78 to $1,184.96. 

From here, my next buy target is $2,006.90, slightly above the key psychological support level of $2,000 even, and I have no sell targets at this time as I continue to rebuild the position which I closed in January 2020.

AMZN closed the week at $2,295.45, up +0.20% from where I added Friday.

Dow Chemical (DOW): Profit-Taking

It always feels counter-intuitive to take profits when the market’s are notoriously volatile – feels more like “Buying Season,” not “Selling Season” – but profit-taking is what I did in Dow Chemical (DOW) on Wednesday when the stock popped following the announcement that the Fed would raise the benchmark interest rates 0.5%. 

My sell order filled at $69.40, locking in +23.36% of gains on shares I bought for $56.26 back on September 20, 2021 and lowering my per-share cost -1.46% from $34.25 to $33.75, a -36.53% total price reduction from my first buy at $53.18 on May 3, 2019, almost four years earlier to the day.

From here, my next sell target is $71.86, right at DOW’s all-time high, and my next buy target is $55.15, right in the middle of support from DOW’s December 2021 selloff.

DOW closed the week at $67.93, down -2.12% from where I took profits Wednesday.

IDEXX Laboratories (IDXX): Added to Position

IDEXX Laboratories’ (IDXX) stock price fell hard after providing disappointing future guidance during its earnings report Wednesday morning, triggering a buy order I had in place which filled at $386.92. The buy locked in a -44.01% discount replacing the last of the shares I sold for $691.11 on July 28, 2021 and raised my per-share “cost” +$7.86 from -$47.43 to -$39.57 (a negative per-share cost indicates all capital has been taken out of the position in addition to $39.57 of profit per-share which is added to the portfolio’s bottom line).

From here, my next buy target for IDXX is $330.90, above a past point of support, and my next sell target is around $1,000 where IDXX will have outgrown the allocation target size for the portfolio.

IDXX closed the week at $366.64, down -5.24% from where I added Wednesday.

Logitech (LOGI): Added to Position

Given the huge boost in sales in 2020 and 2021 thanks to everyone working from home, Logitech (LOGI) missing its year-over-year comparisons when it reported earnings Monday evening was hardly too surprising, but it did lead to LOGI selling off on Tuesday where it triggered a buy order at $62.34.

The order locked in a -33.50% discount replacing some of the shares I sold for $93.74 back on November 5, 2020 and raised my per-share cost +$1.14 from $8.81 to $9.95, still a -59.22% reduction from where I opened the position at $24.20 on November 11, 2016.

From here, my next buy target is $58.05, above a point of support calculated using the Fibonacci Method, and my next sell target is $120.29 where LOGI will have outgrown the target allocation size for the portfolio.

LOGI closed the week at $60.94, down -2.25% from where I added Tuesday.

Nike (NKE): Added to Position

Nike (NKE) broke down through support hard on Friday with the rest of the market and triggered my next buy order which filled at $112.79. The buy raised my per-share “cost” +$3.49 from -$9.59 to -$6.10 (a negative per-share cost indicates all capital has been taken out of the position in addition to $6.10 of profit per-share which is added to the portfolio’s bottom line).

From here, my next buy target is $96.75, a past point of significant support, and my next sell target is $160.95 where Nike will outgrow the target position allocation size for the portfolio.

NKE closed the week at $114.49, up +1.51% from where I added Friday.