Alphabet (GOOGL): Added to Position

Alphabet (GOOGL) broke through to new lows for 2022 after reporting an even more disappointing quarter than analysts were expecting Tuesday night. The price action triggered my next buy order which filled at $93.86 on Thursday, lowering my per-share cost -1.98% from $101.93 to $99.91.

From here, my next buy price target is $80.85, above a past point of support, and my next sell target is $143.15, a bit below GOOGL’s all-time high where it has seen repeated resistance in the past.

GOOGL closed the week at $96.29, up +2.59% from where I added Thursday.

Amazon (AMZN): Added to Position

Like Alphabet above, Amazon (AMZN) reported a disappointing quarter and gave weak guidance Thursday evening which led to the stock opening Friday below its 2022 lows. The open triggered my next buy order which filled at $98.73, raising my per-share cost a whopping +16.20% from $59.25 to $68.85 as I continue to build this position slowly.

From here, my next buy target is $70.40, above a past point of support, and my next sell target is $146.20, below AMZN’s high in August.

AMZN closed the week at $103.41, up +4.74% from where I added Friday.

Apple (AAPL): Profit-Taking

Okay, I love Apple (AAPL), you love Apple, the whole world loves Apple, but when AAPL rocketed more than +8% on Friday after reporting a better-than-feared quarter Thursday evening, I had no choice but to take some profits in this position that is, by far, the largest holding in my Investments in Play portfolio.

I mean, how do you say “overexuberant” in terms of market action? We’re in a Bear Market and everyone piles into Apple just because it wasn’t as bad as Alphabet (GOOGL), Amazon (AMZN), and Meta Networks (META)?! Seriously??

My sale went through at $157.30, locking in a whopping +34.79% in gains on shares I bought for $116.70 back on March 8, 2021 and lowered my per-share “cost” a significant -12.69% from -$54.05 to -$60.91 (a negative per-share cost indicates all capital has been removed in addition to $60.91 per share added to the portfolio’s bottom line in addition to each share’s current value). 

It’s worth noting that even after this sale, Apple doesn’t just remain the biggest position in the portfolio, it’s still bigger than the portfolio’s target position allocation size of 7.14%, that’s how crazy Apple has been in the market lately.

From here, my next buy target remains near AAPL’s 2022 low at $130.25 and my next sell target is $173.15, around a key downward trendline that’s been in effect for the entirety of this Bear Market which started in 2021.

AAPL closed the week at $155.74, down -0.99% from where I took profits Friday.

Logitech (LOGI): Profit-Taking

The combination of Logitech (LOGI) reporting excellent earnings and the bull rally continuing led to LOGI jumping nearly +15% during the day on Tuesday, and also caused me to take some profits at $50.52, locking in +13.32% in gains on shares I bought less than a month ago for $44.58 on September 26.

The sale lowered my per-share cost -5.44% from $13.41 to $12.68. From here, my next sell target is $59.30, below a past point of resistance, and my next buy target is $42.25, slightly above Logitech’s 2022 low.

LOGI closed the week at $51.13, up +1.21% from where I took profits Tuesday.

Schwab (SCHW): Profit-Taking

Schwab (SCHW) saw a huge pop with the rest of the financial sector on Thursday, triggering my next sell order which filled at $74.89. The sale locked in +10.78% in gains on shares I bought for $67.60 back on April 28 and lowered my per-share cost -0.75% from $72.14 to $71.60.

While it may seem slightly goofy to lock in such small gains, given the volatility of the market combined with the fact that we are, indeed, having a bull rally in a bear market, I prefer to follow the idiom, “If you don’t take profits when you have them to take, the market will take them from you.”

From here, my next sell target is $90.20, below a past point of resistance and key level of Fibonacci Retracement, and my next buy target is $66.50, above SCHW’s recent low.

SCHW closed the week at $88.06, up +17.59% from where I took profits Thursday.

Visa (V): Profit-Taking

Despite being a relatively new position in the portfolio, it was time to take some profits in Visa (V) after it reported an excellent quarter Tuesday night with a sale that went through at $205.04 on Wednesday. Given the amount of volatility in the markets and the potential downside facing consumer spending in the coming months, taking profits seemed prudent with all the headwinds facing financials in 2023.

The sale locked in +9.65% in gains on shares I bought for $187.00 on June 17, and lowered my per-share cost -7.84% from $189.88 to $175.00. From here, I have no more sell targets in the position as I do want to hold this one long-term, and my next buy target is $174.90, slightly below my new cost-basis and above V’s $174.60 low for 2022.

V closed the week at $209.34, up +2.10% from where I took profits Wednesday.