Block (SQ): Added to Position

Block (SQ) broke down even further with the rest of the market on Friday, triggering my next buy order which added 2.70% to the position, filling at $54.97. The buy locked in a -22.66% discount, replacing shares I sold for $71.08 on November 14, 2022.

The buy raised my per-share “cost” +4.56% from -$75.30 to -$71.87 (a negative per-share cost indicates all capital has been removed in addition to $71.87 per share added to the portfolio’s bottom line in addition to each share’s current value).

From here, my next buy target is $48.01, above a past point of support from during the pandemic selloff, and my next sell target is $88.19, just under Block’s high from earlier in 2023.

SQ closed the week at $56.88, up +3.47% from where I added Friday.

Morgan Stanley (MS): Dividend Reinvestment

Morgan Stanley (MS) paid out its quarterly dividend which, after reinvestment on Wednesday, lowered my per-share cost -0.98% from $64.34 to $63.71. Morgan Stanley has been an absolutely excellent position since I initially opened it on April 25, 2022, so waiting for it to sell off before I add more has been nearly excruciating.

However, I remain patient, so my next buy target is $76.78, above a past point of key support. Additionally, if MS decides to rally once more, I am targeting trimming even more profits off this position if it makes an attempt to break its all-time at $109.73.