Highlights from the Week

Biggest Winner: IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX), my preferred “humanization of pets” play, tried to break its all-time high of $291.16 this week, making it to $291.05 before retreating. This attempt earns IDXX this week’s “Biggest Winner” accolade, earning +7.14% on the week and the portfolio’s Year-To-Date earner at +55.76%.

Biggest Loser: Canopy Growth Corporation (CGC)

Canopy Growth Corp (CGC) once again earns “Biggest Loser” disgrace, losing yet another -5.26% over the course of the week and pushing its Year-To-Date losses through 10% to a YTD total loss of -12.24%.

Is Canopy Growth headed to zero? I don’t think so, but it’s forward outlook is rocky and I expect further pain is in store for the stock. Accordingly, I’m not adding to my position until it breaks below my current per-share cost of $17.50. If it never makes it that low, I’m perfectly comfortable with my ~1% allocation to the extremely volatile (but potentially very lucrative) recreational cannabis sector.

This Week’s Moves

*No Moves This Week*

While the market did work its way higher from last week’s epic Friday sell-off, there wasn’t enough of an upward move to hit any profit-taking targets. Conversely, none of my positions retreated enough over the course of the week to hit my buy targets.

“Never trade a dull market.” Professional traders and analysts warn the most dangerous thing a trader or investor can do is to force a purchase or sale during a slow-moving market since sudden volatility can cause price action to reverse in a very rapid hurry.

The best approach? Sit on your hands and wait. Let’s see what next week brings…