Highlights from the Week

Biggest Winner: Canopy Growth Corp (CGC)

After three weeks of losing, Canopy Growth Corporation (CGC) finally bounced this week, and bounce it did earning +17.47% over the course of the week. Does this mean it’s safe to buy CGC? Of course not! After a stock becomes that oversold, it will often bounce as buyers rush in to get a bargain.

While it’s possible that CGC has bottomed, given the current market conditions, volatility, and potential negative news, jumping into CGC with both feet right now would be a fool’s errand. Much better to approach it cautiously.

Biggest Loser: Twilio (TWLO)

Market darling, Twilio (TWLO), makers of the communications platform that makes modern apps work, suddenly sold off this week on no real news, dropping -5.19% and earning itself the spot of Biggest Loser.

Growth stocks can experience huge sell-offs during periods of great volatility, and Twilio (TWLO) has been one of the fastest growing stocks of a generation. That being said, adding to the position requires caution and patience as stocks that go up in a hurry have a higher likelihood of dropping just as quickly.

This Week’s Moves

*No Moves This Week*

The market has taken a vacation from extreme volatility the past two weeks. That means it’s time to sit on my hands, smile, and wave as the market passes me by.

With no positions rising in value, there’s nowhere to take profits. With no positions dropping significantly in value, there’s nowhere to add.

Just sit.

And wait.

It’ll happen…