Risk Disclaimer

The positions in this portfolio are incredibly risky and extremely volatile.

No one at Get Irked is a professional financial adviser (or a doctor), so consult with your own financial adviser to see if any of these positions fit your risk profile (and stomach).

Virgin Galactic (SPCE)

Just as investors rotated out of cyclicals this week, they also rotated out of growth tech stocks with no income. The leader of this type of stock is almost certainly Virgin Galactic (SPCE) as it still isn’t commercial, yet. As a result, Virgin Galactic crashed -16.30% this week, earning itself the spot of the Week’s Biggest Loser.

Airlines ETF (JETS): Added to Position

I decided it was time to replace some of the shares in the Airlines ETF (JETS) that I sold earlier this year when it pulled back on Friday with a buy order that filled at $17.42. The buy locked in a -12.02% discount on shares I sold for $19.80 on January 19, and put capital back into the position, raising my per-share cost +$6.83 from -$2.68 to $3.95.

From here, my next buy target is $14.84, slightly above JETS’ low in 2022, and my next sell target is $21.16, just under its 2023 high.

JETS closed the week at $17.52, up +0.57% from where I added Friday.

Lyft (LYFT): Profit-Taking

Ride-sharing companies Lyft (LYFT) and Uber (UBER) rallied into the end of the week on the back of news that laws in the works may benefit the two companies. As a result, LYFT popped near $10 on Friday where I decided to take profits and trim the position as it sold off much further than I was anticipating.

My sale went through at $9.95 and locked in just +2.05% in gains on shares I bought for $9.75 and lowered my per-share cost just -0.51% from $9.75 to $9.70. As I mentioned, the primary goal of this sale was risk management, not to actually take significant profits.

From here, my next sell target is $12.40, below a past point of resistance, and my next buy target is $8.20, slightly above Lyft’s recent low.

LYFT closed the week at $10.06, up +1.11% from where I took profits Friday.

Short QQQ (QID): Added to Position

When the NASDAQ (QQQ) bounced and saw a bit of a relief rally later in the week, it pushed the UltraShort ProShares QQQ inverse ETF (QID) down to my next buy target which filled on Thursday at $20.05.

The buy only lowered my per-share cost -0.25% from $20.20 to $20.15 as I wanted more exposure to potential downside risk as this newfound market volatility has motivated me to have more hedges on, particularly in my speculative portfolio.

From here, my next buy target is $18.55, right at a key point of past support, and my next sell target is $22.45, just under a past point of resistance.

QID closed the week at $19.56, down -2.44% from where I added Thursday.

SPDR Regional Banking ETF (KRE): *New Position*

After the FDIC shut down Silicon Valley Bank (SVIB) on Friday and then took out Signature Bank on Sunday, the SPDR Regional Banking ETF (KRE) was sent into freefall once more on Monday, so, naturally, I decided this was a good time to (SLOWLY!) start a position in the battered ETF.

My first buy filled at $44.17 Monday morning. On Thursday, I decided to increase my tiny allocation with a second buy at $43.23 which lowered my per-share cost -1.06% from $44.17 to $43.70.

From here, my next buy target is $37.25, slightly above a past point of key support, and my next sell target is $56.90 just above a gap-fill that KRE might bounce to if it sees a sudden relief rally soon.

KRE closed the week at $43.44, down -0.59% from my $43.70 average buy.