November 22, 2019 

 

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).

The Week’s Biggest Winner & Loser

Canopy Growth (CGC)

For the last time in the Speculation in Play portfolio, Canopy Growth Corp (CGC) goes from last week’s Biggest Loser to this week’s Biggest Winner, adding +20.09% off its $13.81 low following news that the House of Representatives passed a bill to legalize recreational marijuana use.

Virgin Galactic (SPCE)

Virgin Galactic (SPCE) is nothing but turbulence, suddenly losing -21.49% this week on absolutely no news making all-new lows and earning itself a solid place as this week’s Biggest Loser.

Portfolio Allocation

Click charts for enlarged versions

Positions

%

Target Position Size

Portfolio Breakdown

Year-to-Date Performance

Current Position Performance

AMD (AMD)

+1591.14%

1st Buy: 1/10/2019 @ $19.54
Current Per-Share: $2.32

Yeti (YETI)

+86.02%

1st Buy: 2/26/2019 @ $23.23
Current Per-Share: $15.63

Tradeweb Mkts (TW)

+25.80%

1st Buy: 4/8/2019 @ $39.22
Current Per-Share: $35.45

BiliBili (BILI)

+19.66%

1st Buy: 3/7/2019 @ $17.68
Current Per-Share: $0.00

Twitter (TWTR)

+0.81%

1st Buy: 10/30/2019 @ $29.79
Current Per-Share: $29.79

Canopy Growth (CGC)

-17.51%

1st Buy: 8/21/2018 @ $38.28
Current Per-Share: $0.00

Virgin Galactic (SPCE)

-17.90%

1st Buy: 10/31/2019 @ $9.87
Current Per-Share: $9.26

Pinterest (PINS)

-21.03%

1st Buy: 5/16/2019 @ $25.72
Current Per-Share: $23.62

Revolve Group (RVLV)

-39.31%

1st Buy: 6/13/2019 @ $39.06
Current Per-Share: $25.25

* Indicates a position where the capital investment was sold.
Profit % for * positions = Current Gross Profit / Original Capital Investment

This Week’s Moves

BiliBili (BILI): *Closed, +19.66% Gain*

BiliBili (BILI) reported decent earnings on Monday after the bell, however the stock saw no pop from the report. As I mentioned last week, I’ve been wanting to clean up the Speculation Portfolio to make room for new strategies in 2019 so I was targeting cannabis and Chinese stocks for removal.

I sold the remainder of my BILI position on Tuesday at $16.40, capturing a lifetime gain of 19.66% on the investment since my first buy on March 7, 2019.

BILI closed the week at $16.59, up +1.16% from where I closed on Tuesday. 

Canopy Growth Corp (CGC): *Closed, -17.51% Loss*

Canopy Growth Corporation (CGC) lost support on Monday and made a run for new lower-lows which triggered stop loss orders closing my position at an average selling price of $15.10 on Monday before CGC bottomed at $13.81 on Tuesday.

The sale closed my position, locking in a lifetime loss of -17.51% for the position which I first opened on August 28, 2018 at $38.28 a share.

There’s an old trading adage “your first loss is your best loss” but that definitely wasn’t the case when Canopy bounced 50%+ off its lows Tuesday-Thursday, rocketing from $13.81 to a high of $20.66 on Thursday.

The bounce came when the U.S. House of Representatives passed a bill that signaled the potential of Federal legalization of cannabis in the U.S. on Thursday, reported MarketWatch.

While the House warned that the Senate may take its time passing its own bill, the combination of the news with the supreme oversold nature of the sector caused an epic “short squeeze” and news pop.

Since this kind of news-based reversal is incredibly rare and was basically a perfect storm for CGC with the combined oversold conditions, my taking the loss on Monday was a good thing. Rare events are not worth skipping on my trading discipline; it was imperative I took the loss when I did, but, man, that kinda sucks.

All this being said, the pop was great for my CGC position in my Investments in Play portfolio and readers should refer to that section for future CGC coverage (as well as a more profitable way to play this bounce).

CGC closed the week at $18.41, up +21.92% from where I closed on Monday. 

Pinterest (PINS): Added to Position

Pinterest (PINS) lost support several times throughout the week, triggering a trailing stop order at $19.52 I had in place to add a small amount to my position which filled at $19.42 on Monday. Then, on Friday, PIN reached for lower-lows triggering a trailing stop buy order when it broke $19.00 which filled at $18.84.

The orders combined to lower my per-share cost by -5.97% from $25.12 to $23.62. My next buy target for PINS is $18.04 (a level determined using Fibonacci Retracement analysis) and my first sell target is $26.45.

PINS closed the week at $18.65, down -2.51% from my $19.13 average buy price.

Tradeweb Markets (TW): Profit-Taking

Tradeweb Markets (TW) showed strength on Monday trying to break through the $44.00 resistance when I took profits at $43.90.

The sale reduced my per-share cost -4.56% from $37.14 to $35.45. My next buy target for TW is $40.04 and my next sell target is $46.25.

TW closed the week at $44.59, up +1.57% from where I sold on Monday. 

Virgin Galactic (SPCE): Added to Position

Virgin Galactic (SPCE) broke through support on Thursday, crossing well below $9 and triggering a trailing stop order I had in place to add to the position which filled at $8.64. 

The buy order lowered my per-share cost by -3.24% from $9.57 to $9.26. However, I am adding very slowly to this extremely speculative position.

And it’s a good thing I’m building this position slowly, too! On Friday, SPCE completely fell out of the sky, dropping to a new low of $7.27 – a drop of more than -15% in a single day – before finding any support. Plus, this drop was on absolutely no news.

Given its erratic price action (SPCE has dropped more than -43% from its all-time high) and no way to make revenues at the present time, I’m holding pat with no plans to buy until something settles out.

SPCE closed the week at $7.60, down -12.04% from where I added Thursday. 

Want Further Clarification?

As always, if you have questions about any of my positions or have positions of your own that you’re curious about – feel free to leave a comment below!

See you next week!

Don't get mad, Get Irked and learn how to invest for yourself!

 

Disclaimer: Eric "Irk" Jacobson and all other Get Irked contributors are not investment or financial advisers. All strategies, trading ideas, and other information presented comes from non-professional, amateur investors and traders sharing techniques and ideas for general information purposes.

As always, all individuals should consult their financial advisers to determine if an investing idea is right for them. All investing comes with levels of risk with some ideas and strategies carrying more risk than others.

As an individual investor, you are accountable for assessing all risk to determine if the strategy or idea fits with your investment style. All information on Get Irked is presented for educational and informational purposes only.