March 22, 2019 

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Highlights from the Week

Biggest Winner: AMD (AMD)

Alphabet’s (GOOG) announcement that they would be using AMD (AMD) in their upcoming Stradia video game streaming service led AMD to rocket higher, closing the week up 13.22% at $26.37 and our position up 52.16%.

Biggest Loser: Cronos Group (CRON)

The entire cannabis sector got slammed as the market pulled back on Friday, however Cronos Group (CRON) got hit harder down -8.34% versus Canopy Growth’s (CGC) loss of -2.59%. Cronos closed the week at $19.23 with our position up +53.93% and Canopy closed the week at $44.38 with our position up 1,842.23%.

This Week’s Trades

BiliBili (BILI)

BiliBili (BILI), China’s YouTube, continued to show strength at our price point of $17.68 as the Exponential Moving Averages (EMAs) are rising to meet the price with the 50-day continuing to provide support despite disappointing earnings about three weeks ago.

We added to our position at that level with additional buys set at lower EMAs. BILI closed the week at $17.21 with our position down -2.66%.

Canopy Growth Corporation (CGC)

Canopy (CGC) pulled back with the rest of the market on Friday, tripping a limit buy order we had in place to increase our position size at $45.28. Our new position per-share price is $2.29 (yes, $2.29 thanks to incredible profits taken on CGC’s first run to nearly $60) CGC closed the week at $44.38 with our newly-increased position up 1,842.23%.

Corbus Pharmaceuticals (CRBP) *Closed Position*

We kept a close eye on Corbus Pharma (CRBP) after it bounced back from recent lows to rise above our per-share cost.

When CRBP started to roll over on Wednesday, we decided to maintain our discipline toward diversification and eliminate the position from our portfolio as we are overweight the biopharma sector with too many positions, setting a stop-loss order at $6.94 which CRBP tripped, closing our position at $6.92 for a 2.04% gain. CRBP closed the week at $7.05, 1.88% higher from our selling price.

Cronos Group (CRON)

Cronos Group (CRON) pulled back on Thursday after spending the past several weeks consolidating between $19-25. We added to our position at $21.08 and $19.38 as we begin a more aggressive strategy in our cannabis trading.

Our larger position’s new per-share cost is $12.49 with Cronos closing the week at $19.23 and our position up +53.93%.

Insys Therapeutics (INSY) *Cost Basis Removed*

Insys (INSY) saw a bounce midweek after the oversold conditions following last week’s negative auditor’s report. To protect against further downside, we set a stop-loss order to take out our cost basis which was triggered when INSY pulled back below $4.67.

With no initial capital investment remaining, we’re letting our profits play out with INSY closing the week at $4.41 and our position +372.21%.

Tencent Music (TME)

Tencent Music (TME) hit an all-time high of $19.97 before releasing a terrible earnings report on Tuesday, slaughtering the stock down more than 15%.

We started to add a tiny bit back to our position when the stock showed oversold conditions at $16.85, creating a new per-share cost (we had sold our cost basis previously) of $10.31.

From here, we wait to see future price action before adding more to the position. TME closed the week at $16.98 and our position up +64.66%.

TransEnterix (TRXC)

TransEnterix (TRXC) continues to struggle within its trading zone as it once again tried to dive to the $2.00 mark this week.

Unable to resist a “bargain,” we once again added to our position at $2.21 to lower our cost per-share to $2.45. TRXC closed the week at $2.22 with our position down -9.30%.

Questions?

As always, If you have questions about how we’re playing different positions or anything at all, really, feel free to leave a comment below!