MaR Dec 22 2020

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Market Report for Dec 22 2020

184 Focus on trends that will play out over the long-term

Market Trend:

Market YTD:
Nasdaq Composite +42.0% YTD
Russell 2000 +18.1% YTD
S&P 500 +14.4% YTD
Dow Jones Industrial Average +5.9% YTD

Market Volume:
NYSE Vol: 1.1 bln (A)
Nasdaq Vol: 5.1 bl (A)

New Positions:
EDIT @78.93
NVTA @49.90

Growth Portfolio % of Return:
Stocks: +2072.03
FX & Comms: -5.25

PORT Dec 22 2020

Volume levels are higher than normal. Volatility is increasing. Watch how this market plays out and be ready.

As you have all heard me say many times, you only need a few good trades a year to have a good year. The difficulty is always in the search for the good trades which is not easy.

We have a few standouts this year but one that came out of nowhere was EDIT which has moved up almost 200% in only 28 calendar days. We had anticipated a move in EDIT in around 1.5 years time but price found strength a lot sooner than that. However, the second move was not a surprise which we had been waiting for as you cna see from the post below. Unfortunately, price moved up so viciously that our fail-safe buy stop was triggered taking us in a lot later than we wanted. However, the original partial position + new partial position made for a pretty penny. This is a long term trade so near term moves are not what we are focussing on but bull moves up are always welcome.

EDIT Dec 22 2020

Have a good trading day.

Let’s go trade!