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:
Up

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

Comments:
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!