Wow, today was a bit of a roller coaster.
Pre-market saw a big selloff and my account value dropped about 1.7% (or around $30) before the markets even opened. There was a late rally and in the last 2 and 1/2 hours of market open I swung up to a gain of just over 2%.
Ultimately, my account value ended the day at $1,697 (up just shy of 2%).
Today’s Positions
- Canopy Growth Corp. (CGC): 40 shares @ $24.88 (5.51%)
- YETI Holdings, Inc. (YETI): 10 shares @ $26.62 (-5.77%)
- Baytex Energy Corporation (BTE): 200 shares @ $1.26 (-1.56%)
- Microsoft Corp. (MSFT): 1 share @ $136.04 (-1.32%)
My positions in YETI and CGC duked it out today. I made just over $43 with Canopy’s move, but YETI tanking nearly 6% cost me $15.50.
I’m still down about $500 total in my Canopy shares. Ouch! That’s still painful to see. I have yet to decide if its something I’m willing to put all my eggs into.
Checking into a few fundamentals, all four companies appear to be still in the buy or hold zones. So I’m not chomping at the bit to sell out unless something suddenly has a big move.
Microsoft is probably the one I’m most willing to sell at the moment. I think they are doing fantastic on just about all fronts (moving everyone to a subscription model for Office and Windows, and continually deploying best of breed solutions in Azure).
Their chart’s technicals are just kind of sitting at the middle of the road between buy and sell at the moment. So I think I could always sell that single share off and wait for a more opportune time to buy in.
I also checked in on Tailored Brands (TLRD) and Sportsman’s Warehouse (SPWH) from Michael Burry’s comments the other day on the bubble he’s seeing in passive index funds (and the underlying stocks) and opportunities for small cap winners. Both of these companies have mixed technicals and are still not quite in the buy range for me. TLRD had a big jump up almost 6% shortly after market open this morning before ending the day down about 1.5%.
Alas, I’ll keep waiting.
FNMNY 