Hi all, just a reminder that I’ve been at the hospital with my newborn daughter for the last week as we are scheduled to take her to our Albuquerque rental home tomorrow. She has miraculously improved her health and functioning every day for six weeks now and she is probably the healthiest and happiest Trisomy 13 baby ever. I’ll be back with a few posts and will be at the Weekly Live Q&A Chat next week at 2pm EST on Wednesday. And I plan on being back to a more normal TradingWithCody schedule of at least one post/report/trade alert/etc per day the next week after, starting August 17.
Remember when I kept pleading with all of you to trim back some of your longs while so many of our stocks were up huge and our portfolios rocking? Now I see opportunities to nibble rather than trim. Ebb and flow and using the price and time of the markets to our advantage is part of how we keep our edge. So, a couple Trade Alerts to mention today.
Twitter looks like it’s on its way to the $25 level that I’d mentioned it might hit while CEO-less, as the company is right now. My Twitter is still a position that I’ve left lots of room to add to, and I’m going to nibble a little more now, about another 1/10th tranche position, leaving some room to add more if the stock does get to $25.
FitBit reported an absolute huge blowout quarter beating every analyst estimate and raising estimates across the board for the rest of the year. I’ll be updating that FitBit revenue and earnings model I built and shared with you a couple weeks ago when I started nibbling on this position, but long story short — the company is indeed on a much higher growth trajectory than Wall Street realizes. The stock subsequently rallied 15% and is now back down to where I bought that first tranche a couple weeks ago, partly because the stock has just been so strong heading into the report. I’m going to nibble another 1/4th tranche here, making this position about 1/2 as big as I plan on building it.