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Trade Alert: Lots of stocks down big out there

March 7, 2019 by Cody Willard Leave a Comment

The markets have started to trend a bit lower and there are thousands of stocks that were are now down 10-20% or more. Many of which are great companies who had terrific results but were clearly overbought at their recent highs, including, say, PANW which I was adding to earlier this week. Two others were SPLK and ZEN, both of which I’ve nibbled on some starter positions.

On the other hand there were thousands of stocks that had rallied with the broader markets off their December lows, many of which are not so great companies who have not had great results and were clearly overbought at their recent highs and are now down big, including, say, Dycom which I let go of earlier this week for a loss. We might want to find some shorts out there in this category.

I’m in a position in the hedge fund where I don’t mind if the markets rally (so that my net long portfolio can also rally) but I’m also in a position that I’m looking to scale into my longs (slowly in drabs and a bit more aggressively if the markets would fall another 3-5% from here).

I continue to be patient and am not what I’d consider to be “fully” invested in the hedge fund just yet.

Also, just a note that I trimmed a few of the DELL call options, just a few of the ones that are highest priced as I have big profits in them and want to cut down their size.

 

 

Related posts:

Trade Alert - Reflexivity (And adding to a ramping stock)
Trade Alert: Buying puts on an ETF
Trade Alert: Using the mini-crash to buy some stock back
Trade Alert: The Great Reset Ain't Over
Trade Alert: The hardest trade?
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Filed Under: Trade Alert

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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