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Trade Alert: Getting a bit more defensive

January 29, 2020 by Lori Willard Leave a Comment

Good morning and welcome back to the circus. Coronavirus has gotten worse in the last two days, but the markets are looking past it for now, as I’d expected them to. However, after doing the Latest Positions round up and looking at our returns already this year, I’m going to go ahead and trim a little more across the board today, maybe 5% of most of my positions — just to get a little more defensive and raise a little more cash while our positions are in rally mode. I’ll remain net long overall and I’m far from bearish, but I’d rather trim into this current set up than load up into it.

On that note, I am going to go ahead and sell our BA today. As I’d noted in the most recent Latest Positions write up: “How Boeing has handled the entire 747 Max tragedy has been disgusting. I’m sick of holding this stock and truly shocked at the emails that we’ve seen released that warned about the Max before it hit market. On the other hand, it sure looks like a lot of this crisis is already priced into the stock and if IF Boeing can start delivering Max jets again in the next year, there are many years worth of deliveries ahead. All that said, it wouldn’t shock me to see BA get hit another 10-20% before bottoming, even if everything works out.” I’ll probably just hold onto the few BA puts I bought as a further hedge for now.

Also, I forgot to mention Spotify SPOT in my Latest Positions round up. I’d rate SPOT an 8/10 right now and I’d buy more SPOT near $140. The company continues to take market share from everybody but Amazon and establish itself as the de facto standard music and podcast subscription business and could hit half a billion subscribers this year.

Lastly, be sure to join me this morning (Wednesday January 29) at 10am ET for this week’s Live Q&A Chat. Come directly to the TWC Chat Room or just email us your question to support@tradingwithcody.com.

Related posts:

Trade Alert: Taking profits on EZ Chip and update on Synaptics
Trade Alert: A little space nibble (and a pic of my unicorns)
Year Review And Predictions For 2022 (+ Trade Alert: Basket Of Beaten Downs)
Trade Alert: Take some profits into the euphoria
Trade Alert: Crypto Stock Idea
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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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