Covid Fears At Home As Markets Find A Bounce
It’s never easy around here. It seems that my oldest daughter, Lyncoln, was exposed to Covid when she spent the night with her cousin at my parents’ house Saturday night. She’s now come down with symptoms and although the rapid tests have been coming out negative, I am taking her to get a more accurate test at a testing facility. We have spent the last two plus years being incredibly vigilant about avoiding exposure to Covid because having a littler daughter who’s medically-fragile, on oxygen and breathing through a trachea tube in her neck since birth and who has been hospitalized for weeks after just getting the flu a few years ago…exposing her to Covid is not something we take lightly. Amaris’ day nurse who usually watches Amaris on the weekdays so my wife can work part-time and otherwise have a life, has been out for two weeks and will be out for another two weeks after her own foot surgery. My wife is a rock and an angel and I don’t know how she holds all of this together right now, but she is pulling it off. I’m quarantining with Lyncoln for the rest of this week and/or until she gets over this while my wife will hunker down and take care of Amaris with no help from me or anyone else for the next few days at least too.
The markets finally bounced yesterday and bigger today as the sellers finally dried up, at least for now. Earlier this week, in the hedge fund, I did end up buying more JD as I’d said I would in the chat last week and I also nibbled some of our longs when they got hit another 10% like I’d said I would in both articles I wrote last week.
Today I’m mostly sitting tight although I am doing a little nibbling on some put hedges using SOXX, SMH, VWO and even some AMD puts. We are not out of the woods with this economy or these markets as we navigate this new global order that is just now developing as inflation is high, supply chains are disrupted and the Popping Of The Great Bubble-Blowing Bull Market plays out. This is getting to be a stock picker’s stock market finally, as buying great names at cheap valuations will be rewarded while the crappy speculative and fraudulent stocks will likely continue to get wiped out.
Stick with our best names, including INTC, UBER, FB, BABA, JD, QCOM, TSLA, PYPL, KD, RKLB, etc, but avoid being greedy just because the markets bounced off those panicky lows they’ve been finding.
I’ll have much more analysis this week and will do a Latest Positions round up over the next few days too. Two other notes…
I host a SKTLs Space Crypto team zoom call every Wednesday at 2pm EST. THIS IS YOUR OFFICIAL INVITE TO SEE WHAT’S GOING ON BEHIND THE CURTAIN AT SKTLs! If you want to volunteer or just want to sit in and listen, click the link below on Wednesday’s at 2pm EST and the host will let you in.
https://us02web.zoom.us/j/81202284137?pwd=cGRuNVNFMnhDaG5uWjRVeEt5Zi9Ldz09
We’ll do this week’s Live Q&A Chat on Friday at 11am ET in the TWC Chat Room or just email us your question to support@tradingwithcody.com. I’m not sure I’ll have time to write anything up while I’m gone but if something crazy happens to the markets, I will certainly find the time.
