Trade Alert: What I’m Buying Here
Remember when I said we were in a major Blow-Off top in tech stocks back in November? Since that article, many giant cap stocks like CRM and SHOP and almost all of the speculative stocks and even Cathy Wood’s ARKK ETF are down 40-50% or more. In ten weeks’ time! This is the other side of the bubble now and the carnage in small cap speculative and especially post-SPAC names is everywhere. It’s certainly gotten ugly out there. Traders’ fear and pain are palpable. Traders’ greed is forgotten. I’m doing a little buying, though I’m far from making a stand of glory here.
I’m buying a first tranche of about 1/3 of a full position in INTC (more on this later) and W (more on this later). I added a small tranche to the following existing names in the portfolio:
CDXS, KD, RKLB, UBER.
In the hedge fund, I’m covering some more shorts, including most of the QQQ and I also bought a little AMZN and GOOG.
Be careful, but be open the opportunities that are arising here in this broad sell-off.
No chat this week. I’m going to take my wife away for a night for our anniversary tomorrow.
