Markets have been pretty FUDDY (Fear Uncertainty Doubt) lately and I haven't been getting the best vibes. However, it's always good to remind ourselves that the worst thing to do in any situation is to make emotional decisions. Rationally speaking, I look at the stocks I own, and I find it hard imagining a scenario where the underlying companies are going to be in a worse position 5 years from now than where they are today. Thinking long-term like this helps drown the "noise".
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Still, that's not to say that I'm not aware of what's going on. I'm constantly adapting & re-evaluating the positions in my portfolio. As you may have noticed, I have been trading lightly these days and keeping tight stop losses on trades..
Today we saw a pop in volatility in the markets. There was a rotation to FAANG stocks with a few of them nearing breakout. OPEC ended an inconclusive meeting today and oil touched a 6 year high (which should be good for EV companies). And finally bond yields fell, indicating that investors are doubting the strength of the US economy. Even though the economy is booming, what seems to be less clear is what's going to happen with inflation on the horizon. Upcoming earnings could fall short of expectations so this might be the market selling off in anticipation. Either way, on my side, the show goes on. If my stocks keep going higher, then so be it I'll keep riding the wave up. If things get much worse, then I'll continue executing on my three part plan. No need to FOMO in this market. Things could change in the blink of an eye and I have no problem waiting for a better entry prices. Focus on not being fearful. Focus on the long-term fundamentally strong investments. 🙏
CleanSpark (CLSK) just announced a new microgrid project in southern California yesterday. They just got added to the Russell 2000. Because of the whole China situations, hash rates have gone down to their lowest point since 2019, which means that it's something like 30% (if I remember correctly) cheaper for CleanSpark to mine Bitcoin. Next quarter results should be interesting...
With Alibaba, the only risk I see here is that the stock is Chinese. Apart from that, I'm looking at a massively profitable & diverse e-commerce giant, expected to grow more than 30% this year. Meanwhile, the stock is historically and comparatively undervalued. Basically, you're buying a massively undervalued Chinese Amazon. They just announced Alipay as an official partner of the 2021 Euro football tournament. Personally I don't think the weakness in the stock will last forever. I'm excited for what the future holds for Alibaba
TTCF recently dropped HUGE news that they are expanding operations internationally over 1 year IN ADVANCE! Things are looking very optimistic with TTCF's recent earnings. Target even said that TTCF's product launch was the best launch they have ever seen! Congrats to those who bought at $15.50! 😏
Other stocks I recently invested / traded include SGTX, SOFI, SSOF, GGPI, NCTY, DIDI, CTXR.
