Weekly Update Ended August 19, 2017
Another week went by with a mostly negative tone given the continued tensions with North Korea, the massive upheaval in Washington, and the end of ER season, although we continue to have a few stragglers and off-quarter companies still to report.
This week we will hear from MOMOand Broadcom .
We also have the global central bankers meeting in Jackson Hole startingso that could prove to be illuminating.
Global markets are mostly mixed as similar worries that are plaguing our markets have spread overseas while our futures keep flitting between the positive and negative.
Early morning and over-the-weekend UGs and DGs are up in our little room for those that want to check it out.
The jaysomaney.com account ended up 167% year-to-date versus 180% from a week ago and 197% two weeks ago. The liquidation value as of this past is now at $715,644 with $513,134 of that in cash, up from the prior week as I have been a net seller for weeks now. In the prior week ago period, we were up 180% YTD, and liquidation value from the closing levels a week ago was at $752,734 just as a point of easy reference for all of you. The markets were also down for the second week in a row and have been pretty much moribund for the last few weeks now. So, we had a bit of a give back in terms of performance last week, thanks to the NK situation and the massive mess in Washington.
I am not a big believer in the seasonality theory because that is just more Wall Street nonsense to get folks to churn their accounts. Think about that, if all of us sell every May and then buy back in mid to late fall..that's a massive windfall for WS without even having to do any work. It's nonsense put together and parroted by the swamis, pundits, gurus and bobble heads on TV. Simple as that.
ON the flip side, there are not many catalysts for the next several weeks, so there is no hurry until I see an opportunity. Opportunity does not wait on seasons by the way.
Please check your inboxes for a list of trades made last week.
Here we go with the usual part of the update:
Please keep your positions in size with your account size (value). Most importantly please remember that I am running a marathon here and not a sprint. I am in no hurry whatsoever for any position and thus will not enter a position unless I feel the risk/reward is stacked in my favor. Yes, I will occasionally have positions work against me despite the risk/reward prior to the trade but if I was batting a thousand, none of us would be in our little room. We would all be on our own private islands. Even more important for all of us to remember that trades and opportunities will come no matter what the markets are doing.
Please, please don't roll the dice and don't bet on anyone single position without keeping the size relative to your overall account. I promise you even 1 or 2 call options at a time add up to spectacular returns over time.
There is nothing worse than seeing someone (new or experienced) blow up his/her own account by going "all in", long or short. Please avoid those sort of "investments" As my dad used to tell me all the time, "Rome wasn't built in a day".
Remember together we will all get there, wherever that may be for each of us individually.
Not a sprint but a marathon. (This is the most important takeaway for all of us) Will always hold true as far as I am concerned no matter what anyone else thinks on the outside.
Fedheads on tap for this week--
Confirmed Fed Speeches:
- Robert Kaplan ()
On the ER front, we have the following---
- Mon 8/14
- Close: Baozub (BZUN), Zayo Group Holdings (ZAYO), Nordson (NDSN), Premier (PINC)
- Tues 8/15
- Open: Medtronic (MDT), Coty (COTY), Toll Brothers (TOL), Cheetah Mobile (CMCM), DSW (DSW), Daktronics (DAKT)
- Close: ZTO Express (ZTO), Salesfroce.com (CRM), Intuit (INTU), La-Z-Boy (LZB)
- Wed 8/16
- Open: Lowes (LOW), Royal Bank of Canada (RY), American Eagle (AEO), Express (EXPR)
- Close: HP (HPQ), PVH (PVH), Williams-Sonoma (WSM), Guess? (GES), HEICO (HEI)
- Thurs 8/17
- Open: CIBC (CM), Hormel Foods (HRL), J.M. Smucker (SJM), Burlington Stores (BURL), Patterson Companies (PDCO), Signet Jewelers (SIG), Michaels Stores (MIK), Tiffany & Co. (TIF)
- Close: Broadcom (AVGO), VMware (VMW), GameStop (GME), Ulta Beauty (ULTA), Brocade (BRCD), Marvell (MRVL), Autodesk (ADSK), Splunk (SPLK), Veeva Systems (VEEV)
- Fri 8/18
Of interest in techland--BZUN, CRM, INTU, HP, AVGO, VMW, GME, BRCD, MRVL, ADSK, SPLK, VEEV.
We will be done with the price change and I am glad to see that we only had less than a handful of subscriber choose not to renew at the new rates.
I wish those few all the best not only in their trading/investment/coin tosses but also in all the rest life has to offer each and everyone of us. Be safe and thank you.
To all the rest of you who are still here with me, I thank you for the continued support and it's going to get even better once our markets climb out of this dry spell which they will soon enough.
Until next week, may the trading Goddesses/Gods smile on all your trades/dice rolls/coin tosses.