Portfolio Update – WEEK 37 (September 07th to September 13th)
Good morning,
Hello, how are you all?
For the week, the portfolio slipped -5.51%, for the year, the result is fine, +43.90% YTD and for Setember -12.2%. I remain confident in technology companies especially. In conclusion, the strategy continues to work surpassing the three main Wall Street indices. Check it out the portfolio stats https://etoro.tw/2UHOvRc .
In case of any doubt, you can access the FAQ of my blog: https://santiago1000.it/en/#faq
(Seeking Alpha) Technology stocks again faded down the stretch Friday, pulling the Nasdaq down for the fifth time in six sessions, although some late buying limited the damage. The tech-heavy index closed down -0.6% to cap its poorest weekly performance since March, off 4.1%. Selling picked up after Dr. Anthony Fauci said the latest data on the U.S. COVID-19 outbreak was “disturbing,” with a worrying level of new infections even as the number of daily new cases remains far lower than the peak. Meanwhile, the Dow and S&P 500 eked out gains on the day but fell for the week by -1.7% and -2.5% respectively. Apple fell -7.4% for the week but managed to fight back from being down 20% from its recent highs.
Here is the detailed weekly income of the positions that make up the portfolio:
STOCKS
ZM – Zoom Video Communications, Inc. +3.54%
MA – Mastercard Incorporated -1.45%
ENPH – Enphase Energy, Inc. -1.59%
PAYC – Paycom Software, Inc. -1.94%
FTNT – Fortinet, Inc. -2.10%
NVDA – NVIDIA Corporation -3.63%
PYPL – PayPal Holdings, Inc. -4.09%
GOOG – Alphabet Inc. -4.42%
MELI – MercadoLibre, Inc. -4.65%
MSFT – Microsoft Corporation -4.77%
TTD – The Trade Desk, Inc. -5.13%
AMZN – Amazon.com, Inc. -5.41%
SEDG – SolarEdge Technologies, Inc. -5.47%
FB – Facebook, Inc. -5.70%
SHOP – Shopify Inc. -6.01%
FSLY – Fastly, Inc. -6.03%
NFLX – Netflix, Inc. -6.59%
AMD – Advanced Micro Devices, Inc. -6.91%
AAPL – Apple Inc. -7.41%
TSLA – Tesla, Inc. -10.90%
LULU – Lululemon Athletica Inc. -13.29% (earnings reported 09-10-20)
No portfolio changes this week.
Stocks/ETFs on my radar and that interest me: COUP, ADBE, VEEV, SQ and TLT.
‘Nasdaq Whale Theory’
Reports suggested Japanese investing conglomerate SoftBank (OTCPK:SFTBY) loaded up on options in tech stocks over the past several months and was sitting on $4B in gains. With the positions “now known,” SoftBank shares fell 7% in Tokyo on Monday, shedding about $9B in market cap. Others, like Benn Eifert, chief investment officer of hedge fund QVR Advisors, estimate the strategies pursued by institutions like SoftBank would have a minimal effect on market volatility. He said the real power was being exercised by day traders buying enormous amounts of call options on tech stocks, which have created a virtuous hedging and buying cycle pushing stocks upwards.
Rumblings in the EV space
Suffering the largest one day drop in its history, Tesla (NASDAQ:TSLA) shares plunged more than 21% on Tuesday as S&P Dow Jones Indices decided against adding the EV maker to the S&P 500. While Tesla tanked, electric vehicle newbie Nikola (NASDAQ:NKLA) soared over 40% after inking a partnership with GM (though the stock changed directions following a short report from Hindenburg Research). Shares of Tesla also reversed later in the week, this time pointing higher, after demonstrating new supercharger equipment in Berlin.
Growing media backlash
The social hashtag “#CancelNetflix” (NASDAQ:NFLX) reached Twitter’s top trending topics as the streaming giant faced heavy flak over sexualizing young girls in its controversial film Cuties. Disney (NYSE:DIS) was meanwhile dogged by criticism over its live-action remake of Mulan. The studio filmed some of the movie in Xinjiang, where China is accused of committing rights abuses against millions of Uighur Muslims, while lead actress Liu Yifei has publicly supported the police crackdown in Hong Kong.
Weekly Market Movement Wrap
U.S. Indices
Dow -1.7% to 27,666. S&P 500 -2.5% to 3,341. Nasdaq -4.1% to 10,854. Russell 2000 -2.5% to 1,497. CBOE Volatility Index -12.6% to 26.87.
S&P 500 Sectors
Consumer Staples -1.3%. Utilities -0.8%. Financials -2.4%. Telecom -3.3%. Healthcare -1.1%. Industrials -0.3%. Information Technology -4.4%. Materials +0.8%. Energy -6.4%. Consumer Discretionary -1.9%.
Thanks for reading.
Have a good one,
Santiago
