Week 3/15 – 3/19 2021

The market finished off the third week of March with, what looks to me as, a continuation to the downside. This does slow down trading, market indecision doesn’t mean trader/investor indecision. The plan at the moment is to look for stocks that are still performing well and also to look for stocks that would be great plays months from now when the downside ends. Patience is the key here, there is no trades then I sit and watch for opportunities to reveal themselves.

This week, I sold EBAY, CSCO, PPG, and XLNX, in favor of a new position. I also received a small dividend from EBAY.

 

Portfolio Recap:

Account Value as of 3/15: $1,169.48

Account Value as of 3/19: $1,153.47

Increase of $16.17 or 1.42%

 

 

Account Positions:

 

TU – Telus Corp

Last week’s total gains: $1.55, 0.52%

This week total gains: $(-5.17), (-1.74)%.

Current Price – $20.86

Entry – $21.23

Stop – $20

Risk (in Dollars) per share  – $1.23

Risk (in %) – 5.8%

Note: TU is still hanging in there. What I find amazing about this stock is that its staying above $20. As I mentioned when I started this position there has been a multiple year range between $16-19, from 2013 until now. Hopefully this is the breakout.

 

U – Unity Software

Last week’s total gains: $7.71, 7.87%

This week total gains: $2.70, 2.76%.

Current Price – $100.53

Entry – $98

Stop – $85

Risk in Dollars – $13

Risk in Percentage – 13.27%

Number of Shares: 1

Note: Unity fell this week along with the other stocks in the Tech sector. Although the stop is set at $85 there is a good possibility price could continue to fall and reach my stop. At the moment let continue to hold and watch what happens. It could turn for the best or turn for the worst, there is no way to tell what this or any stock will do in the future.

 

POWW – Ammo Munitions Inc

Sector – Consumer Discretionary

Number of Contracts: -1

Expiration: April 16, 2021

Days until Expiration: ~27 days

Strike: $7.5

Premium: $1.93

Current Price: $1.70

Note:

I liked the chart pattern on this stock. Its a low cost stock that has good chart pattern on the Monthly, Weekly, and even daily. Now, is a short option position meaning I was paid a premium first. How I make money on this position is if POWW goes above $7.50 and stays above by expiration, in which case I keep the full premium. Also, if POWW doesn’t go and stay above $7.50 I still earn a little bit of the contract’s value each day due to time decay.

However, my intension is to let the shares get assigned to me if possible and I can sell do some covered Calls against the shares. In the unlikely chance I don’t get assigned I will continue to sell more puts after the expiration.

 

 

Orders From The Week

Thoughts Of the Week

I believe the hardest thing for a trader is to not do anything. Sometimes there are no opportunities or there are opportunities that requires waiting. Its easy to let FOMO set in while waiting, no one likes to feel like they are wasting time. However, being able to just is a skill and an important skill to have. One skill I’m constantly working to improve.

Thank you for following and please leave a comment. Also feel free to leave any questions in the comment, I’ll try my best to address them all.

-Keng Vang