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Today was a mixed day, but mostly flat. There were a lot of stocks off my watchlist pull back closer to the 'Buy Zone'. This could be a good opportunity to start dollar cost averaging into some long term positions. Most notably, the ARK Invest ETF's pulled back with K, G and Q more than 1%.
Notable Recent Picks:
My portfolio is down -0.58% today, mostly because TSLA dropped 5%.
Positions filled, including closing for profit/loss. $IPOD was the only one I closed for a loss of $110. I'll reevaluate that one later. Remember, the higher the risk, the smaller the position should be.
Current open and closed options positions since January 27th.
Adding to Watchlist:
$BIDU: Baidu is basically the Google of China. There is a rumor I've recently come across that $BIDU reportedly aims to address chip shortage plaguing the gaming, crypto and car industries. The are considering setting up a dedicated subsidiary backed by crypto-friendly venture capital firms. There is a global chip shortage, partly fueled by the rise of BTC and partly by Covid-19 uptick of gaming. Baidu has a strong grasp on their market in China; they aren't going anywhere, so even if the rumor falls short, it is still not a bad hold. I'd b interested in mid term calls.
Target Price: $330
Timeframe: 1-2 months
$BLDP: Ballard Power is a developer and manufacturer of proton exchange membrane fuel cell products for markets such as heavy-duty motive, portable power, material handling as well as engineering services. A day ago, they launched a $350M bought deal offering at $37a share which was $3 under the market price at that time. This caused the price to drop 13% today. If you take a look at the chart, it looks like $BLDP could stand to drop another 5-10% and fill the gap from January. I'd set that as a buy zone to pick up cheap shares, or mid-long term options. Overall, this company is set to have continued growth, and I think this sell off is temporary.
Target Price: $45
Timeframe: 3-6 months
$ELY: Looks like earnings came up short and Callaway has entered our 'Buy Zone'. Here is the chart from a couple days ago when we first wrote about it. (you can go back and see our past write up on $ELY)
Here it is today:
I see some people thinking it is not a good buy anymore, but when I first drew the 'Buy Zone' I believed then that it would hit it and is a good buy at those levels. My opinion on $ELY hasn't changed. Congrats to anyone that picked some ELY up.
$FUTU: Another one that we called correctly from yesterday's write up report. It was up 9% today overall, but right after opening bell, you could have taken profits at around $204. I'll keep watching this one to pull back further into the 'Buy Zone'.
$ARKK/$ARKG: Like stated above, the ARK ETF's are on sale today. Usually when that happens, I will add money to these positions in some way.
Note: Risk (1 out of 5) is my opinion of how risky the stock and these plays are; 1 being the lowest and 5 is the highest.
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