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Another bloody day on the Wall St, as markets kept tumbling over rising bond yields. Tech and semiconductors were some of the hardest hit, and my portfolio took one of the worst beatings in a long time. The hedges that I bought on XLK and SMH didn't go up in value. I am thinking they might be to far OTM and not enough volume. I'll continue holding them for now.
With the dollar falling, yields rising and Biden ordering airstrikes in Syria uncertainty is high.
I wouldn't necessarily recommend to pick up to many short to mid term positions in this market climate. The best thing to do, in my opinion, is to DCA into your longer term holds or LEAPS. But nevertheless, I will be adding some to the watchlist for when the market shows signs of life.
Adding to Watchlist:
$MP: Materials Corporation is a producer of rare Earth minerals and elements that are critical in the production of magnets that enable the mobility of electric vehicles, drones, defense systems, wind turbines, robotics and many other high-growth advanced technologies. I'm very bullish on this tech, whether it is clean energy, EV's, ARKQ robotics, and semiconductors. Even though this industry is dipping pretty significantly right now, I see it as a time to buy. I'd be interested in DCA right now for commons or LEAPS due to the market uncertainty.
Target Price: $60
Timeframe: 5-8 months
$DOCU: Docusign has seen immense growth impact from Covid-19 and the lockdown situation. More people stay at home and want to sign electronically. In my opinion that won't go away, and I personally use $DOCU a lot in my everyday life. It has been trading in a nice parallel channel since last summer and the 50/180MA is getting closer together. Assuming $DOCU bounces on the support tomorrow or Monday, this is a good entry point.
Target Price: $300
Timeframe: 3-5 months
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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