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Yesterday was a good day for tech and the Nasdaq. As the ten year treasury pulled back to 1.68%, the $QQQ raced back to the key 50 day moving average. For the most part, I've still got my portfolio and positions consolidated. When tech started pulling back a month ago, I cut all of my shorter term options and prepared for a bigger pull back. It paid off in the sense that I cut the losses from future worthless option contracts, and I used the capital raised from them to dollar cost average my larger, longer term positions. Until the $QQQ is above the 50MA for two consecutive days, my conservative brain is telling me to play it safe and not get into to many short term option plays.
I spend most of my time DCA into my longer term commons yesterday, and although boring, see myself doing more of the same today. It is tough out there to say the least. One day you find the cyclical rotation to be a real thing, and the next day all the financial sector is hemorrhaging. Sometimes you make less mistakes if you just don't do anything. My portfolio is up almost 5% including the pre-market today.
Notable Recent Picks
Adding to the Watchlist:
$CBD: Companhia Brasileira de Distribuição, doing business as GPA (formerly as Grupo Pão de Açúcar), is the biggest Brazilian company engaged in business retailing of food, general merchandise, electronic goods, home appliances and other products from its supermarkets, hypermarkets and home appliance stores owned by the French conglomerate retail group Casino. Its headquarters are in São Paulo city. The company is the second biggest retail company in Latin America by revenue and the second largest online retailer in Brazil. The company operates its e-commerce through Cnova Brasil, a subsidiary of its subsidiary Viavarejo.
This stock interests me for one because it is in a very fast growing Brazilian market, and two it P/E (TTM) is only 6.8, which seems to have doubled in the last few days. What this tells us is that we are paying less per dollar of profit generated. For comparison, $WMT is $28, $AMZN is $74 and $KR is $9+.
Target Price: $7
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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