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That was one of the biggest come backs that I've seen in a long time. The markets all opened red, even though the premarket was all green. Shortly after opening bell, they decided to sell off more and I made a decision to not dollar cost average more. Amazingly enough everything finished green for me; what a ride that was.
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My portfolio finished up 1.5% yesterday. I'm still down on the week, but I am anxiously waiting for a green Friday for tech.
$ARKK: Ark Invest Innovation ETF is bouncing off of the 180MA currently. For me, this is very, very good deal territory. I think there are a lot of new investors, or possibly boomers, that are scared to jump into this right now since its lost over 30% of its value. Innovation is the future, especially for the millennial and gen-z generations. Cathie Woods stated earlier that she believes 50% of the stocks included in the S&P index will be greatly affected by disruptive innovation stocks. She also said that this is about to be the greatest transfer of intergenerational wealth.
I tend agree with her on this. I compare it to the people that think Tesla is overpriced because at current and future valuations, they need to sell more than 50% of the world's cars for that to make sense. I know, for some, it is a hard thing to grasp, that Tesla is a software and tech company, not just a car manufacturer. Maybe a lot of people have a hard time to grasp this, and other companies growth and disruptive potential because their lives haven't been personally impacted by this new technology.
The takeaway is that there are a lot of traditional and cyclical investors that are about to miss out on huge gains. I currently have LEAPS on almost all of the ARK ETFs and I plan to DCA more into them now that they are mostly around the 180MA. I do believe that $ARKK can hit $200 by the EOY as long as tech and growth rebound, and with that said I give $ARKK and the other ETF's a risk of 4. I'll be DCA more into January 2022 LEAPS at Friday's opening bell.
Target Price: $200
Timeframe: 7-10 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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