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Journey to $1 Million - March 31th, 2021

I do live trading on my Twitter and would like to post the real option trades that I am doing, and what my current watchlist is. Follow along on my journey to $1 million.

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Markets:

  • SPY: -0.3%

  • QQQ: -0.5%

  • DIA: -0.32%

Notable Recent Picks:

  • JMIA: +11%

  • CCIV: +10.7%

  • XPEV: +7.5%

All three major indices finished red as tech and semiconductors pulled back a little. However, it was mostly a mixed day as there were technically more advancers than losers and some of those were the ARK Invest ETFs. $ARKX launched, no pun intended, yesterday and it was for the most part uninteresting. I ended up buying only 100 shares, but have some more limit orders set if it further pulls back. I raised capital for the $ARKX by selling off my 125 shares of $PRNT which is one of the top holdings of $ARKX. I will further sell more of my space themed stocks and pile the money into this new space ETF.


For the week my portfolio is down 2.5% and I am not expecting to much with a short week. Historically speaking, short weeks usually finish red.

Notable Mentions:


$TNA: This ETF is the Direxion Small Cap Bull 3X ETF. The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the Russell 2000® Index. $TNA and small caps got hammered during the March, Covid lows, and have since recovered back to pre-covid levels. However, with this sector rotation that we are currently seeing, the ETF has pulled back 20% which isn't as bad as it seems. $TNA has almost lost all of its post covid gains.


Small caps have been beating out other major benchmarks so it is time to move some money back into them. Even most ARK ETFs were beaten back 30%+ and considering $TNA is a 3X bull ETF, 20% seems pretty good, in my opinion. I believe that it is in good deal territory and hard to pass on right now.


What could power more TNA gains is momentum. In theory, the broader universe of small caps can be considered a momentum play, but the factor is applicable here and some small stocks while others don't. About 58% of the small-cap momentum index is comprised of healthcare and technology stocks. Those sectors represent 21.37% and 15.11%, respectively, of TNA's underlying index.


I have to assign a risk of 3 to $TNA because even though it is an ETF which provides great diversification, it is all concentrated into more volatile small caps. I'm interested in mid to long term calls, or just buying common shares. In the summer, when I rebalance my portfolio, I would like to put around 3-5% in small caps.

  • Target Price: $120

  • Entry: <$90

  • Risk: 3

  • Timeframe: 3-5 months



$DKNG: DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities.


Since March lows, $DKNG has been consistently trading in a parallel channel and has almost reached our first target level of $75. We first entered at around $56 and since it has steadily been going up. Currently it is bouncing off of the support, and I fully expect that it will move towards the resistance in the next week or two. Probably we can see a $100 price by EOY, and a $75 in a couple weeks. $DKNG can provide an excellent short term options play right now, but don't overexpose yourself if you have $BJK like I do.

  • Target Price: $75/$100

  • Entry: <$60

  • Risk: 3

  • Timeframe: 4-6 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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Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.


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