megacaps relatively unscathed, keeping indexes afloat and out of correction territory.
while small/midcaps in growth getting crushed.
some value got hit today as S&P momentarily tumbled, but recovered…saw dips in SPG and jumped on PTLO.
thinking nasdaq/megas still fall, taking growth with them. just a matter if growth bounces hard first or treads water until then. makes a big difference on entry prices and cagr, to me.
So I have revised entry prices in my head due to this market vomiting while not really vomiting.
GLBE at $52-54 no longer seems a great starting point, as the $40’s have been explored heavily this week. So perhaps $42-44 is the new $52-54? Huge difference in cagr, isn’t it? So I hold out for a breach of the $30s at this point before committing to GLBE and ignoring computer for a few months.
PTLO is interesting. I think lockup of April will yield downward pressure, but will it bounce a lot prior to that? Inflation and supply chain likely offered an early entry. Could go to or below IPO price around $25-26? Maybe. I got in at $27, so may cash it in if we get big up move prior to lockup expiration before committing longer-term to it.
SPG got hit with retail news theme that inflation is hurting retail. Simon sells to rich people or upper-middle class mostly. So they are impacted by the news, but not reality, imo. But that gives us a possible reentry, IF (and a big IF) we see more Omicron and inflation/retail negative press all next week, and price gets into upper $130s, I would like that very much. I see $180 as doable for 2022 at some point, in a declining covid and resumed-tourism world. So SPG may have legs for one more year…who knows. $140s may be too tempting.
Not giving up on growth stocks, just don’t believe the worst is baked in yet. Probably ok long-term, but again, I care about cagr and best possible entry price, and not passive LTBH. DDOG and others still too pricey. Just look at MNDY giving up the gains. I sold it at $246 on Tuesday or something like that. Nutso market.
Finally - I should hire the guy running my taxable account as it is up 5% YTD, while the loser running my 401k is down about 10%, with result being I am down about 5% YTD overall.
Bifurcation: the division of something into two branches or parts.