This was an extraordinary two weeks and I did a lot more buying and selling than normal. This was really A LOT MORE BUYING AND SELLING THAN NORMAL FOR ME, but you don’t see many two week periods in the market like this either.
I’m reprinting my positions that I posted on April 26th and alongside them I’m posting in italics what I’ve done since. Remember if I haven’t bought anything of a stock, it doesn’t mean there was anything wrong with it, just that it hadn’t dropped as much, and thus wasn’t as compelling a buy as others (CELG is an example).
These were my position descending order, starting with the top six:
SYNA – I bought a small amount at about $57.75
UBNT – I bought a bunch at $31.95 and $30.92
BOFI – I bought a little at $80, and a lot at $78.50
MTZ – I sold a little for cash at $38.85, as it hadn’t dropped much.
Next I had 10 positions ranging in size from 5.0% to 3.2% so you could think of them as centered around the average position range.
SZYM – I bought a little at $10.70 and then a lot at $9.03 to $9.27
WAB – I used part of this for cash. I sold a bunch at $75. I like the stock but there were a lot of extraordinary bargains floating around.
HZNP – I bought a moderate amount at $12.91 to $14.45
AFOP – I bought a little at $15.70 (I wish I had bought more! )
Z – I added some at $90.
SCTY – I bought a tiny amount at $52.50
JCOM – I bought some at $47.80
CALL – I bought a bunch at an average price of $16.30 after the drop
PSIX – I sold a little at $77 for cash to buy other stuff (hadn’t fallen much and high PE)
JCOM had been a new position. Next we had two more new positions, Pandora (a Rule Breaker recommendation) and MANH (a two times Hidden Gem recommendation). MANH was not a very fast grower and I said I probably won’t make it too much larger. These were 2.5% to 2.1% so you could have called them half positions.
P – No change
MANH – I sold all my position to buy more enticing things
Next I had six small positions ranging from 1.5% to 0.9%. PFIE and INBK were new. LNKD, I had had before and sold at $240 or so, and bought back at these lower prices. ELLI was reduced in size as I had sold some to buy stocks that were way down or new purchases.
NGVC – I luckily had sold a third of my position at about $36.50 for cash, and then got out of the rest at about $25 after the conference call.
PFIE – I bought a lot, a tiny bit at $4.50 and all the rest mostly between $3.90 and $4.05
INBK – Added some little dribbles, half at $21.60 and half at $20.25
LNKD – I bought some at $150, and a little at $139, then ended up selling most of it at $145.30 for cash to buy stocks like BOFI
APPY – Sold out for cash.
ELLI – I continued to sell ELLI for cash and sold out.
Then two tiny positions at 0.65% and 0.38%. TSLA was smaller then it had been because I used it, like ELLI, for cash for purchases.
TSLA – I finished selling out for cash at $201
KRED – I’ve slowly added and it’s now about a 0.7% position, still by far my smallest position
I sold out of ELLI, TSLA, APPY, NGVC, MANH and now have just 21 positions, which is very concentrated for me. These weren’t really surprising sells. ELLI and TSLA I was already selling at the last report, APPY and NGVC were small positions, and as for MANH, I had already said I wouldn’t buy much. None of these came from my top 17 positions.
I reduced my positions in LNKD and WAB for cash to buy other things. LNKD because t was a very high PE and I had more confidence in BOFI, SZYM, etc. - WAB, because it hadn’t fallen hardly at all and the chances of seeing a 30% to 40% bounce in six months were nil, while I could hope for that with each of the five below that I bought a bunch of.
I bought a bunch of UBNT, BOFI, SZYM, CALL, PFIE
I bought a moderate amount of HZNP and JCOM
I bought a little SYNA, AFOP, Z, SCTY, INBK
The other nine positions you could say that I liked them enough to hold my whole position or almost my whole position, but that there were other positions that seemed like better purchases to add to right at the moment. AMBA and CELG I didn’t add to partly because they were already very large.