I have taken advantage of the drop Friday and today to make a few purchases. I am not saying this is a “back up the truck” opportunity. But to someone that is trying to build positions and add to positions, I am happy to take advantage of 5-10% drop over the last 2 market days.
I added to New Relic and ZScaler. These were small positions I was looking to add to anyway. Both are relatively new to my holdings, and I usually start small and build.
I also added to AYX, TWLO, and PVTL. Not all in equal amounts, but rather than sell to get them where I wanted them in portfolio position, I added.
In the past few weeks I trimmed ALGN, ABMD, GOOGL, AMZN, and AAPL so I had a decent cash position ready. Do I think those are all great companies? and good to great stocks? Yes
But I chose to sell ALGN and ABMD based on what I see as better opportunity. Same could be said for the others, although I kept a small amount of each, less than 5 % of portfolio.
This was not a reaction to market volatility, but rather a planned transition out of some companies and into others.
I am very comfortable with current allocations, and look forward continued growth. The past couple days have been hard, but knowing I am still up for the month, and up nicely for the year, makes it much easier to take. I am looking forward to earnings reports, and will just see how market reacts. However the stock prices move, I am confident in the direction the companies are going.