This is the kind of post I almost never make. Since I don’t post my holdings on a monthly basis*, you won’t have much of anything to compare it to, But anyway, here are the actions I took shortly after the market opened.
Sold Positions
ENPH
IONQ
TSLA
UPST
I used the money to buy a little more,
GLBE
and a lot more
TTD
OK, so trying to time the market is a fool’s errand, but I didn’t pay attention to my intuition before ENPH and TSLA reported. My gut was telling me to get out, but I talked myself into holding those positions and they both took a big hit after earnings.
I’ve got that same feeling now about IONQ and UPST. Of course I could be wrong. If I am, I’ll miss the after earnings pop.
OTOH, I feel really good about GLBE and TTD. If I’m right, I’ll have a large gain as I am now way over my limit (20%), especially with TTD. But here’s the deal, even if I’m wrong, and those companies take a hit after earnings, I don’t think I’ll be wrong for long.
*Why don’t I post my holdings?
Primarily because I don’t usually hold anything that isn’t covered by others others much better than the analysis I might provide. At best, anything I had to say would be redundant.
OK, I admit IONQ is not widely held by others, but I would hate for anyone to have bought into that company because of something I said. It was a good ride and I made a fair amount of money, but it is also highly speculative. It may pop after earnings. I may buy back in or I may just take my profits and move on. Please, before you touch it do some research, not just on IONQ, but on quantum computing in general. From what I’ve learned about it, even if QC becomes a reliable service, it won’t replace conventional binary computers. QC holds promise as a powerful tool to address certain problems, mostly those kinds of problems involving the determination the optimal solution when there are a multitude of right answers. And despite the confidence expressed by IONQ management, it may be a long time before they have a computer they can sell on the open market.