$25K Trading Challenge (Day 105) – Cutting Losses

Video Summary

The current status of the speaker’s brokerage account, as of June 3rd, is that it’s had a red day, following three consecutive red days, and is trading sideways. Jake’s account balance is $17,500, with a reduced number of positions, now down to seven. Jake believes that the market will experience a pullback and is waiting for this to happen before buying back in. Jake shares their current positions, including:

* Discovery: sold due to poor performance and low likelihood of recovery.
* Homebuilders (Phm and Dhi): sold due to increased skepticism about the market.
* Ndac: still holding on to the possibility of a tech sell-off.
* Clorox: sold due to poor performance.
* Costco: sold a put option, hoping to profit from a potential decline in the stock price.
* Adobe: holding a call option, expecting strong earnings and a continued uptrend.
* Facebook: holding a call option, seeing the uptrend as likely to continue.
* HCA: holding a call option, with a target price of $350.
* Selinese: holding a call option, with a target price of $170.
* Marcia Mclennan: holding a call option, with the potential for a pullback before further growth.

Jake concludes by stating that they are not ready to become a bear and are waiting for a market downturn to invest more in the current holdings.


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