Three stocks that knocked it out the park this week!
Earnings season is well in the swing of things and with some stocks just tipping the scales with beats on earnings some smashed through and even with the hedges were tidy little profits.
We will start with $AMZN,
After announcing third quarter sales up by 34% to $43.7 billion it send its stock price through the roof! It was a very nice surprise and pushed a lot of our trades that were held from the previous earnings report into the green.
We saw more than 13% on the intraday putting the stock at an all time closing high of 1101.26.
I will be holding one position open for the time being, however being so close to its all time high I will be waiting for a better entry point as to me the US markets are getting over cooked and we will see a correction. I will be keeping an eye on the variations and see what could be coming up.
Any of you that read my posts regularly will have noticed mentions of WalMart $wmt and will be looking to increase our holdings in them as I believe they will continue their raise as well as they introduce more of the online features and don’t over extend on their borrowings as they are mainly a family company.
On to Google $GOOG
In the third quarter they posted $9.57 per share up from an expected $8.43 per share. YoY revenue grew by 23.7%
On the intraday they gained a princely 4.8% and pushed all over our trades into the green and after setting them on trailing stoplosses we now have no more holdings in Google. I will be waiting for a correction to re-enter the market.
Saving the best for last First Solar!
After posting a massive $1.95 per share ( on an estimated $0.85 per share) they saw a massive 20.35% gains on the intraday.
Again after setting trailing stoplosses I have now closed all of our positions as it shows signs of being over bought and should see a correction. I will be looking to re-open a fair amount of positions in the future as I see the renewables sector will start to make really good ground on traditional energy companies.
These are just the highlights of the week as there were other stocks that have really pulled their values up over the past week.
As a general strategy update coming into the end of the year I will be redistributing from the crypto sector towards some stocks and commodities.
I will also be increasing our holdings of Interactive Brokers Group. They have made good ground and we are already up by more than 12% on once of our positions since the OCT 11. This is one of the reasons why I am looking to trade more stocks as when the cryptos are flying they are great to have in the portfolio but they have been relatively stagnant recently (taking out the big events of the $btc fork and $xrp “event”)