PPC Friday Update
February 15–19, 2021
We saw a bit of a pullback this week, but the general sentiment is that we still have room to run. I think this was kind of a pause, as more market participants took a wait-and-see posture, which makes sense given the concerns about rising bond yields, high valuations (especially in tech), and the pace of the recovery.
This could be a bit of a rebalance and reposition as investors wait for the next round of stimulus checks.
In terms of the PPC portfolio, I missed selling some names prior to this pullback. There were positions I was interested in drawing down, but the pullback came before I was able to do so. I didn’t want to sell low, so I decided to hold those stocks. Over the weekend and early next week, I plan to reassess the PPC portfolio and rebalance as needed.
I felt that APPF was nearing the top last week, but I was holding out for it to reach that second standard deviation above the MA 90 before I sold. It started declining this week, so I did sell to lock in an 8.19% gain.
I missed the recent top in APPF by a couple of days, but hindsight is 20/20. I try to always remember the adage “you can make a fortune selling early, or you can lose a fortune selling late.” At the end of the day, all that matters is ringing the register when it’s green. I am content to hit singles and doubles all day long.
I also exited CIEN, as the technicals were not as strong as I initially thought. Coupled with a broader pullback, I decided to lock in a small gain and give myself more cash to deploy elsewhere.
Looking at the overall market, I think there are opportunities in small and mid-cap tech, which I will be looking into in the days ahead.
PPC Moves
CIEN
Entered: 02/03/2021 (10 @ 53.85)
Exited: 02/18/2021 (10 @ 54.52)
Duration:15 days
Return: +1.24%
APPF
Entered: 02/03/2021 (10 @ 155.82)
Exited 02/16/2021 (10 @ 168.59)
Duration: 13 days
Return: +8.19%
PPC Holdings
Long: V, JPM, AMD, PINS, ATVI, V, RKT, WKHS, SQ, BAND, SMAR, SHOP, MSFT, SPLK, CVS, NLS, IYY, QQQ, XLF, SCHD, SPY
