Using Nio Day to boost your portfolio
Another strong day for the portfolio as it gained +2.2% led by ($58.92, +8.6%) and $DNLI ($80.03, +8.3%). The portfolio outgained the $SPX (3,824.68, +0.6%) and $DJIA (31,097.97, +0.2%). The insurrection at the Capitol was unnerving for investors but was proven to be short-lived as Trump committed to a peaceful transition and the markets reacting accordingly for the second day in a row. For now, we’re expecting there to be less volatility in the markets with the small caveat of inauguration day where I wouldn’t be all too surprised if protestors somehow mar this event.
Nio continues to be on a tear as it approached all-time highs and outgained $TSLA ($880.02, $7.6%) by a small margin. Nio did this despite Apple announcing a partnership with Hyundai to be the manufacturer of the Apple Car. Nio day is scheduled for 1/9/21 and all eyes are on the announcement of their first sedan which should appeal to more buyers who don’t necessarily want to purchase Nio’s SUV lineup. Nio will be announcing a 150 kWh battery that is reported to have a 600+ mile range. We are looking for Nio to hold or move current prices to establish support for its next big catalyst move. Otherwise a pullback next week is a great opportunity to trigger more purchases.
$DNLI was also the big winner as it’s recovering from the massive and spook selloff on Monday. RSI was at 30 at the time and it’s easy to see that this selloff without news would retrace back to the upside. Expect a continuation into the $80-$90 range to barring any shocks to the market.
$RIOT ($26.59, +17.0%) had yet another breakout day with bitcoin prices gaining another 5% and breaking the $40K mark We’re looking to add more on the dip, if there ever will be one…
Today’s Transactions
$GRWG BUY (16.9% of portfolio)$ASAN SELL (4.2% of portfolio)$SMAR SELL (1.1% of portfolio)$FVRR SELL (3.2% of portfolio)$DNLI SELL (13.7% of portfolio)
$GRWG good opportunity to rebuy on the dip. Option pricing setting the resistance at around the $43 levels so the entry was higher than I like, but wanting to make sure I add to the position with Biden helping out cannabis-related stocks.
$ASAN sold to capture some profit. Option pricing is setting the implied upside move into the $36 levels which would be a massive 16% move to the upside.
$FVRR sold some portion but continues to be bullish for this stay at home stock as work from home is not going away any time soon.
$SMAR falls in the camp of $ASAN where work from home technology tools are being relied upon more than ever. However, $SMAR is a short term swing trade so half the position was sold to capture the multiple ATR move.
