Today was one of the rare days in recent memory where I was offline all day due to being away from my computer, and of course, we had to have a tech-led meltdown. Granted, this wasn’t a shock as we are due for a short-term pullback as the algo’s take automated profits after a certain amount of run-ups in the more speculative, future-thinking stocks like Square (SQ) and Tesla (TSLA). If i was writing automated trading logic, I’d do exactly the same thing. Unfortunately most of the time these execute, eerily all at once it seems, in some magic witching hour between night and day that no retail investor can access.
So main portfolio closed down -1.65%. Giving away hefty gains from yesterday for stocks mentioned above. A couple of my GTC limit buy triggers executed, buying 10 more shares of TSLA at $738 and 15 shares of FB at $305. These are both stocks that I took profits on a little while back as the bond yield driven tech sell off recovered, but I’m still buying them back at prices higher than what I sold them at. Still slow accumulation is the key during pullbacks.
I did not get a chance to review much news today. I am aware of a rising concern in geopolitical risk, namely Russia and China. Who would’ve ever thought that we’d be so close to a straight up weapons hot conflict with two of USA’s most ancient authoritarian foes? Our perception of our world is so oversaturated by cultural, political conflict with ourselves we aren’t even remotely nervous about having to send our warships and aircraft carriers against China or rallying our NATO allys and entering a hot conflict zone against Russia. It’s surreal. I should probably setup some GTC trailing stop loss sells.