May Wrap-Up

“Sell in May and go away” is a market mantra I heed with some caution since the market is now primarily automated algorithmic trading and bots don’t take vacations. I did, however, luck out and sold out of 25% of my holdings in Hive Blockchain Technologies ($HVBTF:OTC) last month in time before the sell-off on bitcoin. I was able to secure those gains and allocated the proceeds into other securities supporting my thesis in Smart Societies.

As you can see, my total portfolio hedged itself with gains in certain sectors, such as finance, infrastructure, and energy, while technology and commodities pulled back. I did cut some losses and doubled down on certain positions this past month. Most notable cuts include $UBER, $BLD, and $PWR for underperformance. However, I decided to buy more $LAZR even though it was the poorest performing security in my whole portfolio. I decided to do this with the intention to collect more over time. I also cut $COIN from the Smart Money basket for its terribly poor performance but I did buy some for my personal portfolio with the intention of holding a for the long term.

My thesis for June is that there will be some movement in the reopening plays including airlines $AAL, $DAL, $UAL, and $JETS etf, as well as consumer discretionary names such as $TAP, $MGM, etc.

I also re-allocated some funds from one ETN to another in order to take better advantage of interest income. I held $REML, a leveraged REIT ETN that I was able to collect around $4.00 level and sold at $7.00. I decided to sell out of $REML and moved it to $SLVO, another ETN giving remarkable dividend returns.

The sell-off on bitcoin and the entire cryptocurrency market this past two weeks may be normal for long time hodlers but those who recently bought in at the highs may have seen their money cut in half. One friend, in particular, told me “You don’t know what you’re talking about” after I suggested he sell his DOGE coins before Elon Musk’s SNL performance. He told me later that he wished he listened to me because now he’s a bagholder and he’ll just hold it until it becomes green again. I guess that could also work since I also held through 2019 in the red before my thesis was validated in late 2020.

I’m still bullish and looking to buy into some more altcoins once I clear some funds. I’m not in a rush since I think the cryptocurrency space will settle down a bit more and may even pull back to lower levels but I’m eager to invest in some notable crypto coins including DOT, THETA, LINK, 0x, and may research a few others. This past two weeks, I consolidated all my small coins and gifted it to my niece for her college graduation. Because I am still up a good +500%, I’m not freaked out about seeing my portfolio reach $35k only to see it back at $21k. I’m not worried about it at the moment and could still see more for XRP, TRX, and ADA this year.

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