This past quarter took a different tone from last year’s hyperbolic gains with a muted growth rate of only a few percentage points. Although that may be dismal, it was, in fact, a success!
I was able to cash out 25% of $HVBTF, my biggest holding, at a favorable level at $4.00 before it plummeted down to $2.50. That’s a terrible -62.5% drop that I was able to stave by reallocating those funds into the thematic basket model I laid out in the beginning of this quarter.
The growth rate of the investment portfolio was slow and steady. This past quarter, my overall portfolio management was spotty in that I did not cut under-performers as early as I should have and chose to let them ride out the whole quarter after seeing other stocks I had cut early reverse and grow like $CRSP and $AMZN.
Some notable changes were in the hedge baskets. I ultimately cut $REML to take the gains and to avoid a leveraged dump. I allocated the funds into $SLVO, a covered call ETN, which I will now use to earn a monthly income. $SLVO has an incredibly yield of +32% paid out in monthly dividends (taxable). My plan is to accumulate as much of this until I can have a substantial monthly income from the shares alone.
I also created a Smart Consumer basket that include $PLBY $KODK for its potential in the NFT crypto space. I also bought $TLRY initially for this basket but opted to move it into Smart Drugs with $MNMD.
I’ve also added to my $AI position in my IRA account and acumulated more $ETHE $COIN for this next quarter.
I will continue to manage the portfolio as I am with a balanced sector allocation setup focused on tech innovators in each industry on the long side managing weekly moves throughout the quarter and trade futures and options on the short side to hedge or speculate on big moves with controlled risk.
As for our HODL game, crypto dropped as expected once the bitcoin micro futures and ethereum futures contracts were released by the CME (Chicago Mercantile Exchange) just as bitcoin did when bitcoin futures were introduced in early 2018 when bitcoin began its sudden decent back to below 5k. I did not pick up any new crypto assets due to a buying restriction placed on me by Coinbase but I did pick up $ETHE $COIN to exploit the reversal move. I also am looking into accumulating $DEFTF for my next tenbagger. DeFi Tech is an ETP with holdings that include Cardano (ADAUSD) and Polkadot (DOTUSD), two of the cryptos I wanted to buy on Coinbase.
I am eager to do better in my portfolio management and intraday trading this next quarter. I do plan to expand my techniques with more complex options strategies as well as developing a better way of letting trades run their course instead of watching it all day everyday. That really is a challenge. The goal this quarter is to trade less, make more. Wish me luck!!