Speculative Portfolio Trades (on the dip!)
The absolute best luck or the worst luck I’m not sure?! +25% VZIO today
Yesterday I was buying ZoomInfo (ZI) as discussed here prior to earnings and having it run exceptionally well on earnings +24% and holding +14% today despite the horrendous broad based selloff - I bought more at +9% intraday personally.
Today it was something a little different with buyout rumours emerging mid-trade execution on a position (unbeknownst to me).
I’d just finished setting up a dozen or so trades in the speculative portfolio (on the blotter - which I will post below), I captured the trade prices near the end of the trading day with Google Finance formulas pulling live prices. After it was all said and done, I was entering the new positions into the portfolio itself and I noticed the VZIO position cost wasn’t around $7.50 or so as I expected. The trade price I captured and set in stone was $8.30! I paid a full 11% more than I’d intended to. This revelation was after the market close. I looked to see what happened and it hit $11 perhaps while I was still recording the YouTube - which I expect to post sometime tomorrow.
$7.50 to $11 in the span of 15 minutes would have been a nice trade, unfortunately I didn’t notice the huge spike and “overpaid” by buying part way up it - inadvertently.
Perhaps a happy accident as it closed at $9.75, up 25% on the day having been down a couple of percent as far as I was aware all day long. I do own VZIO in the Savvytrader “2024 Growth Portfolio” which you can see from the full Savvytrader portfolio listing posted here yesterday. Fortunately that portfolio benefited in full from today’s move.
I would have preferred it in the Speculative Portfolio at $7.50 or less - but in light of the move I’ll be grateful that I got it at all.
And I do apologize that I didn’t get these trades out prior to the close but as I say I was setting them up and executing them myself not that far ahead of the close - and frankly I didn’t think time was of the essence with any of these. The rest of the trades could likely see further weakness tomorrow for all we know. Market participants generally seem to believe this sell off will continue. I’m agnostic - or slightly bullish for the rest of the week if I had to make a call.
Here’s the VZIO chart from today.
I’d forgot that I’d been charting Vizio (VZIO) in past months as you can see by the downward sloping wedges. It would have been a nice buy as it exited the downward wedges and consolidated above. I did buy in January for the 2024 portfolio as noted.
What occurred today was not unexpected… and in hindsight makes an awful lot of sense. As I mentioned in the YouTube recording, management owns a lot of this thing - more than a lot. In fact, 51% of the business is held by the top 3 shareholders! I’d guess they knew the prospects were “good”. It was also chosen as a top small cap pick by at least one sell side firm.
I’ll post the trades that I was doing live and executing for the speculative portfolio below (YouTube video to follow). Today presented some nice opportunities to enter on a pullback. See trades - notice VZIO at $8.30… I took profits on TLH and QS to fund much of the buying but dipped into unused leverage for the balance: