Here is a list of stocks I bought since May 6th – June 13, 2018
Abiomed – ABMD $433.07 is now rated the number one fastest growing stock in America by Investor’s Business Daily – IBD. Since its purchase at $300 in early May we are up over 44%. This maker of artificial hearts is the best in breed of all medical device makers in the world. – http://www.abiomed.com/ – I have sold all of my original investment for a huge gain and am now holding my profits for the long term. New investors should wait for a pullback to buy. Free Stock Market Research in Action.
Adobe – ADBE $256.80 is one of America’s great growth companies-leading cloud computing company. We are up over 10% since early May purchase.
Amazon – AMZN $1705 what can I say that can extol AMZN’s virtues any more than the entire world knows? We are already up over $100 in around two weeks.
Ali Baba – BABA $207.05 we are up over 7 points since purchase. I must confess that I like the name, but have two concerns. First, I already own AMZN, so I would like to be more diversified. Second, I am not in love with the BABA web site. Yes I know that Jack Ma’s company has been a growth superstar, but I am wavering. I am keeping a tight stop.
Boeing – BA $364.35 is up a tad. I have written about this long term champ many times. Following up on Boeing, Bitcoin & Facebook.
Salesforce.com – CRM $136.40 is off to a nice start. Last quarter’s earnings report and guidance was startling. CRM is a long term keeper, still in buying range.
GW Pharmaceuticals – GWPH $151.81 has pulled back towards the buying zone since I bought it. FDA approval of Epidiolex, its cannabis based epilepsy drug, is expected to be announced this month. An FDA advisory panel already recommended approval by a 19 to 0 vote. I believe Epidiolex will be approved. On a worst case basis approval could be delayed subject to conditions. Therefore, in my opinion, any further pullbacks should be bought. A Medical Marijuana Stock That is For Real: GW Pharma.
IQIYI – IQ $34.75 was bought at $23 pared back a bit when up 40% and made a 48% gain on the rest in a little over one week. This is a case of thanking my lucky stars and looking for another entry point if the stock pulls back or consolidates. IQ is the Netflix of China and has great prospects. Leaders Breaking from the Pack despite Trade Wars.
Nvidia – NVDA $262.40 is off to a good start and is in the buying zone as a long term investment Nvidia the New Growth Powerhouse.
Netflix – NFLX $379.93 had a great day today and is up over 15% since I bought it just over 2 weeks ago. NFLX has caused an industry wide panic to merge in order to catch up to their lead. AT&T, Comcast, Fox and Disney are all involved with strategic mergers designed for them to provide content and distribution that can compete with NFLX. The market recognizes their desperation and is showing its reverence for NFLX. Netflix World Domination.
Shake Shack – SHAK $63.65 is up nicely since its recent buy. Today SHAK announced a program to automate purchases using computerized kiosks. It sounds similar to those used in WAWA-so much for the minimum wage. It looks like innovative cost cutting and service by smart management. Restaurant Stocks.
Square – SQ $62.50 is doing great since I bought it. Along with PayPal and MasterCard, SQ is disrupting the entire payment processing business. SQ is still in the buying zone.
Tesla – TSLA $344.78 has been on a tear up around 15% since I bought it on the June 6 open at around $300. Elon Musk’s projection of successful Model 3 production and no need for external financing this year kick started the run up. Fast Times in the USA Yesterday. TSLA announced non production related cost cutting moves and today Elon Musk announced that he just bought more shares at $344.
TSLA still has to show that its projections will pan out, but the market likes what it hears so far. I would not be surprised if TSLA pulled back or consolidated below $360. Ron Baron’s Wildly Bullish Tesla Case.
Here is a longer term view of TSLA. If it takes out $390 it probably will be triggered by some very bullish Model 3 production numbers. As Reagan said, “trust but verify.” If TSLA verifies and pops over $390, I would add more to my long. If they do not verify, I can sell and take a nice profit.
Today Fed Chair Powell raised rates another quarter of a point and gave a soothing talk about the economy. However, he also said he would raise rates a bit more than the consensus had thought. I would not be surprised if the market paused a bit here.
I still do not like the fact that the major large cap indexes like the DJIA and SPX are still in their trading ranges. The leaders like the NASDAQ 100 and Small Cap Russell 2000 are free and clear at new highs. We shall see. For now, I have a nice group of growth stocks, but will not hesitate to sell if things turn bad.
Here is a chart of the Dow Jones Industrial Average.
Good stock markets work best when all indexes are in gear. Right now the leading growth stocks like the FAANGs are acting well. But the mainstream large caps, financials and others are lagging. Despite my recent gains, that is cause for concern.