This is a very short message—the point of which is essentially to say we’re not making any dramatic changes in the portfolio right now. Between Friday and today we’ve had a couple of ugly days. And it’s likely that the selling is not over just yet.
At the same time a tweet or rumors of a meeting to settle the latest round of the trade spats with China could easily send the market 800 points higher tomorrow. It’s a frustrating situation to be in as an investor. And the fact that we’re in the middle of earnings season makes it even more so.
But the reality is most of our stocks were on a tear until just recently and we have the wiggle room to give a little back. Not that we want to give a ton back—but we have the luxury of being in a position with most of our stocks to feel out the situation a little—to be patient.
I’m watching all our positions closely and most of them are holding above their 50-day lines. There are some exceptions, and Domo (DOMO) and Codexis (CDXS) look particularly weak. Those are on a very short leash right now.
But in the immediate term I’m turning my attention to Everbridge (EVBG) and EverQuote (EVER), both of which report after the bell today. I’ll be back in touch tomorrow with updates on these stocks, as well as other positions requiring immediate attention.