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Post by sd on Dec 10, 2020 16:24:01 GMT -5
stopped out on a lot of my Tech holdings this am and then the market -Nasdaq- reversed higher-
Did some repurchasing prior to the Close with unsettled cash.
FDA panel just approved the Vaccine for release in the uS- Goes before the FDA for final approval! I would think this would push the market higher- In the short term- But the Fast Money group thinks this is already priced in to this market's valuation. I'm adding to ARKG with buy-stops on a higher move-
I added to the CLNE (Nat Gas) position prior to the Close- Energy has been moving, CLNE has had a pullback- It's my only energy exposure as I earlier sold the VDE position weeks ago. (Unfortunately)
Overall, New highs in the IB account- Will have to see how much of the net gain in this account I can retain until Jan 2 2021. Presently this account is up over +80% on the YTD. Don't know if that is sustainable if I keep open positions - which is my intent unless the market rolls over- My stops would likely execute for about a -5% loss from the highs +/-
There are several signs that this market is absolutely pricing popular ipos into the stratosphere- DOORDASH, AIRBnB - absolutely ridiculous valuations -both opening well above where they should be priced- This is circa 2,000 era exuberance-
Don't bet against it, just keep stops employed for the day the music dies-
Thought this is somehow an appropriate remembrance- of when Life times turn- how we will keep that moment alive...in our recollections.
May be an appropriate listen for this era...?
www.youtube.com/watch?v=VhX3b1h7GQw
AT some point- as Cramer says- you have to "Ring the darn Register!"
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Post by sd on Dec 10, 2020 19:27:30 GMT -5
Due to the higher Risk of Covid exposure , I have elected to retire Monday Dec 14, a few weeks earlier than my initial target of Jan 4 2021. Fortunately my company appreciates my concerns and respects the decision. Outstanding to have been with such a company for the past 26 years. Many changes and adaptations along that path, but those changes always moved forward and adapted to changing conditions. I think the ability of workers to adapt and reskill will be essential in the new world post 2020, as the technology will evolve and workers will need to keep pace -or eventually be left behind. There will be some resistance to the new demands of adaptation, but the evolution of enhancing one's ability to learn new skills will become more commonplace- just to keep up.
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Post by sd on Dec 11, 2020 19:36:25 GMT -5
After a few weeks of up momentum, this week the momentum has stalled out-
I've gone from being ALL-IN recently to now holding about 50% in cash due to stops being activated as prices declined.
Did Buy DIS today -will place this on the conservative growth side of the portfolio.
With this week's softness, accounts are about -2% below all-time new highs- A lot of sideways price action showing in the charts.
I did flip back into partial positions in the ARK funds- using unsettled cash-
With the $VIX rising, Covid Rising, and the struggle to fund the gov't, find a stimulus package to benefit the Country- We may not see an overly bullish end to Dec 2020.
Got to give Cramer credit here- He is pounding the table on the recent IPOS - Doordash, AirBNB- at ridiculous valuations due to only releasing a limited number of shares-
He draws the same correlations with overpricing that occurred in the tech bubble in 2000. He's requesting the SEC step in and add regulations for adequate supply of shares to meet buy demand - When things price at 1/5 of where they open- there is certainly a disconnect.
I would give credit to the new evening news announcer - Shepard Smith- on CNBC @ 7pm - I thought he was simply a democrat with issues vs President Trump- , but I see he is also willing to call out the democratic politicians for not stepping up and supporting legislation to pass a stimulus package for all the millions of Americans that are suffering.
As I transition from going to a daily job this week- to sleeping in without an alarm next week-and the following weeks- and my weekdays now becoming the same as my weekend, I think I can adapt to the new changes- Freedom of choice - to Fish -... or Not? 
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Post by sd on Dec 12, 2020 10:25:21 GMT -5
Reviewing some stockcharts TV - Tom Bowley has the bigger picture view- seasonality and relative strength
www.youtube.com/watch?v=bgFmvh8h8pU
David Keller commentary
After the Close:
www.youtube.com/watch?v=vb0A5-WdXwU
QQQJ- The not as large Tech innovators: While I favor ARK Funds to focus on those innovators- The QQQJ may prove to be a better focus than QQQ if the rotation out of large cap continues-
Also, coming out of a downturn, small and mid caps often were underdogs, and can outperform to the upside if the markets rally.
seekingalpha.com/article/4394312-buying-nasdaq-next-gen-100-smaller-nasdaq-etf?utm_medium=email&utm_source=seeking_alpha&mail_subject=year-end-checkup-on-dividend-growth-investing&utm_campaign=nl-etf-daily&utm_content=link-1
Notice in the chart how the large cap QQQ's have underperformed recently
i.imgur.com/vpgBAcH.png
Portfolio visualizer- backtester- Powerful and easy to use - Allows you to construct various portfolios, periodic rebalancing, periodic withdrawals, and then you can compare the drawdowns and end results-
www.portfoliovisualizer.com/backtest-portfolio?
This is a really useful tool to understand the past historical returns, the drawdowns (RiSK) and also the benefit of including more growth -
This snapshot compares 2 portfolios- The standard Vanguard portfolio recommended for me- at my age would include just 4 funds- 2 large market funds- VTI, VXUS, and 2 large bond funds- BND, BNDX
Portfolio #2 I stepped up the allocation to NO bond funds- I put 20% into ARKK, 20% into the S&P growth (VOOG) 20% into Vanguard large cap Tech (VGT), and a hefty 40% into the total Vanguard VTI-
The portfolios compare Portfolio 1, 2, and the S&P 500 ETF starting with $100,000 each . 4 years from 2016 with quarterly rebalancing
Portfolio 1 - the broad market indexes with bond exposure turns that 100K into 154K over 4 years- with a modest -12.92 drawdown.
The S&P 500 ETF -all-in only position- returned 197K with a -17.8 drawdown
Portfolio 2- has a 20% exposure to ARKK, 20% to VOOG, 20% to VGT, and 40% to VTI - it has a lower drawdown than the S&P alone -17.8 and returns $292K !!! Almost double the return of Portfolio 1 in 4 years! That is a substantial % difference in gain by the inclusion of growth and tech-
i.imgur.com/EzFaown.png
Now, Portfolio 2 included the broad VTI index-
What happens if we take out the broad VTI index, spread the investment weightings higher, and include some ARKG (genomics) and emerging markets-
The end result is a return of $340k with a drawdown below that of the broad market.
i.imgur.com/RHfyXWB.png
Of course, past results do not guarantee future results- but for those with more time to invest, finding where the sector momentum is going clearly extends into much higher gains earlier- allowing them to achieve their financial goals much earlier in life.
Since past results do not guarantee future results- How does that affect my application of stops following the momentum to give me some measure of a reduced drawdown/ safety? It would be really interesting to be able to backtest a strategy that included stop criteria and reentry criteria to determine how much drawdown would be reduced vs the net gain...
It may be instructive to compare my present portfolio in the backtester,
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Post by sd on Dec 13, 2020 13:02:19 GMT -5
Through my employer sponsored IRA, I was only able to invest in Mutual Funds-
For 2020 I decided to allow that account to be focused on the international and global markets-
I started off with a group of 7 funds to allocate into initially - found that several didn't seem to be performing well, transferred those underperforming funds into those that appeared to be outperforming (use the perf charts on stockcharts as an easy way to compare) .
As the market sold off this Spring, I sold the majority of the funds- and put in the safety of the money market account- and put back into the market - and into the 3 best performers.
The goal was to try to get better returns than just being "diversified.
I think I will be much more active in DG's - 2021 blog with an eye to be more analytical in what works- and when it doesn't- and how to tell the difference. -Momentum v s investment I will be rolling out of my Employer's account my 2020 IRA contribution monies into my Vanguard IRA- I had intentionally focused all of those contributions in the international space- Notice that I have a nice 33% return YTD from Jan. - In part, that was because I went into a money market account with some of the monies during the Feb/Mar sell-off , and was able to put those $$$ back to work at costs well below the start of the year. While I had initially started 2020 with a 5 or 7 position allocation, I ended up narrowing the allocation into 3 of what appeared to be the better performing funds- during the recovery in March/April. I believe
i.imgur.com/dRSFB3X.png
I ended up in the New Economy Fund, New Perspective Fund, Small cap World Fund- with 40% each in 2 of the funds and 20% approx in the 3rd. MY 33% YTD return for the entire account exceeds -by +10% the best performing fund (30.66) , and it was in large part due to exiting when the market weakened and repurchasing at lower prices. If I had kept monies equally weighted in the 7 funds , the YTD return would have been 21.85% That is the essence of what I did in my trading account- exit on weakness- protect gains , and then apply those $$$ to something else- or the same position as it went higher. I hope I will be able to execute similarly in 2021. _ I will not be holding any mutual funds though- as I am unable to employ stop-losses in the employer's account I will be using this as one example of applying a momentum strategy- Perhaps I simply got lucky in 2020! But by shifting allocations into what is outperforming- and avoiding the majority of a downturn, I've benefitted.
If I had stayed with the diversified allocation of all 7 funds shown, my net return would have been 21.85% - plus all of that volatile downside-
Trend following worked in 2020- Exiting on weakness worked in 2020- Going Long with the momentum worked in 2020- Looking to do the same in 2021-
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Post by sd on Dec 13, 2020 19:12:23 GMT -5
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Post by sd on Dec 14, 2020 12:27:41 GMT -5
Before heading off to my final last day, I set a number of Buy -stops with limits -
Markets all opened higher - will check this pm on orders filled- did take a position in QQQJ as well as adding back into All the ARK funds.
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Post by sd on Dec 15, 2020 11:32:39 GMT -5
12-15-20 Day I of retirement- Premarket futures higher - yesterday futures were up, markets opened higher, and then petered out during the course of the day- I put 1/2 of my cash position back into the markets- I'm simplifying the daily chart reducing the # of moving averages- Elder impulse bars, 10,21,50 ema.
2 indicators- PPO (8,14,16) Sto-RSI (30)
I will also use the 4 hr chart for a closer view of price action
PSAR 0.02,0.2
I will be comparing the results of reacting to the faster signals on the 4 hr chart vs the Daily
AAWW- will air transport vaccine-B- 50 @ $55.67- stp $53.50 A spec position -mentioned on CNBC this am as involved with distribution.
Have done a lot of adds today- putting free cash back in- ARK funds are generally weak- and I'm adding to positions I had- the momentum is favoring TAN, ICLN<GRID WDIV,REGL, IWM, FIW
Also trying a couple of POF- Close to the Point of Failure- entries- thereby reducing the Risk-with a relatively close stop-loss below the red bar- The add into FCX, the add into CLNE,
XLB position had previously been stopped out- Just noticed it was up +2% today- Similarly adding to the present FCX position an additional 50 shares- already nice gain from the earlier position- the pullback made a nice dbl bottom - came within pennies of hitting my prior stop-loss
i.imgur.com/3SIVxzD.png
FCX view on a 15 min chart came within pennies previously in hitting my stop-loss for 150 - added 50 here- after the rally after the double bottom
i.imgur.com/YYwGnHc.png
Bought some AAPL on the move higher today, Najariian recommendation
ARK funds -not participating in today's higher markets- ARKQ up -industrial automation- but ARKG lower, approaching the stop-.
So, the adds today were also in those broad funds that have hopes for Global innovation- Solar, Clean energy, Clean electric, Water, and just bought 75 Global Cybersecurity firm CIBR- It has the better 3 month total return than Hack, IHAK,BUG
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Post by sd on Dec 15, 2020 17:41:42 GMT -5
"EUPHORIA AND EXCESS OPTIMISM"
These are the words being spoken along with "bubble" and "excess valuations" and people chasing stocks here- myself included- It's fine to be aware of this environment as too bullish- money is pouring into the market stocks and ETFs because yield in "safe" investments is so minimal . Optimism and momentum go hand-in-hand- but it's essential to prepare for the day that Optimism turns to Fear- because the momentum down will be faster than the momentum climbing higher. What will prompt that change in sentiment is anyone's guess- and when sentiment change and valuation concerns come into play, the correction could be substantial. But, the momentum could continue for much longer than anyone anticipates- Presently, the markets are looking for the vaccine to work, the Covid threat to be greatly diminished in 3-6 months, and a return to the new economy. There may be a swing to small caps and even Value after a decade of underperformance.
BAC is suggesting to Sell stocks here.... and I'll have to see what portion of my net gains I can retain-with my stop-loss approach and how well I can find where the momentum is shifting to...when it happens....and adapt.
While presently the digital connected world has been catapulted forward into wide spread acceptance in less than 1 year- what would have taken a decade has been compressed by the situation- The work environment, the school environment, the social restrictions, and the millions of people that have become more financially aware and started to manage their own investments- Lots of these changes will become part of the new world evolution- as we hopefully put the Covid virus in the rear view mirror in 2021.
This virus brings home to many how important it is to have a fall-back plan in the event of a personal catastrophe, loss of work, unexpected death in a family- how important it is to have wills and legal documents in place, term insurance, a savings plan , and an investment plan. Beyond an investment plan, should be a method to periodically review and possibly adjust the investments, take on Risk when young to go for the faster growth- Add to that, Pay off credit card Debt and student loans, -Save for the kid's future college education- Wow- hard to figure out where to begin-
Dave Ramsey has the right approach- and spells out a process that works-I would recommend www.daveramsey.com/ and get the Total Money makeover- take his Financial peace courses at a local church , etc.
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Post by sd on Dec 16, 2020 7:32:15 GMT -5
12-16-20
Best portfolio performers yesterday-
CLNE + 11.40%, TAN + 8%, AAPL +5% (Just took new positions in TAN, AAPL ) ICLN +4.68% -
Positions that went Red: ARKG- -1.0%, SNAP -0.48% ARK, CRSP,ARKW,DKNG flat
Best SELL on STOP SPCE-last week.
Also - invested a small position in CIBR- security ETF.
Reviewing the just re- entered positions as to the impact on the port should prices weaken -and the stop-loss positioning.
AVTR stop entry order $27.50. based on pm interview
Did Buy 100-YOLO a diversified cannibus fund - already had a small CNBS position-
Did something out of the norm premarket - on my recent reentries in the various ARK positions-feels as though the market is waiting Gov't stimulus, as what would prompt the markets to go higher-with any momentum- so I took my stops off on the ARK new positions- keeping stops on the move higher in ARKQ. Since my reentries were not on a breakout move higher, but within the consolidation area from where I had stopped- the potential to get whipsawed is high- and so it's something I will monitor ...
took a small early spec trade in 100 SIOX- saw it in premarket and bought in the 1st minutes open. SIO Gene Therapies- total lottery play here...
50% of positions in the red today ---
NPA- spec
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Post by sd on Dec 16, 2020 14:45:23 GMT -5
MOMENTUM TIMING MODELS
The benefit of market timing models-using various moving averages- for reduced volatility and drawdown -
Meb Faber- Ivy Portfolio- Cambria funds- had previously followed some of the research on using market timing exit and reentry strategies-and found they reduced drawdowns while also reducing gains in strong bull markets-
He found that timing models outperform over the long term and reduce drawdowns significantly -
He has authored a number of white papers
mebfaber.com/white-papers/ on timing & relative strength mebfaber.com/2009/06/25/combining-rotation-and-timing-systems/
As well as written a number of instructive & researched books-
FED is speaking- Powell reassures the markets that it will continue to be accomodative until the time we see work participation and inflation- Should be good for the markets going forward.
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ira85
New Member
Posts: 837
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Post by ira85 on Dec 17, 2020 0:39:57 GMT -5
Bought 200 shares GBTC on 10-27 @ 15.53. Cost 3,106
Sold 100 shares on 12-02 @ 23.35
Sold the remaining 100 shares on 12-07 @ 22.27
Net gain $1,456 or +47%
Since I bailed about ten days ago GBTC sank as low as 19.50 and then shot up to 25.81. I want to buy back in but I'm hoping to do it with a new BitCoin ETF. The Grayscale ETF is more like a closed end fund and sells at a big premium to asset value. The ETF from Fidelity is only for high income investors. I haven't seen one for joe public investor. I'm afraid to buy back in using GBTC and then get smacked with a 20% redemption fee.
Bought 150 shares PLTR on 11-23 @ 19.30. Cost 2,895
Closed today 12-16 @ 25.92
Paper gain to date $993 or +34%
PLTR has slowly pulled back for about the past week. I wouldn't be surprised if it pulled back some more. Lots of people think this has the potential to be a world leader in it's class. Others suspect a lot of hot air not much substance. I am in the former camp and expect great things.
Bought 50 shares NIO on 11-23 @ 51.50. Cost 2,575
Closed today 12-16 @ 44.67
Paper loss to date -341.50 or -13%
NOI looks like it may have support around 40.
Bought 70 shares ARKW on 12-16 @ 145.37. Cost 10,175.90
Closed 12-16 @ 145.57
Bought 140 shares ARKQ on 12-16 @ 72. Cost 10,080
Closed 12-16 @ 71.98
Apologies for math errors.
I made the plunge into the ARK funds. It's a big step for me, but very familiar territory for SD. They have been in a steady growth trend since the lows last March. I'm a little anxious about the risk I'm getting in at the end of this move. -ira
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Post by sd on Dec 17, 2020 9:50:00 GMT -5
Hi Ira,
You are doing good in your trading and some nice gains-
The Bitcoin momentum is attributed to institutional investors getting in - supposedly-
A new offering -BITW- just opened- read about it here:ETF.com - search bitcoin - good resource on EETFs as well as ETFDB.com
www.etf.com/sections/blog/another-bitcoin-backdoor-opens?ts=1608211055
A hyped RIOT sees trading - Riot was a failed pharma company that switched it's focus - simply consider it a day-traders momentum trade- not an investment vehicle. Bought it @ 12 a few years back, went to $48- I sold @ $24- it went to $.06 Yes- 6 cents.
i.imgur.com/b42aI0c.png
ARKW has a portion of it's assets in Bitcoin- and possibly ARKF-as well- but not a majority holding.
"Bought 70 shares ARKW on 12-16 @ 145.37. Cost 10,175.90
Closed 12-16 @ 145.57
Bought 140 shares ARKQ on 12-16 @ 72. Cost 10,080
Closed 12-16 @ 71.98" I'm a little anxious about the risk I'm getting in at the end of this move. -ira
That is a sizeable investment! I'm a big proponent of the ARK funds- They have been Alpha generators for me- in Both the trading account and also the Van Roth- but I also trail stops with them -and they will sell-off as investors lock in profits when the markets
soften -at some point in the future- Their focus is on disruptive innovative companies- and I believe that that overall theme of innovation- largely through technology evolution-will be a driving force for the foreseeable future- Moore's Law in application across
industries- Society just has to be able to keep up. I would also point out that Momentum is a directional force that is not a constant- as we saw in Feb/March with the virus, and periodically will see again as different events impact us-
Comparing SPY, QQQ, ARKQ,ARKW this past year - Obviously, TECH (qqq) has a +50% return, SPY 20% return- ARKQ 110%, ARKW 160% -
They both track the broad indexes - as long as the indexes are going higher, they should perform as well....
i.imgur.com/FQUkiD4.png
Notice on the 3 year chart -it becomes obvious the outperformance curve has really happened this year-
My RISK-off Stop-loss approach has caused me to underperform the net returns both of these have delivered.
While the graph represents the gains in 4 years of +230% for ARKQ, and over 500% in ARKW, ( I haven't been in them that long)
The pullbacks/drawdowns have been volatile- The PERF chart for the past 4 years-illustrates that volatility-
I also believe we are in a Christmas Rally- may extend further on a recovery in 2021- but the potential for 10-20% declines and a reset on the broad market valuation is certainly a strong possibility in 2021-
i.imgur.com/SpSEGgc.png
We- (LOLO and I) pulled our stops off yesterday - in ARKK, ARKW, and will look to Price to continue to rise, base, rise again .
Price is basing -in both - resistance in ARKQ is $73.00 - If prices closes above that level today, we trust it gives another leg higher
4 hr chart illustrates with 2 price bars for 1 day -
i.imgur.com/jrzY3EU.png
The Daily chart illustrates the periodic basing action can be volatile- We presently are holding in a Flat base with price still Closing above the 10 ema trying to get above the prior weeks high- and below the PSAR "sell" signal- Indicators are holding well,
price has consolidated in a relatively narrow range . The issue of trailing the fast stop-loss is that you only get back in generally at prices above the declining psar value- so you lose out on the differential in exit to reentry higher- unless there is a more substantial decline.
i.imgur.com/IQWOqWC.png
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Post by sd on Dec 17, 2020 12:15:34 GMT -5
How are you and your wife doing? As I recall your wife tested positive-for Covid? Hopefully both of you are doing well!
The increased spread - and a possible exposure to an individual on the job site the week earlier prompted me to retire a few weeks earlier than I intended-
One Trend Trading approach is advocated by Dave Landry- also a stockcharts contributor- who actually advocates position sizing- taking partial profits, but trying to allow a trade to make a longer run with gradually trailing wider stop-losses- His methodology may be ideal for someone inclined to be an "Investor" but protect yourself with a tactical approach . I use many of his overall trend following principles- but apply them on a shorter time frame and much tighter stop-loss approach
I have one of his books- "The Layman's Guide to Trading Stocks"- and it is a good primer for trend trading-
Similarly, Stan Weinsteins' decades old book- dated- but still the principle is to Trade With the Trend.
Landry has a series of weekly you tube videos on stockcharts -Trading Simplied-
I like his common sense guy approach - He doesn't try to sound too eliteist-
I think his style is not too polished- but if you are interested in following a progression of trading methods- from someone that has done this trading stuff for decades.
I think this is StockCharts TV Episode #1 -
www.youtube.com/watch?v=JNrJSOhMbHU&list=TLPQMTcxMjIwMjAYVEF0nGTv0Q&index=3
I will have the opportunity now to listen through his series--I've seen some of his recent stockcharts TV- I admit I haven't listened to many yet- I'm listening to this 1st one today -Slow start, It rambles -goes off on many tangents. But he's speaking to novice traders and tosses in some of the market psychology stuff frequently - but I think this simple approach is what i essentially try to do- Trend trade- simple TA- stop-loss- profit taking-
This series should be a good primer - I'm certain the series gets better as it evolves-
Regarding your large positions in the ARK funds- Money management and position sizing are essentials when you are starting out trading with your hard earned dollars. The ideal time to start a position would be following a pullback in an uptrend, enter on that new move higher - I see we got that GAP breakout today on ARKW- So You and I are in the Green!-+2.6% at this moment .
Getting back to money management- I think Warren Buffet said that "Diversification is for Fools" but he had a proven edge in his investing style- So, the Biggest RISK in trading is too much exposure in an individual stock, a single sector focus, a single market focus , a single country focus. - So- Position sizing - equates to what % any single position represents of your account and where your stop-loss is located compared to your entry (RISK) -
We already know that most everything in the investments we hold is highly correlated- Markets largely act in tandem, potentially even on a global scale- correlations can be high.
My use of a tighter trailing stop is how I control that high correlation Risk. -More later.
I would hope to see the same thing in ARKQ, Arkk later this week- ARKF gapped higher today, PRNT trying- With the ARKW breakout- I can place a stop higher below the prior base.
Majority of most positions are higher today - SPY & Q's gapped up -
December seasonality should be bullish - typically from DEC 16 -
Should see the market rotation the talking heads are citing- Value, cyclicals- and a market correction- possibly in Jan-/FEB -
I think this bodes well for the near term, but also suggests that stops on excesses in momentum will be needed to protect some of the gains- It's not the highs we achieve on paper - Today accounts are either at a new high or within 1% of all-time highs. It's what portion of that high we retain- If the expected -10% correction occurs that many are talking about- my extended TECH positions likely decline -15% or more- I would hope my stop-loss approach would get me out at a smaller net loss -5% +/-
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ira85
New Member
Posts: 837
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Post by ira85 on Dec 17, 2020 13:22:37 GMT -5
Good morning SD. You mentioned since I'm looking for a BITCOIN ETF I might look at BITW. They are off to an amazing start. This is from some news article.
"Bitwise 10 Crypto Index Fund (BITW)
The recently introduced Bitwise 10 Crypto Index Fund (BITW) had a record opening last week (Dec 7-11). Bitcoin's price increase provided its shares with further momentum, and its price surged by as much as 19% from its opening price to $140 per share." According to Yahoo Finance today, Dec 17, BITW is down 31.59% just this morning! I think this is a company that changed it's name in September. It used to be Golden Dragon something, trying to be a Chinese market play. I picture 5 guys sitting around a table thinking of ways they can cash in on the next big thing to come along. Marathon Patent Group, Inc. (MARA) was another one that changed its name and became a BitCoin mining company almost overnight. I think I'll give BITW some time to settle a bit before I buy any.
I like the idea of starting a new position with a relatively tight stop and loosening it over time. Sounds like it would involve fewer round trips but would also result in holding some bigger paper losses. And of course, paper losses sometimes become painfully large if one isn't paying close attention. I'll try to watch some of those videos to get more knowledge of trading.
This morning I bought 200 shares of ARKF @ 50.24. Cost $10,048. These are big, but not gigantic positions for me. I'm treating theses ARK funds like mutual funds. I wouldn't take such a big position in a single company. But with a fund we've eliminated single company risks. Of course the ARK funds have sector concentrations so they are not broadly diversified. I think the biggest risk now is the high valuation on the market in general. I think the whole market could be at risk for a correction or worse in the next few weeks to months. It wouldn't surprise me if I ended up getting out of these ARK funds for reasons of capital preservation, sooner than I would want. -ira
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