TRADE ALERT: taking some profits – sell Avast, Cisco Systems, Illumina, Intel and Alkane Resources

28th February 2020 | Eoin Treacy

Action to take: sell Avast
Ticker: AVST LN
Purchased at: 285.20p
Sold at: 375.60p
Profit: 31.70%

Action to take: sell Cisco Systems
Ticker: CSCO US
Purchased at: $33.80
Sold at: $40.04
Profit: 18.46%

Action to take: sell Illumina Inc
Ticker: ILMN US
Purchased at: $207.22
Sold at: $259.93
Profit: 25.44%

Action to take: sell Intel Corp
Ticker: INTC US
Purchased at: $57.03
Sold at: $55.83
Loss: -2.10%

Action to take: sell Alkane Resources
Ticker: ALK AU
Purchased at: AU$0.31
Sold at: AU$0.78
Profit: 151.61%

The selling pressure right now is panicky in nature but the technical damage done to the above shares’ price charts is sufficient to signal top formation completion and therefore I believe our best course of action is to exit the above positions at current levels. If we see an additional pullback and sufficient catalysts emerge for recovery, I will consider reopening the positions. However, for the present time exiting is the best course of action.

The combined spread of coronavirus and the potential that Bernie Sanders will win the Democratic nomination for president have triggered stops. That in turn spurred a spike in volatility. Quantitative strategies are acutely sensitive to volatility and therefore reduce their positions when it surges. 

The spread of coronavirus may or may not be contained in China but it is definitely spreading internationally and that is likely to have an economic impact which has until this week been underappreciated by markets.

I believe there is a very strong likelihood of additional stimulus that will support markets. However, it is not yet apparent and until we have evidence of money and fiscal stimulus, we can expect additional volatility.

I plan to dedicate the next issue of Frontier Tech Investor to the two themes that are most pressing right now. These are the likelihood of a global recession and the continued outperformance of the renewables sector.

All the best,


Eoin Treacy
Investment Director, Frontier Tech Investor

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