Wow… up 5.7% today at the close is what I call a good start and an “impressive day!” It is also a new record for me for a one day move up of my entire portfolio. We will now see if the trend can continue. Cheers to a good day after a very dismal rout.
Looks like we may have hit the actual floor of the rotation and mini correction. This morning I added a small bit to ESTC, ZS and did a small options trade on AYX (Synthetic Long…which means buying calls and sell puts, effectively betting the stock will recover and go back up). At current prices, we have bounced back more than 10% up the past 3 days on good volume. That usually bodes well and shows new strength in the sector. Can’t control all the macro factors of course, but happy to see the SaaS sector turning around. Earnings will be interesting and if the fed cuts rates again that could also provide some tinder to boost the sector. Happy Harvest!! -Victor
