My Week Making and Losing Money

Wow this market has been so volatile. I have been trading stocks that are linked to the producing vaccines and/or test kits for the virus.

Some great success, but some horrible losses as well. It turns out many of these virus stocks are pump and dumps….

We started of trading $SPEX because they announced a licensing deal from a major university for a patent called ‘Methods for treating Corona Virus’ or something like that. The stock soared in price and we caught some of the positive price action.

Then there was $INO that went up 400% in just a few days. Check out the chart below — you certainly wouldn’t want to have got caught at the top of that big red candle!

Corona virus stocks may well have some further upside, especially as more news comes out. However, the risk for many of them is that they are just so overextended.

Sometimes the news is just weak. The company just attempts to make some money by announcing some remote and vague link to the virus testing or cure.

That is exactly how I got burned during a trade of a stock called $TTOO. They announced via a tweet that they were somehow linked to the virus and since the sector was so hot I bought shares. They tanked 30% because the market realized that the company was not going anywhere anytime soon.

So many names out there saw huge gains and losses last week. Here are a few other ones I played.

$OPK

$LAKE

$CODX

$APT

and so many others!

Many people are making a fortune placing option trades.

They are doing puts against the SPY and calls with the Coronva virus stocks.

The markets are going to be so wild for a while yet. It is very scary but potentially very lucrative. I will probably wait in cash next week to see if the market stabilizes in any way.

Anyone else trying to make money this week in the market? What are you playing and why? Let us know!

Russell

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