Tradeback Blog - Week Two - Tradeback News

No big surprises came up but obviously it isn’t the start that we were looking for. After spending much of the weekend in the green—thanks to bitcoin—this week’s trading has set us off on the back foot.

Week One Breakdown:

Apple: We were hoping that Apple would get some love after announcing a suite of new products that use the M1 chip but with tech stocks taking a hit overall we decided to pull out of this trade with a 5.35% loss. There was no more upside to hanging around that we could see. Unless there is more news that the company will be able to prove immune

Bitcoin: The world’s leading crypto currency has shown its usual volatility over the previous week. Although we are slightly down now there were many times over the weekend when we were up. The plan with this trade is still to hold long-term and look to get out if the price falls through the $50,000 resistance level.

Marstons PLC: Unless something changes unexpectedly over the next two weeks this position will be kept open in the hope of indoor drinking being allowed once again in the UK. Marstons is a huge company and stands to recover nicely if we see the end of covid restrictions in the UK for good, this month or next.

Juventus FC: It was difficult to know what we should do here. With news hitting the headlines around the world that fans had broken into Old Trafford preventing the match between Manchester United and Liverpool from going ahead we didn’t know if we should pull out.

In the end share prices weren’t affected and we will hang onto this position hoping for more news on the much maligned European Super League after the statement that the contracts signed are binding and the league could go ahead after all.

New Positions

Dogecoin $25 - @ $0.5767 - Some might say we got in a little late on this trade but there was really no warning there would be such a jump in price. With so many well-known faces talking about this crypto craze on social media we might well have a candidate to overtake ethereum as the second most popular altcoin on the market. We only went for a smaller investment of $25 and will look to increase if there is any more positive news over the coming days.

Dogecoin was only started as a joke back in 2013. The meme cryptocurrency has increased its value by almost 1,000% in the last month and now has a market capitalisation of $76 billion. Big things are expected of this altcoin in the future; with the likes of Elon Musk giving his stamp of approval it’s no surprise. If he goes for a similar purchase like he did with bitcoin then the price will skyrocket and we must be ready.