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Puru Saxena Profile picture
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26 Mar, 4 tweets, 1 min read
$ARKK has sliced through yesterday's lows 🚨
Since early March, this is now the 4th test of this area which is just around the 40-wk EMA.

Bulls want this line to hold; if it gives way, could get ugly!
Here is the *hourly* chart showing the line in the sand -

Note 4 tests of this area in March. $ARKK
UPDATED hourly chart -

4th test of the line has been successful thus far; price has once again bounced off the $110 area (just above the 40wk EMA) and now the onus is on the bulls to put together a rally. $ARKK

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More from @saxena_puru

Puru Saxena Profile picture
25 Mar
ARK Innovation ETF $ARKK

Big pullback after *monster* parabolic rally last year.

Early March decline found support at 40-wk EMA + fib support. That is first level of support and if it gives way, then 50% retracement level might come into play. Image
$ARKK has bounced off $110 area twice today (40-wk EMA) --> higher than early March correction low of $106

So far so good, interesting to see if it can now stay above this critical level.
$ARKK - Third test of the $110 level today; held so far.
Read 4 tweets
Puru Saxena Profile picture
25 Mar
1/3) @cperruna calling out my change of portfolio positioning (levered long to hedged) as "BS" and claiming that his large cash position has been handy during this drawdown.

His portfolio positioning is none of my business but he has been in cash for a long time...
2/3) Here is another screenshot highlighting his big cash position last year -
3/3) Finally, here is another screenshot from Nov '2020 once again showing his 30% cash position.

The guy sat with 30% cash position from May until Nov '20 (waiting for a pullback) and now bragging how his cash position has reduced his drawdown! Genius!
Read 4 tweets
Puru Saxena Profile picture
25 Mar
Important message -

A FinTwit FURU @cperruna who has been sitting in 40% cash for 9 months is now gloating how his cash position has reduced his drawdown during since February!

At the same time, the self-appointed "Twitter Police" @guruleaks1 is now calling me...
...a charlatan because I went from 150% long to hedged in a day!

I've stated before - I make investing mistakes but don't stay wrong. Obviously, being bullish last week after the recent Fed meeting was misguided but I changed my hedging strategy in real-time...
... I shared my thoughts on my timeline, honoured my trailing stop/cut my loss on my long futures position and then, hedged my portfolio based on my new indicators.

I am not anybody's consultant, don't run a paid service of any kind and don't even have any obligation to post...
Read 5 tweets
Puru Saxena Profile picture
21 Mar
Stock market trend check -

1) $SPX

Primary trend = UP
Short-term trend = UP
2) $INDU

Primary trend = UP
Short-term trend = UP
3) $NDX

Primary trend = UP
Short-term trend = DOWN
Read 5 tweets
Puru Saxena Profile picture
21 Mar
Investing in 'safe' companies -

During this sell-off in growth stocks, I've received many comments about how unsafe and dangerous my companies are and how I should perhaps invest in some 'value' names to capture the rotation and reduce risk.

What is 'safe' is of course...
...a personal decision but any business which is swimming in debt, past its prime, struggling to grow and dependent on an over-indebted government's helicopter money is *NOT* safe IMHO.

Yes, such a 'value' play may do well temporarily on the back of the fiscal jab but the...
...sugar high will wear off with time.

The sharp selloff notwithstanding, I prefer to own the high growth, secular compounders which are growing at an unreal pace and are led by visionary founders/CEOs.

These companies allow me to sleep well at night because I know their...
Read 4 tweets
Puru Saxena Profile picture
16 Mar
I've invested in $CPNG and $RBLX

Innovative businesses, great management teams, long growth runways, carving out 'moats'

Disclaimer - This is NOT a recommendation, these are high growth/unprofitable companies. Nobody should buy any securities without doing their own DD.
$CPNG CEO recent interview on CNBC -

Coupang --> ecommerce/fintech/streaming/food delivery

$RBLX CEO recent interview on CNBC -

Read 4 tweets

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