Today is the last Friday of this Q1 and wow, it's been an eventful quarter. The nice rips we had in January and February, followed by the madness that followed with Gamestop (stay away) and all the other meme stocks was wild. We saw a massive tech pullback in mid February that really didn't bottom until March 8th and that had me sorta worried, it probably humbled a lot of new investors... they learned stonks don't always just go up.
Fortunately for me I had some nice day trades & weekly swings of TQQQ, SQQQ, and TSLA this quarter which gave me some meaty realized gains and helped me reinvest in some long term positions I like.
But unfortunately, Q1 as a whole has not been great though for me. After an amazing 2020 which saw my rate of return at 65% (an annual return I didn't think I would ever achieve), I am down 8% since the year started on my entire portfolio due to the tech pullback and my failure to predict the bottom.... whoops.
That's all in the past now.. the question is where are we headed. Historically, September and February have always been known as awful months, these last 2 were no exception so I guess the market forces are still somewhat intact. If the past is any indicator of the future then it should be pointed out that April historically has always been the best month for the market. I expect more kangaroo market movement in Q2 where we rip maybe even 10% in April followed by a 5% pullback in May (sell in May and go away). In the meantime I am still bullish on the Nasdaq and expect tech to recover sooner than later back to our early February highs.
If Biden's plan for vaccines works out, we might even see a return to somewhat normalcy shortly. Would be nice, I can't wait to put those f_cking masks away in a drawer and never see them again 😎
