This is the first time I’m writing a blog post of weekly summary of my trading on eToro since I usually only write a short summary on eToro. I think it would be a better way for me to record down my trading acticity and to let my followers and copiers to have more understanding about my strategies and plannings. I myself as well as my new or existing followers and copiers can easily trace back my old posts in future.
This week, we started off with a great gains in oil trading on Monday as the oil price dipped during US market hours, but I managed to buy in more during the dip; within hours, the oil price bounced back. This week has been a bearish week but fortunately I managed to get myself off with gains before the prices went down tremendously. OPEC reported a forecast of reduced demands in 2019, while EIA reported another big build up in the US crude oil storage, at the same time, China-US trade war continues to bring the oil price down. US-Iran tension and reduced production by Saudi might be not strong enough to bring back the oil price, but there is still a few months to go before US sanctions on Iran crude oil exports become totally effective on November.
Regarding stocks trading, also it is a bearish week due to Turkey crisis; however, it can be seen as a good opportunity for value investing since the price went down and we will have a good entry point. This week, I bought in Apple since it is still a company with great space to grow and it again reached a new peak yesterday. With the Turkey crisis, I decided to grab this opportunity to buy in more stocks of Google, Facebook, Amazon and Netflix.
We are happy to hear that Dow had a biggest jump yesterday since April as US and China decided to resume their talk, and this may bring up oil price if US-China tension is reduced as oil market’s concerns of reducing demands since slower economic growth due to trade war.
Regarding XiaoMi, a lot of my followers and copiers might be worried about it but it shouldn’t be a big problem if we are holding it without leverage. As I mentioned earlier, many wall street analysts as well as China and Hong Kong analysts are giving good comments on XiaoMi, though some are giving only hold suggestions. We are excited to hear that XiaoMi is still the top one phone company in India, fourth in the world after Samsung, Apple and Huawei. Xiao Mi is not just a phone company as they are introducing the world with the concept of “Smart Home” by providing a varieties of electric equipments which can be easily connected to each other and to your smartphones. This would be a great future and XiaoMi definitely is the first company that can realise the concept of “Smart Home” which has been proposed for so many years. By the way, XiaoMi is going to release its financial report on 22 August and I’m looking forward to the report, and hopefully it is a bullish one.
Sources: CNBC, Investing.com