Alteryx (AYX)

[admin]

We're keeping a watch on this one as we missed our own designated buy opportunity last year (at $30!), the problem is that these SaaS stocks have gotten very expensive and a valuation correction was always possible, even if there is no fundamental deterioration of their businesses. We just published an article about that. 

Technically the stock doesn't look promising though, unless we get an epic recovery in the afternoon..

[admin]

And we're just bought 100 shares AYX at $93.85 for the SHU portfolio. While technically, the shares look bad one can wait forever for a stock to go lower still, we think establishing a first position now is warranted. We might add if the stock falls significantly from here, depending on fundamental news.

[admin]

We got in because the stock is already 35% below its 52 week high and it looked like it might rally back up to support levels earlier today. That didn't happen, so we might be heading lower short-term, but this is a first position only. One can wait forever for a better opportunity that might never materialize, which is exactly what we experienced last year in this stock. Better buy in increments.

[admin]

Move indeed lower, not a big surprise given what we argued above, even if it's disappointing. No reason to add immediately. Finding the bottom is mostly down to luck, and since we have established a first position there is less need to buy.