MELI and Fidelity

One of my swing trades features MELI (294). MercadoLibre had some accounting changes cause a first quarter loss and the stock has been under pressure. Down a hefty 25% from it's all time high, MELI is the kind of stock I can feel confident is still fundamentally sound, but at a temporary discount which makes for a good trade. 

Interesting MELI tid-bit is that Fidelity loaded up MELI in the first quarter 2018. They increased their holding a whopping seven fold, and the lowest the stock traded during the quarter was 322. I'm actually in lower than Fidelity. 

I'm looking to grab a quick 350 a share and get out of dodge, but we'll see how long this trade drags out....all's well that ends well. With a trade, I use APR, which of course is annual percentage rate. So a trade where you grab 50% in one week is an APR of 2600%.

Look MELI, we can do this the easy way or the hard way. Either way, I'm making money on this trade. 

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