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Cody Willard

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Sept. 13, 2019, 12:38 p.m. EDT

Slack’s stock is expensive, but the company looks like a long-term winner

Cody Willard also discusses the communications innovator’s competition from Microsoft

By Cody Willard, MarketWatch

The stock market has continued to rally, and suddenly this week, for the first time in months, there’s been some warming in what I call The Great Trade War of the 21st century.

Chip stocks have rallied right back to recent highs, the small-cap index has been on fire and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48%  even snuck in an all-time trading intraday high this week. Still, that doesn’t mean it’s clear sailing.

I’ve mentioned recently that I’ll probably remain lighter on puts/hedges. I suppose that can change, but for now, I’d probably look only to add some puts/short hedges on IWM /zigman2/quotes/209961116/composite IWM -0.57% SPY /zigman2/quotes/209901640/composite SPY +0.45%  and maybe the IGV /zigman2/quotes/201870252/composite IGV +2.16% , if you’re looking for more protection.

+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
US : U.S.: NYSE Arca
$ 138.90
-0.80 -0.57%
Volume: 41.63M
May 29, 2020 4:00p
US : U.S.: NYSE Arca
$ 304.32
+1.35 +0.45%
Volume: 119.27M
May 29, 2020 4:00p
US : U.S.: Cboe BZX
$ 267.27
+5.65 +2.16%
Volume: 974,355
May 29, 2020 4:00p

Cody Willard writes the Revolution Investing investment newsletter for MarketWatch and posts the trades from his personal account at TradingWithCody.com.

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