So I have been thinking about getting this journal going for a while now so I have some free time finally so here we go.
I'm only 27 years old I have been watching cnbc/markets since 2006 but never did anything even during the worst times could've bought some great companies in 2008 but I had a lot of problems at the time. Partying a lot, blowing through money so it was a crazy time . Things have settled in the last year and a half so I'm really happy that things have taken a positive direction in my life!
I work as a Software Developer and I really love what I do. Good thing about being at a computer all day is that I can check up on all my trades but I do miss being able to watch CNBC (no way I could stream that at work, lol). I don't have any grand plans of trying to make this into a full time job. I'm just finally getting my ass in gear instead of sitting around all those years watching/trying to learn but never making a move. I would love to do this full time but I know that isn't realistic at this time.
Ok, enough about me here are some of the current positions I have:
Total Portfolio: $11,000
IBM - LONG
V - LONG
BAC - LONG
AA - Closed this week (LOSS, got tired of waiting and moved that money into BAC and it more than made up for it!).
As I trade more I find myself wanting to be more active instead of the mindset I started with which was to just buy/hold for long long periods. One thing I feel good about now that I didn't before is knowing when to finally man up and taking my licks. If the stock just isn't ready to go it's time to just let go instead of being miserable waiting on it. One person I feel that I really have learned a lot from is Scott Redler (t3live.com). I'm now starting to also use what he calls a Tier system approach to trading. You find setups you like and buy what he calls an entry level (Tier 1) position. When you see the stock actually moving and it looks like it's finally in play you add Tier 2/3 accordingly. When you see it reach goals you have set or you see it's about to change momentum after breaking out then sell off a Tier or two and come back down to Tier 1. If things get even worse then get out of Tier 1 as well.
I'm really loving the morning calls and daily recaps he does. When I take the train into work in the morning I'm always watching the morning calls from my iPhone. It has now become a permanent part of my day and it's freaking awesome how this is free.
So going into this week I'm not really sure what to think. $BAC has been amazing for me and I'm thinking of selling off my Tier 2 on it and booking that profit. I really like BAC up until earnings because I don't know how well it's going to do and I don't think it's worth taking that chance.
The 50day just crossed the 200day on $BAC. I think this is going to plow right through and touch $11.
I think this still has ton of room to grow especially considering how hot tech is. IBM watson does some amazing stuff and there's always new news about them signing contracts to put Watson to work. I strongly believe their earnings are going to be great again this quarter just like they have been all of the previous quarters. The only issue I have here is this was an expensive stock relative to my portfolio size. Trying to earn more bang for my buck here but that can be risky and I dont know if I want to go down that route.
Volume has picked up on friday and it's building a new floor here.
I have been waiting on this one patiently for a while now. Look at this chart below here:
It's trading in a nice tight channel (just like $IBM was when I bought into it). The company has really good fundamentals and 0 debt. The only thing that worries me is the passing of Dodd Frank which is going to hurt the fees $V could collect on debit cards. Also there are some lawsuits pending but there is money set aside in escrow for that. So combining the tech side and the fundamental side I think this is going to conclude very soon. Hopefully for me it's to the upside..