Due to heavy workload, there is currently no new activities on my portfoliio. This week's gain put me closer to the green, but all in all, I am still anticipating a crash. From where the market was last week, it looks like we have made a decent come back. However, on the overall graph, it could use another drop or two to be where a good buy is located. Again, because I am not yet an expert on these things, I could be looking the wrong way.
I didn't even realize that this week's gain put me this much closer to the green. I was down more than 10% at the end of last week. Though optimistic, I still plan to sell some with GOOD ENOUGH gains, keep the cash handy and when the market truly hit the bottom, I then can get back in at better positions.
As for the $500, it is still in solid cash... I don't feel like buying anything at this point. The market is swinging so much, and the Fed is still quiet about things, I'll just hold on to the zero gain/loss for now. We'll have a lot to buy with that money soon.
Due to heavy workload, there is currently no new activities on my portfoliio. This week's gain put me closer to the green, but all in all, I am still anticipating a crash. From where the market was last week, it looks like we have made a decent come back. However, on the overall graph, it could use another drop or two to be where a good buy is located. Again, because I am not yet an expert on these things, I could be looking the wrong way.
I didn't even realize that this week's gain put me this much closer to the green. I was down more than 10% at the end of last week. Though optimistic, I still plan to sell some with GOOD ENOUGH gains, keep the cash handy and when the market truly hit the bottom, I then can get back in at better positions.
As for the $500, it is still in solid cash... I don't feel like buying anything at this point. The market is swinging so much, and the Fed is still quiet about things, I'll just hold on to the zero gain/loss for now. We'll have a lot to buy with that money soon.
After I sold off my NRMX and TXCO, I proceeded to buy PRRR (see yesterday's post), and today, used remaining funds to buy 60 shares of AEO (-1.60%, 22.81) at 23.15. With its price being close to its 52 week low (21.07), I am optimistic that this would be a decent holding through recession.
Yes, I did mention recession, and with certainty. With the Dow surged past 14,000 a month ago, it is beginning to make its way down. Nobody can really predict whether it would be hard or soft landing, but few would argue that it is definitely moving downward. And even with big institutions moving their money elsewhere, like commodities, I do feel more comfortable putting my money into some companies whom I can easily walk into their stores and see its business operating on day-to-day basis.
Worst case scenario, I will lose 100% maximum, but the gain can be 10, 50, 100, 200, or even 1000% right? And talk about recession, I better start saving up and get ready for that big SALE event!
P.S. NRMX moved up 12% today (+12.61%, 3.93). This is one wild ride folks! Some insiders might have seen Bellini's new infomercial on his new supplement product! Also, PRRR was up (+11.11%, 4.80), but my purchase price was 4.85! Unsure whether to buy or not, I did not place the order until closed yesterday. Order was executed first thing in the morning, but already too late.
Bought 100 shares of PRRR @ 4.32 (will confirm after order filled).
What the heck is that PRRR? Pioneer Railcorp (PRC) is a railroad holding company that operates in two business segments: railroad operations and railroad equipment leasing. Railroad operations are provided by the Company's wholly owned short line railroad subsidiaries whose rail system provides shipping links for customers along its routes and interchanges with five major railroads, Burlington Northern Santa Fe Railroad (BNSF), CSX Transportation (CSX), Canadian National Railway Company (CN), Norfolk Southern Railway (NS) and Union Pacific Railroad (UP). In addition, the Company's railroad subsidiaries have interchanges with two smaller railroads, the Kansas City Southern Railway (KCS) and the Arkansas & Missouri Railroad (AM). PRC's rail system is primarily engaged in carrying freight. The Company's railroad equipment leasing operation provides locomotives, railcars and other railroad-related vehicles and equipment to its operating railroad subsidiaries.
BTW, this holding has nothing to do with my $500 tournament. This is for my Roth IRA and I am looking for something with steady growth and high dividends. Waiting to add CVX(+1.83%, 86.83), PCG (+0.83%, 44.87), or JWN (+4.49%, 34.50) after seeing how the market responds to the big jump today - closed: 13307.09 change: +319.54 (+2.46%)
P.S. At this moment, I might as well buy some AEO (+5.36%, 23.18) when market opens tomorrow.
Tomorrow will be the day my $500 is in place for the take-off!
Art (my brother) and I have decided to put our hard-earned $500 into doing whatever for one year period, and see who finish with better number. It is simple as that. We can go buy stocks (intended to), go to Casino (likely to happen too), adopt a cat, keep it in wallet, or buy lottery - regardless of what we do, the winner must finish with higher amount of money than the loser.
