First you have to know that I’m really not interested in holding anything overnight, because this market is a little scary to me. The more we go up just because the FED is pumping money into it, the more scared I become for a big correction. I just read an article in my brokerage account that the FED has the green light to pump more money into the market through mid-November. I guess this means we are good to go, buy, buy, buy!!!!
First thing Monday morning I bought 100 shares CVLT @ 27.5699, total cost 2,766.98. I sold those 100 shares 4 hours later via a tight stop loss for 27.90, for a profit of 12.98. Next I bought 100 shares of TDC @ 38.02, total cost 3,811.99. Sold it 1.5 hours later via a stoploss order @ 37.62 for a loss of 60.05. The next item I sold was an ETF, SPXU that I carried over from the week prior. This is a 3xbear ETF banking on the market going down, but the market was trending up. Took a loss of 113.00. The only stock I had left was REDF, a total momentum play because this company does not turn a profit yet. I had purchased this stock the week prior. I bought 500 shares @ 4.05, total cost 2,034.99. I got stopped out of this position via a stoploss order @ 4.40 for a profit of 154.98.
Wednesday while at work, I was sniffing on RIMM and thought I could make a quick buck. So I was waiting for an entry and a stinking thunderstorm came running through Leesburg and knocked the internet connection out. I fired up the phone and and ended up buying 200 shares @ 48.50 after watching the level II quotes with no charts. I knew that it was within the open range and close to the upper band of that range. I also knew that it had broken out of that range and settle back into it. It looked to me that 48.50 was support. I was wrong, the remainder of the day it sunk to close at 47.64. The next morning looked worse when it opened at $46.55, but it began a big run up and I was to chicken to add more to my almost $10,000 initial purchase. RIMM went as high 48, but closed even lower at 47.26. It was looking grim. Friday things changed as the market gapped open 1% higher and climbing. At first RIMM was not participating, but eventually came around. RIMM had a high of 48.94 and closed at 48.87. Somewhere during that climb, I reduce my holdings by selling 140 shares @ 48.65 for a $1 profit. The remaining shares are in the money and back to my normal entry level of around $3000. Hoping to get a pop next week on the announcement of the Blackpad when it is introduced next week.
Thursday and Friday, my days off, I spent most of the day watching my screens looking for momentum plays. Thursday I bought 500 shares of REDF @ 5.40, total cost 2,709.99. I also bought 100 shares of SCS @ 7.4199, total cost 751.98. Friday I increased my position in REDF by another 500 shares @ 5.88, total cost 2,949.99. I will add more here if the stock goes through and stays above $6 per share. I also bought 30 shares of AMZN after CITI raised price per share from 150 to 190. I bought the 30 shares @ 156.50, total cost 4,704.99.
Right around lunch time Friday and also right around the high of the day, I bought 100 shares of the 3xBear shares ETF, SPXU expecting that the market would collapse a little bit after it’s big run of the day. I was wrong and glad I was. It was my insurance policy in case everything collapsed and I’m only down $22 on this position, since I bought almost at the high of the day.
Summation:
Current Holdings:
30 AMZN up 126.90
100 SCS up 17.00
60 RIMM up 22.00
1000 REDF even
100 SPXU down 22
Total actual realized gains for the week: Down $4.09 (this does include commissions.)
A lot of work an sweating for a $4 loss, but it sure was fun!!
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