Financial Friday # 4
Anyway this week I traded Hartford Financial Services Group (HIG). HIG had been pounded by the financial sector issues however we were seeing a line of resitance around $15.39. I was able to buy 30 shares at 15.45 and was able to get out when I saw the trend heading downwards on Wednesday afternoon. I ended up selling at $17.70 making $68 for the week or a gain of 15% which is pretty good for a stock I only held for about a day. This week was a quick turn usually I like to hold things a little longer but all the indicators were saying HIG was a good play so I rolled the dice.
Sometimes you win and sometimes you lose being capitally challenged I need to be much more aggressive than I would like to be. Being aggressive is fine as long as you take calculated risks. I have started backing all my plays with stop orders to limit my potential losses. Currently I am setting stops 20% below my purchase price to preserve capital in the event one of my plays does not work out.
Current balance: $541
Disclaimer: I am a dog. I am not responsible for any investment decisions you make. Come on if you are reading a dog’s ODD to get ideas for you portfolio you have issues. I do not recommend using any of the information to make any investment decisions. Basically I am not responsible for your money. Do what you want but I have no responsibility here. Come on I am a dog. I don’t think you can even sue a dog. The information provided on this site is not financial advice and I am not a financial professional. This is a journal that details my investments, strategy, and analysis for personal use. Feel free to read at your own risk