Financial Friday 11 Riding the marker wave with Ford
This week was crazy in the market. Yes the market went up but I am not comfortable with it I still think we are going to see another fall before things turn. This week I played it safe I bought Ford (F). Why because Ford makes cars and F is was trading around 2 come on how low can it go. Ford is also the strongest of the big 3 so I figured why not have to put the money somewhere. I bought on Monday right around market open at 2.20 and rode the market upswing till Thursday when I sold at 2.70.
Really I was counting on the limited downside to Ford and that is would follow the market as a whole. Basically it is a cheap stock so it moves a lot percentage wise when the market swings. Really I could have bought almost anything since I really just wanted a cheap stock that would follow the market as a whole. I like Ford though they gave us the assembly line and a whole lot of crappy country songs about trucks.
Anyway I bought 1290 shares at 2.20 and sold them at 2.70 thus making $645 this week on a play that was really just riding the market trend. Be careful I still think we are going to see a drop. Oil prices are climbing which is generally a signal that the market will do something.
Current balance: $3485
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