ss_blog_claim=bf53c2c2a6b5e4b759eb9b46babec032 Stephen the dog: Financial Friday #8

Tuesday, March 3, 2009

Financial Friday #8

Like I said last week I was looking for BAC, HIG, ABK and MBI to rebound this week. I noticed that BAC dipped under $4/share and I bought at 3.79/share. I bought 335 shares as I saw this as a huge opportunity. My A also bought 100 shares in his portfolio.

I sold out at $5.70 right after it hit the top of the channel thus making $2/share or $670. My A decided to stay in and put a stop order in a $5/share. Unfortunately at opening BAC fell from 5.67 to 4.40 before his stop triggered. I think my A ended up making like $10 on the trade after commissions. Just goes to show you that you should listen to the dog. Oh yeah and just because you put a stop in at 5 does not mean it will actually sell at 5.

Financials were getting hit hard on Friday so I am glad I got out early I expect that trend to continue into next week with a slight recovery near the end of the week or early the following week. The market is pushing these stocks down hard they will recover it is just a question of when.

Current balance: $1942

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


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