Financial Friday #9
Crappy week in the Market this week. Pretty much everything took a dive. Currently all the financials seems to be consolidating so there are a bunch of long term buys out there. I like BAC at 3 as a long term buy and hold position. It may drop some more but odds are it is going to rebound in the near future. It could also go to zero but the buy in is low so it is decent gamble.
This week I moved away from financials Ford Motor company was showing a nice consolidation channel. I decided to short. I shorted 1000 shared at $1.92. I was able to get in right at the top of the channel. I stuck a stop behind it for protect but held as it fell out of the channel. The consolidation pattern lead me to believe it would break through the bottom line in the chart. It did and I was able to cover the short at $1.70. Thus I made $220
I am pulling my original $300 out. I have been lucky but I don’t want to risk my original capital so I am moving the $300 to a money market account
Money Market 300
I promise I will get a non financial post up soon.
I have a response from American Airlines I need to figure out how to scan in.
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