Financial Friday # 16
This week we saw a bunch of earnings announcements. As we all know the economy is not doing so well. Monday BAC released its earnings for last quarter. Knowing this was coming I decided to short BAC right after the earnings call. The market tends to over react after earnings are release so I waited to see what the trend was. Once I saw the trend was down I shorted 1400 shares of BAC. Yes this was a huge play and risky. I did know the market was heading down and I watch the market the entire time I was playing BAC. I was ready to get out if BAC went above 10 for some reason. It worked out BAC dropped throughout the day and I was able to close out on Tuesday at $7.51.
I was able to make $3080 on the trade and get out safely. I decided to take the rest of the week off as I wanted to spend sometime outside and dig up some of the bones I buried last year. Not that it is nice the ground is soft and digging is fun again
Current balance: $16497
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 your 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