I have been known to dabble in the stock market. To an extent it is how I have bought both of my cars. But that was in the past when I was a trading maniac. Nowadays my job requires me to jump through hoops and adhere to holding periods. No more in and out and laugh about making a couple hundred bucks in a couple hours so I could buy a grill or a bike.
With the market on the volatile side and prices low, I have been a bit unhappy. Not about what I own that has gone down in price, but about the opportunities I have missed. There are a couple stocks I was watching that I didn't buy and totally regret. I didn't pull the trigger because of all the noise in the background. Buying when the noise is loudest has been a time to make money. So after missing out on positions that would see me up 35%, I jumped in the other day. I won't mention what stock I bought. It is a company I have been following for about 4 months. They will be reporting earnings next week so I expect good news. They also will be doing a presentation at a big brokerage firm conference. Feeling that and other news have been too good, I jump in willing to take on the risk. I bought 1000 shares on Tuesday, April 22.
On date of purchase, the price closed down 6 cents. No biggie.
Day 1, up 10 cents. Woo hoo, profitable.
Day 2, up 12 cents. That can buy me some beer.
Day 3, up 70 cents. I can begin to plan my retirement!
Look for an update on Tuesday.