It seems like it’s been a while since I last posted. And so much has happened since, like the government shutdown. As far as my trading activity it was a very uneventful latter part of the week with the exception of a short sale adventure on Thursday, which I’m going to detail later. Honestly after the day I had on Tuesday, I had a feeling the week would slow down. The biggest reason was the looming government shutdown. So let’s talk through the rest of the week:
- Wednesday – Was an up day, I was buying like crazy expecting to catch a run. Unfortunately, it didn’t happen. I traded CRUS, STX, BABA, GILD, XLNX, SWKS, INTC and ABT. All for a grand total of ($39.55). There really isn’t much else to say about that.
- Thursday – Was a down day. So I looked through my Short List and really wasn’t seeing anything in terms of what would fit my strategy so I stepped away. A few hours later I started thinking of just calling it a day, for no other reason than I feel a little funny selling short. But, I told myself that to get to $1 million I’m going to have to make money on a down day like Thursday. So I went to look at my Short List again and found GE, and if you’ve been following the news you know the stock has been getting hammered. I took advantage of the situation and sold it short. The result was a modest gain of $87.21. Although not a big gain, it was a big win terms of me getting past my mental block of short selling.
- Friday – Was kind of a flat day that ended up slightly. Which was kind of weird to me because of the shutdown. Was anybody surprised that the deal didn’t get done? I’m sure not. Anyway, I made a couple of cautious trades in CELG and RHI for a total of ($6.77). As uneventful as it can get.
In closing out week 3, I finished at $29,090.32. Short of my goal by $93.67. So I’m going to choose to focus on the positive, which is I’m closing the gap on my overall goal and I have a 3 week winning streak going that I expect to continue.
As I transition to Week 4, my goal will be $499.36. And I get the feeling that I’m going to have to take some bearish positions this week to reach that goal. The obvious reason being the government shutdown and the uncertainty surrounding it. So here is what I’ll be looking at:
- Short List – I’ll be checking regularly to see if there is a drop I can catch. A couple of notables here are GE, OSTK, NFLX and OC.
- Big earnings week with 19 stocks on my Most Traded list reporting such as BABA. TROW and INTC. On my Earnings Watch there are 21 stocks reporting such as PG, NAVI and CAT.
- Some of the stocks that I’m waiting to make a comeback are CRUS, F, GM, IBM and MU.
In conclusion, I’m going to take a very cautious approach to this week and pick my spots carefully. I believe this week has the makings of our first down week in a while. So I’ll be anxious to see how the market reacts and more importantly how my account reacts. I’ll be checking back in periodically on my social media accounts so be sure to click on the top right of the page and follow all my accounts. I hope you all have fun and very profitable week!!!