Welcome to my first post of Week in Review! Since my tagline is “A Woman’s Journey Through the Stockmarket” I knew I needed to post regular updates of how I’m doing.
I am not making ANY recommendations to buy or sell stocks. Just because I bought or sold a stock this week does not mean you should. By the time you read this, the opportunity will probably be long gone. And that’s assuming I did it right! This is purely informational (or maybe more entertainment) value for you.
There’s a learning curve here. I’m taking notes most days of what I’m learning, and I update my active stock list. I realized that once a day has passed by, the record on my online account is in a digital abyss. So Tuesday I started taking screenshots of my end of day results so I could make some accurate reports at the end of the week.
Sunday – read Mike Webster’s Weekend Market Update in Investor’s Business Daily and read other articles that interest me. Review my stocks.
I take a walk every morning and listen to podcasts or audio books. This week I mostly listened to O’Neil’s book “How to Make Money in Stocks”. It is the method I have chosen to use so this is the third time around that I am listening to it.
IBD Live: Every morning I watch the Zoom meeting of Investor’s Business Daily Live team to learn as experts comment on the current market and analyze several stocks during this time. It is probably my best educational experience.
- 3 week tight concept is interesting (my interpretation: when a stock stays very close to one price for 3 weeks, it creates a version of a base. Look for when it breaks out higher.)
- IPO’s (Initial Public Offering) were discussed. Usually those are very volatile and risky, but I’m thinking I might want to get a small position in one someday. I have one in mind that I’ll keep an eye on.
- A new buy point was pointed out for Microsoft stock, but it blew past that and was too late to buy.
- Wingstop was also covered as a stock that just soared up but is too extended to buy it. Too risky. Too bad. I love their fries.
- Friday – watching all these stocks just break out like nobody’s business! Of course they are ones I don’t own. Too extended for me to be interested.
End of day – I review the edited Q&A for IBD Live to see if there is anything in there I need to remember or learn (there always is.) I also edit my stock chart to enter newly bought or sold trades and then I enter the current day’s closing prices. Then I compare that to my sell prices, either for a profit or a loss.
I ordered another book earlier this week, “Pit Bull: Lessons from Wall Street’s Champion Trader” by Martin “Buzzy” Schwartz and have been reading it these last few days. There are many good lessons in there but one that sticks out is “Always have a plan.” See my post Defense Is Everything in the Stock Market! It’s all about having a plan.
Monday – I know it was a good up day from Friday. The Friday before had been terrible! Not terrible enough to sell anything, and I know Monday pretty much canceled it out, thank goodness. But I hadn’t started taking screen shots of my portfolio so I don’t have any data for that day.
Tuesday – I decided to sell all of my shares of one REIT (Real Estate Investment Trust) as it was a real drag on my account. It dove over 80% and it was just bouncing up and down off the bottom every day. It was a constant reminder of my huge mistake of not selling it at an 8% loss. My portfolio did really well Tuesday, rising 1.7%. My best performing stock was ServiceNow (NOW) +4.51% and my worst was Netflix (NFLX) -.81% which is almost nothing.
Wednesday – I started thinking how my other REIT goes up and down about $.50 each day. Wondering how that could become small profits for me. So I sold my shares in 2 accounts (smaller amounts) when I saw that it was up for the day. Now I’m going to watch it and buy when it drops down again but not today. Stock market had another great day. My portfolio increased 1.1%. The best stock was Repligen (RGEN) up +8.9% and NOW was down -1.42%
Thursday – REIT never got low enough to buy back. Market was moving up and I made another 1.2% total for the day. NOW was again the best performer with +4.50% increase and RGEN down -1.97%
Friday – one of my stocks got to a 25% profit from purchase. As I have found out, it is very difficult to sell, either at a loss or at a profit. I hemmed and hawed until I finally sold a third of my shares which is a good rule. “Take some of your profits at 20 – 25%.” See my post Selling Stocks to Lock in Profits. Then I went to exercise, listening to more of the O’Neil book and it addressed stocks that went up pretty quickly. “Better to hang on to them.” So I immediately bought them back, $3 cheaper than I sold them. This learning curve is crazy! And then I bought a small position of AAXN. I’m going to use the low price of this day for AAXN as a sell price if it drops Monday (or later.) Overall performance for the day was up .83%.
This week’s total change from Tuesday through Friday was a positive 4.83% increase in my portfolio. As I said, Monday had been a good day too but I don’t have the numbers. I know this is unusual to have it increase that much in 5 days and I am very ready to pull the plug if it starts tanking next week. Of all the reading and listening I have done, I’ve learned to listen to the market. It doesn’t care what I want or hope for, and I can’t make it do anything.
I hope this is helpful to you and will continue to post these reports as long as it IS helpful. I’m so glad you came along to witness this woman’s journey through the stock market. I just started actively trading 2 months ago so there could be some crazy reports as I make good AND bad decisions along the way. Happy Mother’s Day to all of you moms and I’ll see you next time!
Until next time,
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