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Another Day In The Stock Market

With the economy the way it is right now along with the volatility in the stock market, If you have the ability to trade stocks on a daily basis (day trader) or even holding for a day or so, you can make some money without really trying.
You will still have to do your homework and research on the companies that you want to invest in, but if you have a list of stocks that you’re very familiar with, playing the volatility is quite profitable.
Yesterday I spoke about building position in the companies that you want to invest in. When the markets were at their lows, I started to do so. I actually picked up some at good prices, even though I would have like them to come down some more. I told you in the past to buy in increments, not all at once. If the price did continue to fall yesterday, I would have bought more later on.
I bought Apple (NASDAQ:AAPL) @ $134.75, Joy Global (NASDAQ:JOYG) @ $34, Research In Motion (NASDAQ:RIMM) @ $76.25 and last, but not least, Sirius Satellite Radio (NASDAQ:SIRI) @ $0.325. I expected prices to bounce back up yesterday as well as a little bit more of a gain today. I was right only three of the four trades I did. This morning I waited for the opening to see what I was going to sell. At the opening bell, Sirius was up to $0.43 per share and after the negative news about their downgrade, I expected it to drop down below $0.40. I put in a limit sell order for $0.425 and it sold shortly afterward. A gain of 30% over night. To be honest I was planning to hold on the Sirius for the long term (until their next earnings report ), but when I was up that much, I sold it and will continue on the next dip.
As for Apple, I was also able to sell my shares at $138, for a gain of 2.5%. I know that isn’t much to boast about, but if you think that you can’t even get that on a basic 12 month CD these days. Take into consideration that I did buy large amounts of share that help offset the fees that were charged to me. Joy Global was the last on I sold this morning. I sold it at $36.50 per share, for another gain of 7.3%.
As for RIMM, I didn’t get the action I wanted, but that’s OK since I do expect that to run into the $100 range in the coming months. I will continue to hold on to the share and add to my position.
You need to take advantage of the opportunities when they present themselves, so if you are able to trade on a daily basis, good luck.

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One Response to “Another Day In The Stock Market”

  1. yut says:

    Pretty good post. I just came by your site and wanted to say
    that I have really liked browsing your posts. In any case
    I’ll be subscribing to your feed and I hope you post again soon!

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