Tuesday, March 03, 2009
Tuesday's Trading, Gone
The markets tried to rally but couldn't hold on in the final hour. That's the type of price action you'd expect in a bear market. (Yeah, it's indeed a bear!)
Yesterday's trading update - Another Manic Monday - For The Bears Anyway - talked me into buying General Electric today.
I bought at 7.67, 7.27, and again at 7.25. The POS is trading at 6.81 after-hours. Hopefully it will tank tomorrow so I can buy more.
Here's my dimwitted strategy - if it bounces quickly, I'll let it out. It will have been a *trade*. If it wallows here or crashes further, I'll just maintain that from the get-go it was an *investment*!
Seriously though, these days I won't make any substantial trade that I'm not comfortable holding for a while and averaging into.
Bear in mind that when I buy a substantial chunk of market bellwether GE, it won't entail the same risk as you or most others would. I have ZERO long exposure to the markets. And I'm talking retirement accounts and whatnot. Z E R O.
I did make one roundtrip trade today.
I bought SRS at 87.87 and sold it at 92.00.
It looks like my baby, er largest position, traded up to 99.49 today.
I did not see that apex as I was at ballet with Princess C-Nut.
I'm thinking about getting a Verizon Wireless AirCard for my laptop. Does anyone have any experience with that thing? It looks like it's $100 to buy the card and then $60 per month with a 2 year contract.
This way I can blog from ballet, karate, the library, or the park. Rightfully, Taylor should pay for it, no?
No music tomorrow. Apparently there are no Wednesday songs!