It had to be, because I really am too new to this to make predictions with any accuracy. If you have a pulse and follow stocks at all you know that Citi killed it today, closing above $5 to finish up just over 9%. Pre-market trading is up nearly an additional 2%, hovering around $5.15. This, along with a healthy gain at AOB pulled my portfolio into the positive today despite a decent drop on GNBT and two small losses on WM and AKAM. It would be nice to have more clarity on my portfolio as I only really feel like I have a decent grasp on what Citi may do on a day to day basis. I'm left sifting through news articles and feeling lost on the rest of my portfolio as seemingly good news sends them lower and vice versa. I want to chalk it up to a temporary hiatus of rationality in the markets but I can't. AKAM was getting punished today in early trading for no apparent reason when bulls stepped in and scooped up the bargain, so there is some rationality left, it just seems inconsistent. [more]
After a steady surge in my holdings, the weather was overcast and rainy on both my hometown and my portfolio today. Citi continued its cooling, which will last at least one more day if not two, hopefully turning around by Friday. That was an expected hit to the portfolio. While I did gain a solid 1.46% on my largest holding, Akamai today, it wasn't enough to offset my losses in C, AOB, and GNBT. Now for a brief analysis. [more]
My CAPS portfolio is off to a lukewarm start, but my own small portfolio is plugging along nicely. I own shares of AKAM, AOB, C, GNBT, SLS (on Yahoo! it is SLSZ.PK, but I'm unable to locate them on here, most likely because they went belly-up several months back and the stock is worthless), and WM. This arrangement automatically set me up for at least a moderate term investment as the value of my portfolio makes the trade commissions substantial, but I'll do my best to explain my logic. [more]
I still haven't figured out exactly how to ensure that my CAPS picks start tracking right away and it hurts. Both FSLR and BNPQY.PK did exactly what I expected them to, except their roughly 15 CAPS points don't count because the pick wasn't active. Go figure. Overall, I'm still happy with my picks and have faith that over the next couple of weeks that my logic is correct.
It's funny that I mention this because I initially started trying to buy Citi shares when they were at a dollar, but because of my sporadic transfers to my online brokerage account they were back to $3.10 before my money was available and I jumped in. I still like my position but wish that I didn't know multiplication and division because they will haunt my investing nightmares for years to come (one week cost me roughly 300% of return, but who wants to triple their money anyway?). Regardless, I thoroughly enjoyed watching the stock reverse-Plinko up to its nifty close at $4.48 today, but I worry about tomorrow. I think that the 5.6% advantage that Citi had over the KBW index today is earned, but I find myself cringing at the idea of the stock being brow-beaten back to sub-$4 levels simply because of speculation that "they're not out of the woods yet." Granted, they aren't, but management has their compasses out and are headed for the clearing like they were Bear Grylls. A few recent successes (converting preferred shares to common; offloading some burdensome assets) have been big but overhype may continue to set back any actual sense of recovery. Boom or bust is bad for Citi because 8.5% gains won't save them from short-term 8.5% losses, and my tiny portfolio would prefer steady, slow growth from C. [more]
I jumped back in after a long sideline stint. I had some shares of BBY left from a college job that I picked up through their ESPP that I finally offloaded. I wasn't going to get back above water for awhile and there's too much money to be made now to wait for even. My general watch list has fared pretty well through the downturn so I plucked some of my cheaper selections off of it to invest in. I jumped into WM for its dividend, GNBT for its boom or bust potential, AKAM for its medium range growth (I'm personally looking at 1-3 years which is probably eons for serious investors but I'm still wet behind the ears), and AOB purely on a "Why the f*** not?" whim. It's not that I don't like the company, but I have a romantic Wild West view of Chinese investing where rules don't always apply and logic sometimes has no place. [more]