No Gain That is Too Small, Stock Traders Blog

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More About Me...

I hold an MBA degree, master of business administration with concentration in finance. However I lost 70% of my investment value about $70,000 over the course of 11 years. I dare not to put up my picture on the blog for fear I am going to be tag as the biggest loser. Nevertheless I learned from the pass and changed my investment strategy. I changed my whole mindset of investment and started over with what I have left...

No Gain That is Too Small

Posted on 10 July 2009 by BloggingTrader Tags: Stock Trading Diary

Yesterday I thought the University of Michigan Consumer Sentiment Index wouldn’t have a good reading today. It turned out to be true but the market didn’t drop as much as I expected. I was thinking the DOW would drop over 150 points at some time today and BAC would test the lows of yesterday’s $11.30 when I saw future dropped more then 70 points before market open. I was busy during the day and I set an order to buy BAC but never get executed. Close to the end of the day I took a short position on BAC in hope that a selling attack would happen but it never happened. I noticed that JP Morgan dropped a lot. It is going to release earning next Thursday. I originally though BAC is going to be the first big Bank to release earning on next Friday but JPM is one day ahead of it. And the first big Bink to release earning is actually Goldman Sachs which is on next Tuesday. So there will be a lot of earning to watch next week.

At the end of today I pull in about $30 gains on the BAC trade. No gain is too small to have.