Sunday, August 26, 2007

Financial Update

Well, as my post from last week suggests, I believe that the stock market will be kind to investors over the next 5 years. I continued buying all the way down, though I'm still slightly underwater when my buying over the last few weeks is averaged out. I did make a few short term trades that were profitable: I bought 600 shares ETFC, a brokerage/banking stock, for 13.20/share and sold a few days later for 15.85.

So what am i doing now? Well, i've put almost all of my cash into buying S&P500 index funds, buying down into the dip, so I don't have much more sail to put out. I'll be selling some small cap index funds in order to buy more ETFC tomorrow. That stock (at roughly 15 and 1/5 bucks per share) is cheap I tell you, cheap! If its worth a penny its worth 19 bucks a share. I'll be buying on dips and selling for a quick profit, if I can, for as long as ETFC stays below 19$.

I also bough some MSFT last week for 28.25/share. I'm expecting MSFT to get a bump over the next few months as HALO 3 hype machine goes into overdrive ... I'll sell for a quick profit at around 31$ if I can. If not I'll gladly hold it for the long haul.

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