Blah
So the title pretty much sums up my mood right now. It's 7PM and I am debating going to sleep for the night. I've had a long couple days of work (10-11 hours per day) and I am not getting much sleep once again. I've already set up camp in my room for the evening since I am not even up for socializing with TheCrazyCanuck this evening. Poor Gary. You should all feel sorry for me.
Anyway, since I don't want to depress my fan club anymore, I guess I have one story I can relay. Occasionally, I do some research on stocks and mutual funds so that I can invest my money wisely and hopefully set myself up to retire at age 30. Normally I just put any extra money I have into safer mutual funds and more conservative stocks. Every once in a while I take a small gamble on some stock (or the Powerball lottery) to try and make a little extra money. Back in March, I took a little more of a gamble than normal. There was an online retailer that had fallen down significantly from it's high after a few rough quarters. I watched the stock for about a month and then I got in after it started to rebound (around a price of $5.75/share). After an initial bump, the stock fell pretty hard. When it hit $4/sh I was a little pissed with my gamble. However, about 3 weeks ago the company announced a very solid financial quarter. The stock boomed to $7.25 a share in a short period of time. I was back in the money! :) I thought about getting out, especially since the company was spinning off a portion of itself through a rights offering and I don't fully understand how that could impact the price. I put an order in to sell the stock at just over $7.30/sh so that I could make an even $1000 on the investment. Well, the stock tanked again today and I was never able to sell since I was too busy at work to take a look at the share price. It dropped as low as $5.10/sh today before closing at $6.89. Needless to say, it was a volatile day. I don't have the slightest clue what is going on, so I am just going to get out tomorrow while I am still ahead.
What is the moral of the story you ask? Never gamble on an investment you don't know much about, unless your name is Hawkeye. Then, gambling on stocks is highly encouraged. I'm sticking with mutual funds in the near future.
Anyway, since I don't want to depress my fan club anymore, I guess I have one story I can relay. Occasionally, I do some research on stocks and mutual funds so that I can invest my money wisely and hopefully set myself up to retire at age 30. Normally I just put any extra money I have into safer mutual funds and more conservative stocks. Every once in a while I take a small gamble on some stock (or the Powerball lottery) to try and make a little extra money. Back in March, I took a little more of a gamble than normal. There was an online retailer that had fallen down significantly from it's high after a few rough quarters. I watched the stock for about a month and then I got in after it started to rebound (around a price of $5.75/share). After an initial bump, the stock fell pretty hard. When it hit $4/sh I was a little pissed with my gamble. However, about 3 weeks ago the company announced a very solid financial quarter. The stock boomed to $7.25 a share in a short period of time. I was back in the money! :) I thought about getting out, especially since the company was spinning off a portion of itself through a rights offering and I don't fully understand how that could impact the price. I put an order in to sell the stock at just over $7.30/sh so that I could make an even $1000 on the investment. Well, the stock tanked again today and I was never able to sell since I was too busy at work to take a look at the share price. It dropped as low as $5.10/sh today before closing at $6.89. Needless to say, it was a volatile day. I don't have the slightest clue what is going on, so I am just going to get out tomorrow while I am still ahead.
What is the moral of the story you ask? Never gamble on an investment you don't know much about, unless your name is Hawkeye. Then, gambling on stocks is highly encouraged. I'm sticking with mutual funds in the near future.
posted by GaryGinew at 7:06 PM
1 Comments:
that was not a drunk dial! we are sober!
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