Friday, September 24, 2010
Sept. 24, 2010
I sold SDS at 29.44. The buyers moved in today and I moved out of the trade. I think from here on out I'm gonna stick with the stocks I mentioned in my last post and keep them until they fall below the 50 day SMA. That's what I'm doing with Jody who is up 40% the last two months with Netflix. That's what I did with Google and Ford which did very well for me. I'm getting my ass kicked with these short term trades. I guess it's just too aggressive an approach for someone that actually works and can't watch the market 24/7. I did buy some DSTI stock. I got in at 1.83. I also bought CRM at 120.85. This has been very educational. Somewhat painful, but educational nonetheless. I'll update the scoreboard sometime this weekend. I know I'll be losing, but I'm still confident I can beat the S&P before the year is over.
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Yo. I haven't received any emails from this blog even though I signed up, which is weird. I was cleaning up my bookmarks last night and found it, so thought I'd catch up today.
ReplyDeleteMy favorite statement was your realization/frustration that buying and selling short is much harder when you actually have a real job. That's my issue too. I'd love to get into this more but with my job, kid, and numerous other interests, I don't feel confident doing too much without being able to invest the time. And the time would be worth it if you were realizing returns, but as you know that's far from a guarantee.
Your Nexflix comments were also interesting, especially since I just read a great article about them and Blockbuster last night in Time:
http://www.time.com/time/magazine/article/0,9171,2022624,00.html
If I had the money 7 years ago I would've invested heavily in Netflix, because anyone with any bit of knowledge and business sense could see this coming. I suppose hindsight is always 20/15 on these things, and there's always the risk that the Netflix guys had no idea how to run a business (after all, it takes more than just a good idea to be successful), but back then it just made too much sense. Wish I had the money then that I do now, but I suppose I could say that about the early 90's as well when Apple was under $1/share. Whatever.
Regardless, the video-rental landscape has been fascinating to watch. The above article also shows how quickly things in any tech industry are evolving, as now Netflix already has other competitors going after them (after only 7 short years of chasing Blockbuster...wow), including Apple and Wal-Mart. Yikes.
Glad to see you got into DSTI. I'm slightly underwater with this one since buying it earlier this year, but plan to hold it for a while and see what happens.
JT