alevin's Account

[alevin]

Nice to hear, Lady. It's a value I live by-or try to.

Just an update re my account(s). No action yet in the Roth, but I now have tradeable funds to work with.

Tradeable account action-Last Wed, I sold my IBB for a gain (see earlier post), Friday I did decide to try to unload slightly less than half my GLD (coulda, woulda, shoulda dumped the entire amount for sake of trading cost if nothing else). Bought it at 90, sold partial at 85.55.

The way the action was going Friday am before I left for work, I didn't think I'd get the sell limit I'd set, since price action had already steadily slipped below that level by the time I put my order in and committed to it. It was a day order only, good thing I didn't say sell at close, since it closed lower than the come-back level I unloaded at later in the am after I left for work. So far ( mostly due to trading fees), I'm down about 6% between the two accounts total-losses incurred in the taxable account. The more I trade the more account fees eat into the capital base, even when I don't sell for a loss.

Gotta watch that way more closely and do even better job of picking things I'm willing to hold for longer periods, or things with high volatility where I can get in on the right side of the trade and have enough time available to react to price changes. Not sure what that will be yet, workin' on it tho.

[XL-entLady]

... Friday I did decide to try to unload slightly less than half my GLD (coulda, woulda, shoulda dumped the entire amount for sake of trading cost if nothing else). Bought it at 90, sold partial at 85.55.

.... So far ( mostly due to trading fees), I'm down about 6% between the two accounts total-losses incurred in the taxable account. The more I trade the more account fees eat into the capital base, even when I don't sell for a loss.

Gotta watch that way more closely and do even better job of picking things I'm willing to hold for longer periods, or things with high volatility where I can get in on the right side of the trade and have enough time available to react to price changes. Not sure what that will be yet, workin' on it tho.

I have also decided the hard way that in the last couple of months the only person I was making money for was my broker. I'm down way more in my account than 6% - like about 20% - because of the dumb moves I made with FAZ. That was an expensive lesson but I learned it well. Levered funds that rebalance daily might work for some folks but not for me!

Re the stock picking, I'm taking a book with me on my medical trip (leaving this morning) that may have part of that answer. It's called "The Ivy Portfolio" by Mebane Faber. I'll report back to the group on what, if anything , I learned when I return.

Until then, good trading my friend!

Lady

[alevin]

OK, today I decided to go mod-high risk in the roth account. bought ATN (U.S. based exploration and production outfit) @ $15.76, already gone up enough to cover the transaction cost-yay! It's been tracking the broader market tho, hit bottom early March, been on sloooow climb back since then, which makes me think it won't hurt as hard when the market takes another dive at some point (if I don't get out soon enough). P/E is excellent at the moment as is Price/book value, but yield is quite high, so there is trouble there internally I suspect, will be keeping sharp eye on things. Bought in Roth account so wouldn't have to pay taxes on interest income. Fingers are crossed, my first single-stock buy.

My second move of the morning isn't going quite as well-bought BP in taxable account-would have preferred to get in Roth account but not enough cash there at the moment, so into the taxable it went. Already went down a few bucks since the buy at $43.35 too. Ah well, they are in major cost-cutting mode, so P/E may get even better. it has an excellent P/E and dividend yield at the moment, not as high a yield as ATN so paying tax on dividends wouldn't in taxable account won't hurt quite as much. Wouldn't Birchie be proud?

[alevin]

wow! I got in on ATN at a good time this morning, if had been earlier, could have scooped 11+% gain on the day with my morning buy. as it is, probably more like a 66 gain on the day (haven't run the calculations, rough estimate at this point). Enough to cover several of my less successful trades earlier on. But its my first single-stock buy, it pays a pretty high dividend and is cheap, so will plan on hanging onto it until P/E is 22 or more (read that as a sell rule of thumb for dividend stocks somewhere tonight). don't need to worry about dealing with short term capital gains on a sale sooner since its in the Roth account.

Wont talk about the BP buy yet-it was a slug today but not horrible. It's in the taxable account so intent is to hang on for longterm cap gains and dividends. My real plan is to put U.S. growth stocks, ETFs into the taxable account, put international and income/dividend stocks and ETFs into the Roth account. Forgot that part of the plan this am when I bought BP (foreign/dividend) for taxable. Probably cuz I haven't id'd any U.S. growth stock I want that bad for the taxable account yet.

[XL-entLady]

wow! I got in on ATN at a good time this morning, if had been earlier, could have scooped 11+% gain on the day with my morning buy. as it is, probably more like a 66 gain on the day (haven't run the calculations, rough estimate at this point). Enough to cover several of my less successful trades earlier on. But its my first single-stock buy, it pays a pretty high dividend and is cheap, so will plan on hanging onto it until P/E is 22 or more (read that as a sell rule of thumb for dividend stocks somewhere tonight). don't need to worry about dealing with short term capital gains on a sale sooner since its in the Roth account.

Good job, congratulations!

Lady

[alevin]

Eeeew! Just realize there's a serious typo in my last post. Supposed to read 6%, NOT 66! Eeek. If I was that good at stockpicking, I wouldn't still be working a day job, I dont think.

[XL-entLady]

Eeeew! Just realize there's a serious typo in my last post. Supposed to read 6%, NOT 66! Eeek. If I was that good at stockpicking, I wouldn't still be working a day job, I dont think.

No problem, my friend. We read it like you thought it, not like you typed it.

Lady

[justbizness45]

Congrats!!, excellent job!!

[alevin]

You know the old axiom about letting your winners run? I'm so tempted to haul in on the reins, HARD! ATN up 5+% this morning on top of the 8% I managed yesterday. It's approaching the 200 MA on the weekly chart too-danger danger, will robinson!, but OTH, it's due for one of those big dividend distributions in the next week or so. What to do, what to do? Hang on tight and hold my hat, I guess.

[XL-entLady]

Awesome, Allie! I just finished reading a trend trading book that kept pounding at the "let winners run" theme. But then, what do I know, I'm holding DNDN!

Lady