New money management insight, so scroll... below...
You may be in luck, my Men of New York! It seems I didn't see that glass ceiling and bumped my head right into it. I must have misread my boss' email there because I'm not getting much of a response on my counter offer. I guess my six interviews will come in handy, although I believe one of my co-workers is attempting to sabotage my future financial well-being. I heard her giving me a bad reference today. I'm quite sure she was the one behind the recent audit as well. Whatever! Justice always wins out and no one's got any sway over my financial well-being but me. I'm going to make sure I include someone else as a reference in the future. Moreover, I'm going to get reference letters before I leave.
After a weekend of doing my own homework, I found out I am still sub-par with my trading this year. Even with all my JNSB, I posted an embarrassing loss even though I have some unrealised gains that will greatly offset the losses if I take profit now. I'm going to take the next few weeks to redeem myself.
Forcing myself to review my YTD performance made me realise that I can technically be trading over $1 million on only five figures without using margin. Suppose you only have $10,000. If you aim to turn that capital 100 times in a year, you will have traded over $1 million on a minimum of 9 roundtrip trades per month. I'm going to now aim for ten roundtrip trades every month with my bike. If I manage to get a double digit ROI, that's enough to never face the glass ceiling again. It may seem far-fetched, but I'm going for the gold-digging!
I also want to highlight some areas where I could have done better this year so that I can remember this for next time. Basically, I missed out on high double digit gains this year with BGCP (+100%), CENX (+60%), DFS (+36%), IPG (+43%), and even BNHNA (+58%). I traded all these stocks the same way. I found they were being undervalued due to a low P/S and P/B value. So, when I trade this strategy next time, I'll be more patient with the exits because quite frankly, I'm tired of getting the shorter end of the stick here.
So let's talk about HERO, my latest high beta winner. We closed above the Sell In May & Go Away High and broke above the high touched in November today, which is pretty bullish to me. Will this be where prior resistance becomes support? If we break through this level, that'd be a really nice Santa Rally for me.
It looks like Harry wants to put out my fire though. The past five days have been wrought with tension and we broke below 3-month support today. I'm still keeping an eye on that $9.99 level I've been so enchanted by ever since HWD earnings came out. Let's see if we move below $10 and what it does there.
I lagged the market, but I know I can do this! I can trade. I'm really great with market bottoms, aren't I?
0% on the SBA
+0.11% on the Roth IRA
I vow never to be the market bottom of everyone's jokes from now on, but didn't I vow that before? This time, I'm making it happen!
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