One of the beauties of having your own blog is that it belongs to you. There are no bosses, or editors telling you what to write... you just write anything you want. As some of you know by now the intent of this blog is to get down on paper what my experiences are with trying to double $10k in the stock market in less than one year. The thing I have found most challenging is being patient. My strategy (and I am determined to stay with the plan) is to make 3 round trips to accomplish this feat over a 12 month period. The first purchase was made on December 12, 2011. The stock is GEOY, since the start, the account is up about 17%. Not bad, but considering it was up 15% in the first 3 days after I purchased it, it has become a true test of my patience.
Being a stock junkie, my natural instinct is to want to veer from the plan and question whether there is a faster better way of achieving this double. But an objective reflection on the results so far would result in a double in less than 6 months.
Apparently, GEOY is in consolidation. People say this is healthy for a stock, sure... easy to say if you are not holding the stock. It feels like I am in stock market pergetory. This experience has taught me the importance of detachment, which is no doubt a good thing.
On a different subject, something happened yesterday that I can't explain and I think it means something, but I'm not quite sure what that is. Yesterday in after hours, someone bought about 20k shares of GEOY for $23.08, that is significantly higher than the closing price of $22.18. My question is, why in the world would anybody do that? I figure it was either someone who did not care what they paid for it or it was bought by someone who had no clue as to what he/she was doing.
It was the only trade in after hours for GEOY. Just something to think about.
Stockmarketdouble Portfolio Update:
Start Date: 12/12/2011
Starting balance: $10k
Current Balance : $11,739
Gain: 17%
"There is no such thing as perfection when it comes to investing. Many times, I’ve said that investing is not about perfection but rather about process and probability. The key to success is to develop a process or a plan that attempts to increase your probability of being right more often than wrong (because you will be wrong sometimes) and enhances the probability of making money more often than losing money (because you will lose money from time to time)."
Jim Yih
retire happy blog
Being a stock junkie, my natural instinct is to want to veer from the plan and question whether there is a faster better way of achieving this double. But an objective reflection on the results so far would result in a double in less than 6 months.
Apparently, GEOY is in consolidation. People say this is healthy for a stock, sure... easy to say if you are not holding the stock. It feels like I am in stock market pergetory. This experience has taught me the importance of detachment, which is no doubt a good thing.
On a different subject, something happened yesterday that I can't explain and I think it means something, but I'm not quite sure what that is. Yesterday in after hours, someone bought about 20k shares of GEOY for $23.08, that is significantly higher than the closing price of $22.18. My question is, why in the world would anybody do that? I figure it was either someone who did not care what they paid for it or it was bought by someone who had no clue as to what he/she was doing.
It was the only trade in after hours for GEOY. Just something to think about.
Stockmarketdouble Portfolio Update:
Start Date: 12/12/2011
Starting balance: $10k
Current Balance : $11,739
Gain: 17%
"There is no such thing as perfection when it comes to investing. Many times, I’ve said that investing is not about perfection but rather about process and probability. The key to success is to develop a process or a plan that attempts to increase your probability of being right more often than wrong (because you will be wrong sometimes) and enhances the probability of making money more often than losing money (because you will lose money from time to time)."
Jim Yih
retire happy blog
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