Yesterday I began a journal to record my attempt to double $10,000 in the stock market in less than one year. The first trade was on April 18, 2013. Shorted Unxl-that one seemed too easy, unfortunately I covered after a gain of 28%. Hell, had I held on, I'd be up around 60%. Here's a link to yesterday's post if you missed it.
Today's update: The DOW was up about 180 and I'm short RDN. Fortunately, RDN didn't go up today, but it didn't really go down much either. It closed at $12.86, down 2 cents. But, I'll take it. For the sake of this journey, I pray that RDN staying flat today is a good sign. That is, if a stock doesn't go higher on a big up day in the market, chances are it's headed down.
I am going to copy and paste this journal to several sites (http://caps.fool.com/Blogs/ViewBlog.aspx?t=01006369951257971503
and also http://seekingalpha.com/account/write_post_new?controller=account&publish_type=instablog
for the sake of transparency. The more witnesses the better. I see a lot of guys out there making outrageous claims but I very rarely see the trades put out there for "everybody" to see.
Who knows, maybe there is good reason for that. I however, have no shame and if this experiment is a complete failure-at least I gave it a shot and the whole community will be my witness.
See the latest update below.
Currently short 942 shares of RDN at $13.69 (6% gain)
4/18-shorted 262 shares of UNXL at $38.10
5/17-covered at $29.44 (29% gain)
Start Date: 4/18/13
Starting Balance: $10k
Current Balance: $13,728.00
Annualized Return: 241%