So judging by this posts title, I’ve clearly been downloading music/listening to the radio and now updating this blog like I should be. I completely and wholeheartedly blame it on my new job. See my previous posts for proof. I’ll readily admit that previously, I posted on the job, so it was easier to keep track of my stocks during market hours and really have a good, hard think about my finances. This new job isn’t so think-about-your-money-and write-about-it-in-an-awesome-wordpress-blogfriendly.
With the good (promotion), comes the bad (little time for the blog). But I guess I just need to rearrange how I do things. I do have enough time in the morning to blog, but I love the superfluous amount of time I give myself to get ready in the morning. If there is anything I hate more than whip cream on my frozen chocolate drinks, its rushing to get ready for something. So I give myself about 1.5 hours in the morning. That’s really enough time to snooze, sleep, wake up, shower, think about life, and take care of the dog all at a gingerly pace.
Well, today at work I was extremely busy. So I only checked the market maybe one minute before the open, where futures were taking a turn for the worse on some news from China. But when I checked again at 4:30, stocks slightly rose. I made a tiny bit of money today with all my positions except EGO (clearly) and DBB. Which means that my pullback has one day less of happening.
I never claimed to have any proof that this pullback was coming; it was all based on me just wanting this pullback to happen as I now have enough money in the account to make some really good moves in the market. But we’re about to enter 9/15, exactly a year to the date when I thought my life was over because the biggest event in American financial history was unfolding right before my eyes. Literally. It’s also halfway through the month, which means in 2 weeks I will have to commit to whatever prices are in the market for SKS, ZLC, and/or SIRI.
Well, actually there may be a 4th contender. Introducing, Charter Communications (CHRTQ). That’s right, that Q isn’t an illusion, the company entered Chapter 11 bankruptcy earlier this year. I’m planning on buying $10 of shares, at $0.03 (a total of 333 shares). I’m interested in this company, not because of the very attractive share price, but because of a recent ruling that declared that cable companies no longer have a 30% market share max to follow. This is decidedly only a victory for Comcast, which currently has about 25% of the market. They named several names of companies that they’d acquire, and CHRTQ was the least expensive one of them all. I still need to do some more research on trading bankrupt companies, but I think this would be riskiest trading decision I’ve made to date.
Do any of my readers have experience trading bankrupt companies? Tips?
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