I had sold some PFE at 18.33 but still hold many shares. I sold my GE prior to the earnings report, taking the 6% loss. I added to my CNB position, which swung from an unrealized 3% gain to an unrealized 11% loss. I also received dividends, which are not factored into the calculations below. If I pick stocks well, my picks should do well even without factoring in dividends.
Thus far, it appears I am doing slightly better than the overall market, but this is bittersweet, given that the S&P 500 has lost over 10% in less than two months. I had removed most of my money from the market two months ago, so I am not concerned--yet. "The market can stay irrational longer than you can stay solvent," the saying goes. Thankfully, all of my open positions are in retirement accounts, so I can wait for years until the market becomes rational again.
One benefit of keeping track of my trades is I can see which styles work for me. So far, it is clear I am better off with short term trades (100% positive record) than long term ones. I place very large bets when making short term trades, and smaller bets when establishing longer term positions. Therefore, it's as if I bet 5,000 dollars on red in roulette, win quickly, but then give some of my gains back when I overestimate my intelligence and go play poker for a few hours with a 1,000 dollar buy-in.
CNB = -11.5
EQ = -8.0
EWM = -8.54
IF = -11.8
PFE = -7.22
Average of "Open Positions": losing/negative average of 9.41%
Held more than seven days but less than one year:
GE = -6.4
PNK = -16.7%
PPS = -2.8
WYE = +2.4%
Held less than 7 days:
GE (1.0%); ICE (2.0%), MMM (0.5%), MRK (0.1%), PFE (1.3%), SCUR (15%) (Overall record in this category is a 3.31% average gain)
PFE = +0.5%
GE = +0.5% (Updated on July 14, 2008; bought at 27.15, sold at 27.30)
XLF = +4.3% (Updated on July 15, 2008)
Average of "Closed Positions" sub-categories, except for Daytrades: losing/negative 4.59%
Combined Total Averages, excluding Daytrades: losing/negative 7.0%
Compare to S&P 500: losing/negative 10.5%
[from May 30, 2008 (1385.67) to July 13, 2008 (1239.49)]
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