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Sunday, December 19, 2010

*BLOG STOCK CHALLENGE: 19December2010



My blog stock challenge began on 3November2008 when I purchased five stocks, not because they were looking promising, but I thought I would almost foolishly buy those blue chip companies admirably developing sustainable resource projects.  Click on that date for details.  With Barack Obama coming in as president, I knew defense projects would take a hit, but still bought Lockheed Martin and Boeing.  It turns out even he is afraid to consider my 10% solution for peace.

Then in March 2009 I purchased Ford, first because they were always conscientious about next generation vehicles, but, also because it was at a good low of 1.9.  There was a point, then, in June of 2009 when it looked like GM was going to avoid bankruptcy.  So I bought some of their stocks, because if they survived, Ford would drop.  Alas GM went bankrupt a few days later.  Amazingly enough, GM became GMGMQ, and initially dropped, but jumped up one day to 20% above my purchase price.  So I sold.  The stock later sunk, but I actually made a few bucks by hedging my bet on my Ford stock.  Well, the best part of all this is that Ford is now at 16.8.  

UYM - ProShares Ultra Basic Materials


Thus, when you include this sixth company, my blog stock challenge is at a ratio of 3.04, meaning that each dollar I invested is now worth $3.04.  My other great winner is Amazon.com, from $16.64 to $177.58 today, but this is not part of the challenge.

So what is the secret to my success?  Only buy when the market is low.  More importantly, you need to be extremely lucky.

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