We're on a mission to make a million by investing $25,000 in one company at a time. We're gonna sell the company every time it gains 2% from the purchase price. It'll take 187 trades to get to a million.
On the quest to make it to a million in 187 trades, we're still on trade one - Chevron (NYSE: CVX). The little detail here is that the shares were bought in Canadian dollars, and the actual share price is listed in US dollars, so daily currency conversion is required to determine where we're really at.
We're down 2.8%. Not too shabby! On the day we bought CVX, it was valued at a price of $84.83USD per share, and the currency exchange rate was 1.034. Today, it closed at $85.14 per share, which is actually $85.38 per share after the currency conversion.
On the quest to make it to a million in 187 trades, we're still on trade one - Chevron (NYSE: CVX). The little detail here is that the shares were bought in Canadian dollars, and the actual share price is listed in US dollars, so daily currency conversion is required to determine where we're really at.
We're down 2.8%. Not too shabby! On the day we bought CVX, it was valued at a price of $84.83USD per share, and the currency exchange rate was 1.034. Today, it closed at $85.14 per share, which is actually $85.38 per share after the currency conversion.
Chevron had a great day today! Up 2.95%. What scares me the most about the chart for CVX is the fact that it's reaching resistance it experienced at the end of October
http://stockcharts.com/charts/gallery.html?CVX
The entire market had a great day today. 29 of the Dow 30 posted gains. Pfizer (NYSE: PFE) being the only stock in the red, but even that, not by much (0.17%). http://stockcharts.com/scripts/php/candleglance.php?AA,AXP,BA,BAC,CAT,CSCO,CVX,DD,DIS,GE,HD,HPQ,IBM,INTC,JNJ,JPM,KFT,KO,MCD,MMM,MRK,MSFT,PFE,PG,T,TRV,UTX,VZ,WMT,XOM
All of the integrated oil companies posted huge gains, ranging from 1.75% to 3.63%. All of these tickers are also trading at prices higher than their 200- and 50-day moving averages.http://stockcharts.com/scripts/php/candleglance.php?BP,RDS.B,CVX,PTR,TOT,XOM,$DJUSOL
Well, one thing's for sure, we're either on our way up or down tomorrow. Let's hope it's up CVX and down USD, and then we'll be ready to sell, and onto our next stock pick.
OK. Well got whacked on the gold trade, as GLD surged with the overall rise in resource and equity price rises today. It was a good shot though with the tight stop, as this market will come off hard at some point and we want to be players when that happens. The crude short is also looking poor, but still has legs as the market is about to test the 2010 high at $87.15/bbl. Failure at this level would trigger some fairly heavy selling, but we'll need to see that weakness develop by end of trade tomorrow, or we'll have to cover our $85 December put.
Guess we ended up fighting the Fed and you're not supposed to do that. As the old adage goes "if you're not buying the tops and selling the bottoms, you're not dancin!" We'll hold off on buying the US dollar, as it broke to new lows today.
More after the close on Friday - we'll see what happens............................
All of the integrated oil companies posted huge gains, ranging from 1.75% to 3.63%. All of these tickers are also trading at prices higher than their 200- and 50-day moving averages.http://stockcharts.com/scripts/php/candleglance.php?BP,RDS.B,CVX,PTR,TOT,XOM,$DJUSOL
Well, one thing's for sure, we're either on our way up or down tomorrow. Let's hope it's up CVX and down USD, and then we'll be ready to sell, and onto our next stock pick.
OK. Well got whacked on the gold trade, as GLD surged with the overall rise in resource and equity price rises today. It was a good shot though with the tight stop, as this market will come off hard at some point and we want to be players when that happens. The crude short is also looking poor, but still has legs as the market is about to test the 2010 high at $87.15/bbl. Failure at this level would trigger some fairly heavy selling, but we'll need to see that weakness develop by end of trade tomorrow, or we'll have to cover our $85 December put.
Guess we ended up fighting the Fed and you're not supposed to do that. As the old adage goes "if you're not buying the tops and selling the bottoms, you're not dancin!" We'll hold off on buying the US dollar, as it broke to new lows today.
More after the close on Friday - we'll see what happens............................
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