Wednesday, February 4, 2009

Sold Wally World

Sold Wally World at 47.25 with a "Limit" sale I had put in last night.

This represents a loss of about 3%. It had been down 5% at one point and I decided to cut my losses. Obviously not the start I was looking for but I'm not overly concerned.

I have to adjust my strategy a little to account for a few things:

1. I'm on a cash account, i.e. not margin, which means it takes 3 days for the funds to settle before I can buy again.

2. I need to be patient. Wal Mart is still a good buy if I don't mind sitting on it for a month. I don't really want to sit on anything for a month, but this may be what I need to do.

3. I can't trade bank stocks.

It's definitely been interesting so far and I'll post some notes on the whole process later.

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