With thanks to Hellkvist.org for the photo of the Japanese Roller Coaster! Thanks Stefan! I do not think I found a better picture illustrating my own vertiginous feelings as the market has soared and swooned in an increasingly volatile fashion day after day!
After climbing 900 points Monday, and sitting near that peak Tuesday, the roller coaster turned south once again and the market dropped more than 700 points today.
I should know better than to go "all in" in this environment. I guess that is what makes me an amateur when cooler hands are around.
Before all hell broke lose in the last hour of trading, I pulled the plug on my Coach (COH) stock that I just wrote up, selling my 280 shares at $17.6142. I purchased these shares yesterday at $20.0454, giving me a loss of $(2.43)/share or (12.1)% since purchasing these shares just hours ago. Ouch.
My Newell Rubbermaid shares were purchased yesterday at $15.20. They closed today (still in my account) at $13.87. They now have incurred a loss of $(1.33)/share or (8.75)%. This stock, if it holds at this price or moves lower tomorrow, shall also be history.
These (8)% loss limits are not very helpful in these wild swings of stock prices. But then what is?
Frankly, I do not know what to rate these stocks---Buy? Hold? Sell?
I shall keep you posted regarding the continued progress or lack thereof in my dealing with the market.
If you have any comments or questions, please feel free to leave them on the blog or email me at email@example.com.
Yours in investing,