After taking a week off work and ending up sick with my brother-in-law in town, I tried not to watch stocks too much over the past week. The few times I did check in it seemed like I was bleeding out about $50 every day from my account.
Catching up on the latest news and getting ready to go back to work tomorrow morning, I’m seeing a lot of headlines from the G7 summit in France and all of Trump’s tweets about trade and progress.
Then, I flip through the Wall Street Bets subreddit and it’s mostly doom and gloom over there, with the bears outnumbering the bulls by force.
Finally, I checked into futures and as of 10 p.m. PST we’re predicting around a -0.90% drop in the US markets. We’ll see if that holds overnight.
So now I’m sitting here wondering, do I keep letting my stocks bleed out hoping that they’ll catch a bounce and turn green? Or is it time to finally sell?
If I sell do I take a big gamble and buy naked spy puts, or a put vertical spread, to try and win back my account in one fell swoop? But quite frankly, my first mistake is probably checking Reddit Wall Street Bets.
I’m also interested in following GE after all the discussion of fraud kicked off by Harry Markopolos’s claims of fraud (the same guy who outed Bernie Madoff and his ponzi scheme). You can download the report from www.gefraud.com. Can’t wait to see how that all plays out.
Current account value is $1,686, down $187 this past week (-10%).
Today’s Position
- Canopy Growth Corp. (CGC): 40 shares @ $24.89
- YETI Holdings, Inc. (YETI): 10 shares @ $26.13
- Baytex Energy Corporation (BTE): 200 shares @ $1.23
- Microsoft Corp. (MSFT): 1 share @ $133.39
FNMNY 