Good work. I started managing a portion of my retirement last summer and it's currently divided into 1/3's. One third is managed professionally(IRA and PSP) another third sits in a longer term add on CD at 3.30% and the last third I manage myself on almost a daily basis(ETF's and one MF. Since my managed funds are in about a 70/30 split and another third is in a passive CD I changed my philosophy on my personally managed 1/3 and got very involved in late Feb and started flipping back and forth between long term(STRIPS) and back over to growth/tech on a daily basis......Let er rip taterchip was my aim and although I suffered around 20% overall loss I've made back everything including most of my gains from August 2019 to Feb 2020.....After yesterday's hunday, my portfolio is now up ~4% on the year....after tanking more than 25% in March! It's unbelievable!
Edit: checked my TSP and it's up ~2% on the year (after a big tank in March).
Yeah he's one of those "certified insurance and annuity guys" that stops by once a year to pick up the PSP and IRA contributions and spends the next hour annoying the sh!t out of me and my wife trying to pedal annuities and life insurance. I can't really blame him though since the only direction my wife gives him is "don't lose any money" and she puts all of her money back into the business, RE, and some mason jars that I have yet to find in the back yard...@Concrete Helmet if I may, when you say managed professionally, it is done by a Registered Investment Adviser who has got you in individual names or is it some mutual fund company or some RR who has you in some funds? If so, then those are getting the attention that the machine can give it. If you are in funds, then with all due respect that is not professional management. You can do that yourself for free.
Yeah he's one of those "certified insurance and annuity guys" that stops by once a year to pick up the PSP and IRA contributions and spends the next hour annoying the sh!t out of me and my wife trying to pedal annuities and life insurance. I can't really blame him though since the only direction my wife gives him is "don't lose any money" and she puts all of her money back into the business, RE, and some mason jars that I have yet to find in the back yard...
He probably wouldn't get a chubby over actively trading my mere pittance of a portfolio anyway and that's fine with me but in the meantime I don't consider myself seasoned enough to take control of 10 other peoples retirement funds even if I could legally do so...no thanks I'll just keep plugging away at my own little stash.
So just on Friday I piped in saying CHK was up 70% or so. Well this morning is up almost 100% from 24 to 44. Since Friday morning this stock has gone from 13 to now 44 and is basically bankrupt. Incredible that stocks like this and Hertz where money can be more than triples in just days and they are literaly in bankruptcy court.
Dow Jones showing big up move this morning but BA is responsible for more than half of that move. Most of the dash for trash stocks up big this morning. As @Detroitgator mentioned, lot going on this week so be careful. But I doubt the Fed will say much especially to derail this move.
The next big thing to me on the radar is how to help the states, cities and municipals which are basically all broke.
So after more than TRIPLING during the session today from 24 to 77, CHK is down 25 bux after hours on a Bloomberg report that the company is finally planning on filing for bankruptcy. So to all the momentum players out there, there is only one word Body-Bag. They f'ed the shorts by running the stock from 13 to 75 and now they are f'ing the longs. And @sharkbite wants to trade Forex. Just dabble in these dash for trash names. They will whipsaw you plenty.
Oil up, 10 yr way up, oil up, Fed speaks this week... Should be a big week.
I'm still hoping for more of a pull back this week to buy in more, but not sure we'll get it.10 yr. Treasury below .75 now. Wash rinse repeat. Between the FED buying any piece of paper that exists and a shyt economy, the chance of them ever getting rates higher is slim to none, and slim is on vacation.
I'm still hoping for more of a pull back this week to buy in more, but not sure we'll get it.
Well, looks like we're getting the pull back I wanted. Problem is, we're in a "wait and see" spot given that we closed below support... now we have to see if we regain it, or drop another 5%.