This week, the Fed decided to buy back treasury bonds. If you remember, I said they would do this a few weeks back and they did :). This will be the start of inflation and as a result gold went up almost $60 an ounce and silver almost a $1.50 an ounce. I hope you all bought some or the miner stocks.
I bought Citigroup at $1.28 a share last week. I sold it today at $3.25 a share. Was this good? Yep soon after they announced they were converting billions of preferred stock to common stock and considering a reverse split....it went down 15%. It will be back near $2 next week sometime.
I bought GE at $8 something and sold it today at $10 something. It wasn't going to go up more without the big dividend and no earnings growth....Was this good? Who knows. it might go up a bit more but then it will sit there and not do much..much like some coworkers of mine.
I'm going to buy Dow Chemical tomorrow. I think there is value there and it is profitable after the beating it has taken.
Want to try something advanced? Buy EUROS....the rate will be back to 1.50 or more by the 4th of July.
Research in Motion works for me as a less defensive stock.....
JPM works for me as a bank to hold onto...That Jamie Dimond is one smart guy.
Well time to get my laundry and watch Michigan beat Clemson.
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