Daily Journal Update 1/14/13: Dr. Phil
Well, it was an interesting day to say the least. Today my AP Psychology class took a trip to Hollywood to go see two filmings of the Dr.Phil show live. It was freezing, consisted of long waits, and uncomfortable chairs.. but in the end it was an overall great experience. I only was able to watch the market for a little in the morning before logging off around 9:00 a.m est because no electronic devices were allowed to be on set. We weren’t allowed to have any food on the set either, which is a huge problem since it is ‘bulk season’. This next point leads me to my current condition which is struggling to type this blog post. I’ve had an agonizing migraine since we left the studio, which I believe to be from the lack of food I consumed today. So bad, that I almost didn’t do this post.. but I made a goal to myself that I would write one EVERY DAY. I am however disappointed that I didn’t get as many calories as I should have.
Now for some actual market talk, the S&P 500 closed off by less than 2 points in quiet trading today. The market remains within 1% of its 52-week high. Technology, banks, and telecom were underperformers, while rails and healthcare outperformed. I don’t really watch commodities, but they moved mostly higher with precious metals, grains, crude, and natural gas all trading ahead of the broad market. Gold traded 0.40% higher and silver traded up by more than 2%. I am pulling these facts from another site found here.
Here is something interesting, the banks fell again today as Wells Fargo released disappointing earnings last Friday. Once they all close under the 9 EMA on the daily chart, or all but one, I might look to take a short position on a couple of the weaker ones. I was talking about this on twitter so any of you that follow me on there know what I am talking about.
As for bios, we were pretty choppy today, but mostly up. I took a pretty big risk by leaving my positions unwatched today, and it is something that I never do, but there are some opportunities that you can’t pass up. The show was a once in a lifetime opportunity that may never happen again, and I refuse to let life pass by me while trying to make money in the markets. Yes, there is a time for work, and a time for fun, but as my investor quite often tells me: “There is much more to offer in life in discovery, than there is in currency. Don’t let life pass you by while trying to bleed the world for pennies.” That simple quote has made a huge impact on my entire life views.
As for how I managed my positions, I had pre-set orders in before I went on set. None of which actually went off. Some of our swing positions had some nice gains today, but my lotto position in $AAPL is pretty much done for (this was NOT a sub trade). It was only a $280 bet anyways, and earnings may still save me. I’ve recently become very motivated in the market again, and have been doing a ton of extra research the past few days.. more than the TON I already do. I am excited for what the rest of the week has to bring. Quite a bit of action for a Monday, enjoy the rest of your night.