It is now Day three and here is where the stocks sit:
1) AMD - 400 shares - $8536.00 purchased 12/5/6 at $21.34 per share. Current price $21.02
The AMD shares went from $21.34 on purchase to $21.02. This is a loss of $0.32 per share which results in a net loss of $128.
2) T - 300 shares - $10404 purchased 12/5/6 at $34.68 per share. Current price $34.88
The AT&T shares went from $34.68 on purchase to $34.88. This is a gain of $0.20 per share which results in a net gain of $60.
3) YHOO - 38 shares - $1042.34 purchased 12/5/6 at $27.43 per share Current price $26.36
The Yahoo shares went from $27.43 on purchase to $26.36. This is a loss of $1.07 per share! Which results in a net loss of $40.66.
All that bad news about AMD/Nvidia being accused of price fixing has cost me $128! I'm going to have to take the hit and cash out those shares. The price when I sold was $21.09 so that brings me back $8436. Since I spent $8536 to buy them I lost $100 on AMD stock. I'm going to keep an eye on it and see if I can buy it back later in the day for a lower price.
The value of my portfolio now stands at: $19919.34 which means I have lost $80.66.
As for the stocks I chose not to purchase:
Intel: start price on 12/5/6 $21.12, price on 12/6/6 $20.61 for a loss of $0.51 per share.
Verizon: start price on 12/5/6 $34.58 price on 12/6/6 $35.50 for a gain of $0.92 per share.
Google: start price on 12/5/6 $487.00 price on 12/6/6 $484.88 for a loss of $2.12 per share.
I now have $8453.66 cash on hand. what should I buy with it?
I'm going to bite the bullet and buy some Intel stock. I'm buying 405 shares at $20.85 at a cost of $8444.25 leaving me with cash reserves of $9.41. I hope this turns out well. I'm buying it at $0.24 above the day's opening price.
$9.41 in cash? It's time to try out a penny stock!
IQ WEBQUEST INC will be my penny stock of choice. At $0.16 per share I can buy 58 shares for $9.28 leaving me with $0.13 in cash. Time will tell if this stock does anything. With only 58 shares there is not a lot of risk.
DISCLAIMER: I am not a stock market analyst. Following the suggestions in this series of articles is done at your own risk. The buying and selling of these stocks, in regards to this series of articles, is entirely hypothetical as no money ever changes hands. Before you invest in any stocks or bonds please take some time to talk to someone who knows more about the market than I do!