NinjaPigeon - My Flight to Financial Independence

Saturday, May 13, 2006

Stock sells and buys

So, last week, (WWWW) filed their Quarterly report. Wasn't as great as I was hoping for, but definately not bad. The good news though is that it spurred volume, something that has been depressed ever since they changed ticker symbols. Anyway, I sold my shares at $6.06 for a small profit. My Scottrade account closed at $2047 that day, which was a modest gain of about $120 from this last round of stocks.

So, with a little over $2k to spend, I decided to set my sights back on Walgreens (WAG). It was at a 42 week low of $40.90 on the 4th. I tried to buy it only to find out that Scottrade requires 3 days for my funds to be "settled" and available for trading. Low and behold WAG jumps up 3% by the time that happens. So for a little while I thought I'd missed a great buying opportunity.

I wait a couple days, and Thursday WAG closes at a new low for the year, somewhere around $40.69. I put in a limit order for $40.50 of 50 shares, thinking the stock isn't going much lower. Much to my chagrin it goes down with the rest of the market to $39.97.

Final tally for the week then is down about $40, including two transaction fees of $7. Certainly not the way I had hoped to end up, but not terrible either. I started the brokerage account with $1k in October last year, so I've doubled my money. I'll go ahead and ride WAG out for a little while and see how it does. If it continues to dip I might put more money in that account and increase my holdings.


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