SoulStocks: AIGGGGGH!
Another up and down week for the portSoulio but I ended up 20 bucks so it's fine. The major mistake I made was cashing out of my AIG stocks. I was up 20 bucks and wasn't feeling very confident in the stock so I sold it. Then the stock skyrocketed and I basically cost myself 110 dollars. Well, actually 90 bucks; the money from the AIG sale went into Papa John's stock and that went up 20 bucks.
Right now my biggest losers are my Wendy's $5 Sep option (I knew I was in trouble when Jim Cramer suggested buying the stock days after I had purchased it) and my Hasbo $25 Jan option. The Wendy's one is a bigger concern because the deadline is coming up and the stock hasn't really been doing that much.
Another mild mistake was selling Caterpillar and putting the money into more US Steel. Not a huge difference; CAT went up three percent while US Steel (symbol: X) went up 2.
On the bright side, I finally listened to the right people for once. Whenever I've bought a stock on a suggestion or from my research, the stock has collapsed. But Omniture Inc. went up this week and, at last, I made some money on a company that i didn't really have first hand knowledge of.
Overall, I'm almost even for my lifetime of investing. Finally, I've just about wiped the losses of my initial investment venture off the books. The stock market is still like gambling at this point and there really isn't a company that I'm sold on sticking with for the long term. Citibank (C) has made me some money but that place could collapse at any second, it seems. True, the government probably won't let it go under but the stock could take a shellacking.
I don't think I'm going to put any more money in the market. I'll just play with what I have in there (and I might take some of it out before the next "adjustment" rocks the market).