Doing Poorly, Doing Well

I’m not a big stock market guy but, ever since the market (largely) bottomed out at the end of last year, I’ve been doing some trading to encourage my savings to grow a little faster. Through February, I was just about break even. Since March, I’ve been doing pretty well.

Yesterday, I moved into two new positions. I took a stake in both Borders (BGP) and Bank of America (BAC). Today was both my best and worst single day since I opened my brokerage account.  Borders gained me something like 22% today before triggering a limit order to sell. Bank of America, however, lost me close to 9%.

Guess which stock had the bulk of my money?

I sure hope Bank of America rebounds tomorrow.

2 thoughts on “Doing Poorly, Doing Well”

  1. They do have a heavy debt load and they may have to go into bankruptcy to restructure but I don’t know if they’ll go out of business or not. All I know is that their stock is up close to 35% over the last two days.

    Anyway, I was in and out in a quick trade yesterday. It’s not a position I wanted to be in long-term, given the question mark about their survival.

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