Any one that knows me knows I'm a gambler. In gambling, the thrill comes from the non stop action and instant gratification. The slowness of the stock market does not feed into that for me at all. So I sold everything lol. I didn't sell everything just for the heck of it, and in no way am I quitting the market. I just found something new: Day Trading.
Day trading consists of buying stocks and selling them after a very short period of time, normally less than a day. At the end of the day, you end up with no stock in your hands but hopefully some profits. Let's take a look at what would have happened today if I were day trading instead of holding on to future investments.
By holding on to the investments I currently had, I ended up losing money on the day. If I would have saved that money and started day trading, the results would've been drastically different. ParkerVision (PRKR) was the day trade of the day. After the initial drop from $5 to $1 per share at the start of the day, PRKR began to slowly rise. At mid day, the stock capped at 2.35. Now most people look at that and say, " It only went up a dollar and some cent." However, that is a 135% increase. One dollar and 35 cent increase PER SHARE could be huge. For instance, if I would've purchased 500 shares of PRKR at $1 a piece, it would've cost me $500. If I sell these 500 shares at $2.35 mid day, I walk away with $1175. A $675 profit!! Of course, I am pissed I did not do such a thing today and feel like I wasted a golden opportunity. Hopefully over the course of the week, there will another opportunity like this and I am able to capitalize on it.
So after just one day on the market, I've completely switched strategies. Now the key is figuring out what penny stocks will move like PRKR did today.
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