Life Without Mom

Well, I'm officially Mr Mom for today and tomorrow. Jenn left at 6:00 this morning for some time away at a "Hearts at Home" conference in Bloomington. She'll be back tomorrow around 5:00 pm. That means Mads and I are on our own. Oh boy. I woke her up at 6:45 this morning (she was NOT excited about this) and I took her to Jim Gould's for breakfast with the guys. I've been going to breakfast every Friday morning since before Jenn and I got married. It's become a tradition. We had scrambled eggs and pancakes. She WAS excited about this. She did splendid.

We got home and we played. The weather today has been beautiful. First really nice day of the year. She took a nap this morning and I officially took my first step into the world of Day Trading. Let me just say that this is not a small decision for me. I've really thought about it, talked it over with Jenn and considered the pros/cons. I have REALLY done my homework. In case you're curious, here's how I've prepared myself:

1.) I've read about a dozen books on economics, the stock market, budgeting and finances in the last 15 months
2.) I recently subscribed to the Investor's Business Daily newspaper. I also have a Smart Money magazine subscription.
3.) I subscribe to thestreet.com's daily updates (Jim Cramer's "Mad Money" on MSNBC helps too); I research companies and financial charts and how the market works everyday on the internet
4.) I listen to podcasts
5.) I listen to Bloomberg's daily on XM 129 radio along with the Dave Ramsey Show on XM 165 for budgeting tips when I'm on the road.
6.) I've signed up for an E-Trade online account and I signed up for the real time quotes analyzer

To be honest with you, I find this world of finances, FASCINATING. I can see Jenn rolling her eyes now. Although she has actually picked up some lingo lately. I'm cautiously optimistic that she's going to join me in my day trading fun.

I won't tell you what stocks or bonds I'm trading. I wouldn't want to be held responsible for that type of stuff. If you came to me privately I MIGHT and I stress MIGHT steer you to the particular cap and sector I'm currently focusing on. But nothing specific.

There's so much to learn. This stuff isn't rocket science though. If you read and do your homework, you can tell how things will develop. Take for instance the value of the dollar. It's devaluation in regards to the euro is stressing the economy (along with financials that are holding these sub-prime mortgages and bad creditors), so investors go with options that are secure and can compensate for the weakening buck. Look at gold for instance. It is sky rocketing up as the dollar declines. Things like that. Now, I can tell you about these things because I'm not interested in dropping $970 dollars an ounce for gold, even though it's PROJECTED to go up to $1500 an ounce by the time it's over. For $1000 worth of shares, I dare say I can do more than make $500. In less time for sure.

So, I guess you are curious as to how I did today. Well, I decided not to sell off at the peak share price (I would have pulled in a little over 9%), I believe next week some of the stuff I'm holding will peak way higher than today's peak. These companies have immense projected earnings, especially on the international front, which is important considering the market in the US. All told, I made 2.56% today. Not bad for a day's work. And, not bad considering our ANNUAL interest in our online savings account is 3.00%!

I'm having a blast. Now, I know there is a real ebb and flow with the market, but I have to start somewhere and I think I'm stepping out on the right foot.

Mads and I went for a walk in our neighborhood this afternoon. Found a mini fridge for free on the corner. Took the truck out when we got home and I picked it up. It's really nice and clean. Still trying to decide if I want to put it down by Fred or sell it on craigslist.com. I think I can fetch $20 bucks for it. Still deciding...