Clear Trades

Bought 200 shares of the FAS (FINANCIAL BULL 3X) at 4.9698 per share.

Buy, FAS

Bought 270 shares of the FAS (FINANCIAL BULL 3X) at 4.90 per share.

Buy, FAS

I sold my full position in the Financial Select Sector ETF (XLF) . I realized this ETF moves almost exactly like the UYG, which I have a much larger position in. I still think we are reaching a bottom in the Financials, so I thought I could benefit more from that rebound by moving this money to the FAS (FINANCIAL BULL 3X) ETF.

Realized a loss of -$392.02, for a return of -20.56%.

Sell, XLF

I bought 500 shares of Citigroup (C) this morning, purely as a speculation of course. I didn’t read the news as being quite so bad as the stock seemed to show with its reaction, but I’ll be keeping a tight stop on this as I certainly can’t say I have much hope in a company like Citigroup.

Buy, C

As I wrote in my previous post (Bought 300 Shares of BAC at 5.60), I set a stop loss order on my BAC shares at 5.32.

Unfortunately, this trade didn’t work out for me and I was stopped out around 2:55, at 5.32 per share (see the red arrow on the chart). This stop saved me from the low of the day (5.11), and also happened to be the price that BAC closed at.

Perhaps my stop was a bit too tight, though I didn’t really think it was at the time I set it.

One problem I have to figure out how to deal with is the small size of my account and the difficulty of making trades that don’t risk more than 2% of my total capital. I’m probably going to have to trade even smaller numbers of shares in order to allow for a little more downside risk. Of course, BAC has been highly volatile so it may not be the right stock for me to learn how to trade anyway. I’ll review some charts tonight and see if I find anything I’m interested in buying tomorrow. If not, I’m happy to let my UYG position ride for a little while longer. I still think that is due for a nice recovery.

Realized a loss of $98.02, for a return of -5.81%.

BAC, Losses, Sell