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Monday, July 21, 2008

Bank of America (BAC) Earnings, Soymeal 08, and the Stock Market Outlook

Challenge Accounts:

Investing Account Balance:
Stock / Futures Trading Balance: $901.20 (Within a trade)
Online Savings Balance: $37.30

Personal Trading Thoughts: Soymeal fell through the 399 zone of support on Friday. It looks like the Soymeal seasonal tendency is here to stay, which means we could easily see Soymeal reach the 350 region, or that area (In other words, 350, 355, 360).

Personal Investing Thoughts: Overall, I'm just watching and waiting. Summer is here, and the market is generally weaker in the summer, so I'm not a buyer. Many years, I turn my DRIP off in the summer, and receive straight cash. But not this summer. We've been in a bear market, and the market is offering bargain prices on many stocks. Therefore, my DRIP will remain on, so that I can accumulate more shares at better prices to DCA ...

Listening to the Bank of America (BAC) webcast as I type this. According to Lewis, he's going to recommend to the board that the dividend remain right where it's at. So there will be no dividend cut. In this video, which I recorded a little earlier - I discuss the recently announced Bank of America (BAC) earnings, Soymeal and Out of the Money Options, as well as some thoughts regarding stock market bottoms and bear markets ...

On another note, I HIGHLY recommend watching Larry TV ...

* * *

Investing Account Balance: $244.59
Stock / Futures Trading Balance: $901.20 (Within a trade)
Online Savings Balance: $37.30

Total Trades: 4 (In the 5th trade right now, statistics cover only 4)
Largest Inter-trade Drawdown: $86.51
Consecutive Losing Trades (Drawdown): 2
Average Drawdown: $65.50
Average Loss: $79.84
Accuracy Rate: 25%
Average Reward: $179.75
Risk : Reward Ratio: 1 : 2.1
Trading Money Gain / (Loss): Down - ($59.68)

This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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