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Saturday, November 15, 2008

The Week In Review: Making Money the Boring Way ...

"The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how menial or boring, brings you closer to fulfilling your dreams." - Og Mandino

Who ever thought that making money could be so boring.

I've talked about my cash position for a while. And that this has been pretty profitable.

Now as I mentioned on the BlogTV Show Friday? I have taken a couple of nibbles. Just to pass the time. So I no longer have the 91% cash position. I am currently at a cash position as of the time of this writing of 83.387%. The rest of my money is in dividend DRIP portfolios.

Has this been the "right" thing to do during this recession?

Absolutely.

Has this been the "boring" thing to do during this recession?

Absolutely.

Most days, I look for any news regarding any one of my dividend DRIP stocks. After that? Every day, I find myself passing time. Pull up a chart of DXZ8. Console myself that cash has been doing well. Pull up a chart of the DOW Jones (DJI). Pull up a chart of Oil (CLZ8). Pull up a chart of Gold (GCZ8). Rinse. Repeat. Of course, I have witnessed some very good traders getting killed trying to trade this chop. So that too, consoles me that I am doing the right thing.

But lord, is it boring. My short term trading has decreased considerably, and Friday? Friday I slept in, and didn't even watch the open. That's so unlike me. Of course, keeping these late hours hasn't assisted being up bright and early at 7:30 am each day.

Regardless? The markets continue on, and we have to watch them. What do I see for Gold? What are my thoughts on Silver? What about the Dollar? What about the DOW? I discuss that in my vlog entry for this "Week in Review" ...

(Video Included. If you're seeing this from Email subscription? Click on the Title Link in the Email to View the Video ...)



On Monday, we will continue the Money Management Series with the vlog of "Money Management Strategies".

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Note: 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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