In attempts to learn more about the stock market, my strategy for the past two weeks has been based on trial and error. I have had few successes, but my errors are the things that have taught me more about which stocks not to invest in rather than which stock to invest in. A fair percentage of the holdings that I have bought and sold have been based off of 'word of mouth' within the classroom. I have never been introduced to the stock market, so therefore I didn't know where to start, or even how to find a decent stock. Few of these investments were successful, while a large amount were unsuccessful.
Specifically, one stock that has been successful is Sunesis Pharmaceuticals. Within the past few days I have been focusing more on the different trends between categorized sectors (e.g. pharmaceuticals, gold, oil, etc.). With Sunesis Pharmaceuticals I was lucky to catch the stock as it was plummeting. I shorted the stock when it was at it's peak just before it moved down about $5.00. This in my opinion was one of my most successful stocks, as it was the only one that I anticipated the change.
Another highly news filling stock that I have been invested in is Apple. With he release of the new iPhone 7, people were not as pleased with the outcome as they had hoped to be. Apple did not 'wow' the public. With the release of the iPhone 7 the stocks dropped drastically, and I followed the trend and shorted 311 shares at $106.92. Following approximately one day, I covered the stocks at $105.87. Although this is not a very large amount of money, I see it as a great lesson basing on tracking stocks. Looking at the stock today (seen below), I can see that if I had stayed in the stock for a longer period of time, I would have made a greater profit.
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| Apple Stocks Week of Sept 6th to Sept 8th |
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