Tuesday, April 14th. Fun Fund Day Two

Today's lesson is in "the dip".

The Fun Fund started strong out of the gate again. As Citi was very active in after hours trading it opened at $4.22 and then, over the next 45 minutes, surged up to around $4.48. But then.... plop. Well, not a "plop" as much as a long, slow slide back down.

I woke up early to watch it, excited to see what it would do. I got fooled into thinking it would stay strong, but put in a stop-loss order at $3.80 just in case. Then I went back to sleep.
But the lesson was learned. A lot of action takes place right after the opening. Anything can happen. Knowing then what I know now I probably wouldn't have sold at the peak. I'm hoping to see Citi get to $5 a share as that would bring the Fun Fund back to it's original $150 starting point. But trust me on this, Friday morning when Citi's earnings report comes out I will be wide awake and caffeinated at 6:30am when the market opens. Also, buy that time I will have an absolute number (which is $5 right now but subject to change) at which point I will sell. Trying some of that "discipline" I've been hearing so much about.

I have also started the account opening process with SogoTrade where I can get $3 trades. I can make that amount lower if I find that I'm trading a lot. They offer monthly packages which can bring the trades down to $2 or even $1.50. Wow, $3 in and out? I could work on tighter margins then.

Here's the Fun Fund for today:

C Citigroup $4.01 30.000 $120.30 (less 9.95 commission)

That means I've gone from being $58.80 in the hole to being $29.10 in the hole. Getting closer to goal #1!