Wow. MELI up another 20%+ today.
I’m home in Ohio this week and haven’t been doing much work or paying attention to the market that much. But before I left, I was going over the stocks on my watchlist and I noticed that I really wanted to get some more MELI. I wanted to load up - it just looked very nice.
So I logged into my account on Monday morning and bought a small position. I knew I would regret it if I didn’t. Before, with a hot stock like this, I often sold it after a great move - only to watch it move A LOT higher after trading right around where I sold it for a few days. When MELI wouldn’t drop much lower than where I sold it, I decided to get some - and boy did it pay off.

Damn. I was pretty happy when I logged in today and saw it was up 8 points and then when I logged on again after the close and managed to sell half just under $73 (I bought it under $61 on Monday).
MELI looks like a sure bet to $100 and beyond.
This month has been awesome. I made more from trading than I did from my job. I can’t believe it. It’s one of my best months in terms of dollar returns even over the almost 2 years that I traded full-time. My account is up 30%.
The crazy thing is that I am not even betting that big. I’m not using much margin - my positions have been very small and my risk per trade has been very low.
And I’m spending a lot less time trading and studying the market. I used to spend hours each day trading in and out of stocks. Now I am spending at most one hour in the evening looking over stocks.
The amount of stress and pressure I have with trading has dropped from an overwhelming amount to zero.
Mostly, though, this month has proved to me that I can be successful trading this way.
I only traded 6 stocks this month and my trading commissions totaled under $30. When I was day trading, my monthly trading commissions were over a thousand dollars. My biggest winner was MELI - second was FCSX. My only losing trade was with CRM.
I’m still holding small positions in FCSX, GEOY, and MELI.

This entry was posted on Thursday, December 27th, 2007 at 3:13 am and is filed under trading, stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.