When our stock trading club met we had a lot to review. Many said that we shouldn’t have met for breakfast but should have met at the local pub and had something much stronger than coffee.

Acting as an online broker, online stock trading is the one place where you can possibly save your portfolio because you can keep a close watch on how stocks are doing.
Hillary came back to our online stock trading club for a talk.

It was quite a week, and most of us were in the red, or had endured some steep losses on our portfolio.

Some had sold and some were hanging on, but all of us were nervous. John and Sarah, who were the president and vice presi-dents of the club, were trying to put on a brave face, but the reality of the losses made our breakfasts taste pretty bad.

Hillary, who used to work for a brokerage company, gave us some solid advice. A lot of it was age dependent. The older we were the more we might want to think about selling and either taking what profits we had left or cutting our losses.

I went home and reviewed all my stocks and holdings. I was in the red on most. Some sectors I was holding I thought might do well in the long term, no matter what the economy.

I debated whether I should take a short position and even buy some puts. I thought about it all afternoon. I was not confident about the direction that the market would go. I was not positive that the bail out or rescue plan would work.

Later Saturday night I did just that. When the market opened on Monday, I found that I was able to make some money. I couldn’t of course short many financial stocks, but there were plenty to choose from otherwise.

Like this post? Subscribe to my RSS feed and get loads more!