Well the current market is a like a preschool classroom, motivated kids building block towers and other kids (The media) constantly trying to knock them down. I guess we will see if rational thinking prevails on NVDA Er coming up later this month. I don't have high hopes but will continue holding for the long term. @Strathmore I can relate. I started my wife a portfolio earlier this year and she is most likely similar to yours as far as investing goes.
OK....I have been watching my auction all afternoon. I have watched 3 auctions this week and the prices have been weak. I was able to BUY the painting that we had targeted.....much lower than expected. Although it is STILL a big chunk of money. After the successful bid...I went into my account to see how NVDA was doing. It looked like it was starting to come back some......so I decided to wait till the last 20 minutes of the day and re-check. I made my sale of a......"BUNCH"....of NVDA right at about 15 minutes till close. The price I got was the high of the day. The current price with about 3 minutes to go is a bit lower. So I took some profits and converted those funds to art. A major work by a deceased artist that should at the least hold value. SO.....I got lucky on the price I got for my....."CHUNK"..... of NVDA shares...at least in regards to one day.......and....I got a good deal at the auction. A....WIN/WIN. For any that are curious....at a big auction like this where I am trying to get a significant painting and do not attend in person.....I bid by telephone. I arrange ahead of time for the auction house to call me a few lots before the one that I am interested in.....and...when my lot comes up the auction house employee takes my verbal instructions and bids for me in real time. All in all a successful day. I got screwed by the NVDA drop this week...but got lucky on the price I got today. AND...I have such a HUGE gain in NVDA.....I really cant complain. I guess to look for a silver lining..... this week has reduced my capital gains tax on the shares I just sold by a....little bit....so I will save a bit on taxes. NO REGRETS.
I see that NVDA ended the day just a bit....above....what I sold for. Must have been a last second flury right at the close. I had a good day.....considering ho dismal the markets were earlier in the day....nearly FLAT....a very small loss. I lost out to the SP500 today by.....0.18%. My GREEN stocks at the close....PLTR, HD, AMZN, and NVDA. The number of shares of NVDA that I still hold and the percentage of my entire account that they represent is still MASSIVE compared to any other position. But....it will be a more comfortable situation going forward...having taken some profits. If I had not done this auction buy today......I would NOT have sold any NVDA. I had no plan to take profits otherwise.....even though the position was uncomfortably big. My faith in the company is WAY HIGHER than any discomfort.
I have adjusted my figures that I use to calculate YTD return for my entire portfolio....so I can stay accurate going forward. This week I ended with my entire portfolio at a year to date of....+27.33%. Last week I was at a year to date of....+31.68%. A one week loss for me of....drum roll please....4.35%. I nearly did a..... 1/2 correction..... in my account in a single week. BUT...it could have been worse if the market did not recover today. ONWARD to a new week.
Well, we defied the odds as the day went on. Nice little close on the green side (SP 500). Maybe that will change the "mood" for a little bit. Of course, there were some notable haircuts this week individually, but nice to see some fight back to end the day. Better than going further down misery lane at least.
