Neville's Digital Surrogate Brain
Today I ran a bunch of errands. While dropping some things off to a family friend, I asked him for a quick tour of his business.
Over 20 years ago he invented a cheap method of sand blasting, and turned it into a large business. He sandblasts and metalblasts large and small pieces of equipment for companies.
I plan to learn more about his business as time goes on. It is always good to have plenty of business contacts, especially for someone like me who loves starting businesses.
For the last couple of days I’ve had a limit order to buy General Electric (GE) at $35.00. It is on a downtrend right now, and it looks as if $35.00 will be approched within the next few days. After I buy (if it hits), I plan to hold GE for the next few years. I expect to buy at $35, and take a loss on the stock for a little while.
The downtrend appears it will continue for a few more days before leveling out and possibly going up. Let me know what you think!
Stocks have been down quite bit the last few days. My unexperienced, non-credible opinion is: Investors have taken their profits from the recent uptrend in the market, and are a little apprehensive to buy at the moment.
I feel the same way. The good thing is, I am starting to feel the next few weeks will be a prime purchase point. I believe this year will be an up year, but much slower than the last.
Right now I have my eye on: ge, agh, axr, brn, bpt, cmbc, crt, nobh
I have put a limit buy order on GE for my longterm portfolio. If the price is right, Ameritrade will trigger my trade automatically. I plan to buy only longterm stocks this year.
On an unrelated topic, I go back to my apartment in Austin on Wednesday or Thursday…for my last semester of college!
The Kirk Report put out a small list of possible ten-bagger stocks. I’ve started doing more long-term trading, so I took a good look at some of these:
agh, axr, brn, bpt, cmbc, crt, nobh
I would like a nice steady growth stock to hold for 5 to 10 years. I looked at all of these, and I’m waiting till the price dips on a few of them. I also have General Electric (GE) on my list of possible buys. I am just waiting for a nice dip in the stock for an entry point.
Today I accomplished:
–Setting up a meeting with a fellow investor.
–Web design work.
These slow days need to stop. I must be more productive everyday!
I think everyday I should post what I have done to improve my fiancial situation or life. My goal here is to not let the days slip by.
Today was a slow day:
-Sent out a letter to all TX Entrepreneurs inviting them to get together and talk business.
-Went to the library to research business advertising.
At this rate, I am going nowhere. This list needs to expand, and quickly.
OUCH. New York for two weeks left an $825 dent in my wallet. Not working also threw off my monthly income by a bit, but I made a $913 profit from my online business to counteract that.
Also, I am now only reporting usable, liquid assets of mine. I will still report my business balance account which holds funds I owe, but I will not consider it an asset.
These last few days have been harsh on stocks, so my longterm holdings are not doing so hot. I have also transfered all the money I owe for my business to the business balance account. I like keeping my business 100% debt free, which is not great looking for balance sheets, but I like having no liabilites for now.
General Account: $423
Spending Account: $82
Investment Account: $860
Permanent Savings: $5,300
Stock Portfolio Value: $7,810
Total Assests: $14,475
Credit Card Balance: $0
Business Balance: $4,392
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So far my financial year is not off to the right start, but I am changing that soon!
I will be posting some New Year’s Resolutions soon for 2005. I graduate from college this coming semester, so a lot of important decisions will be made in 2005. Till then, Happy New Year’s!
My next short term goal is to:
Make $11,000 by April 31st, 2005.
This means I must make an average of:
This goal is more than double my last 4 month goal, so something about my income must change. I must either work more, make more money from my online business or create a new income stream. I plan to do all three.
One of the reasons I started this blog was to track if I was meeting, exceeding or falling short of my goals. One of my short term goals was:
By December 31st, 2004, I should have made $5,000 since September.
Well it is December 31st, here is how I performed:
September Business Profit: + $468
October Business Profit: + $459
November Business Loss: – $9 (Server was down)
December Business Income: + $913
Profit from Wheaton Sale (WHT): + $567
Profit from Syntel Sale (SYNT): + $776
Loss from V.I. Tech Sale (VITX): – $316
Birthday Money: + $101
Parents: + $240
Work: + $1,930
Webpage Work: + $150
Total Income: + $5,604
Total Losses: – $325
Total Money Made: $5,279
General Account: $2,118
Business Balance: $2,416
Spending Account: $385
Investment Account: $1,035
Permanent Savings: $5,260
Stock Portfolio Value: $8,118
Credit Card Balance: $0
Total Assests: $19,332 (+ $900)