Thursday, April 30, 2020

SPXS trade 04/30/2020

This post is a continuation of the $50 a month stock challenge I started October 14, 2019.  Click on, "No Commission Stock Trades", on the right side of the page to read from the start.

            $381.94 self-imposed April trading limit.
            2% of $381.94 = $7.64 April profit needed.

     Friday (04/24/2020) I bought 1 SPXS @ $11.05 and today (04/30/2020) I sold 1 SPXS at a loss.

     $11.05.....bought 1 SPXS
     $10.20...…...sold 1 SPXS
     $  0.85 total loss

     $0.85 / $11.05 = 7.69% LOSS on investment

     SPXS is an inverse EFT tracking the S&P 500 index, "inverse" means when the S&P moves up SPXS moves down.

     I thought the market would move down (making SPXS move up) after having moved higher for a few days.

     In the long run I know the market will be higher (and SPXS lower), so I cut my losses before they were worse.

     With a loss in SPXS, I can not purchase SPXS  for 31 days because of the wash-rule .

     I will update my monthly and overall account over the weekend.

Disclaimer, I am not a professional
your comments are welcome and appreciated or

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