Nov 4, 2010

Adventures in Investing

I try to protect myself against Washington, especially Ben's toy printing kit, with little forays into the stock market. Over the years,  cautious day trading has financed a gun or two and kept me independent of the Food Stamp program. Some times the results are braggable, some times the opposite. Some times you kiss your sister.

Last week my razor-sharp financial acumen said Lee Enterprises was a buy at $1.89 for a  two-day recovery to $2.10. I popped for a thousand and immediately, I mean right now, watched it sink to $1.70. Oh Hell. I just lost a Ruger 10-22 and a brick of .22s.

Monday the world decided  something nice was happening to  Lee (LEE, NYSE). It recovered. No fool, I got out at $1.91 for a  whopping total net profit of $1.96.

What color  cars do you girls want?


JoeMerchant24 said...

As a former Lee employee, I can assure you it's never a good investment.

Jim said...

I couldn't agree more. This isn't really "investing." It is an attempt to pick the pockets of the naifs who think it is.