Not going to lie to you, keeping up with a blog is tough. I’ve been slacking on you WalletSquirrel. WalletSquirrel grew from such a GREAT concept of earning money beyond the day job and I need to play catch up a bit with my most recent stocks before I continue my financial freedom journey.
I went against my better judgement bought an oil stock. I bought The Chevron Company (CVX) for 4 shares at $90.01 with the intention of hoping on the bounce back of the oil market. I liked it’s $11.33B they had in total cash and they were using this downtown as an opportunity to restructure and run a leaner company. Plus I loved the dividend yield of 4.54%. However once I bought it, it was still fluctuating all over the place and when I asked myself, has the oil industry really bottomed out? And since I know NOTHING about the oil industry, I pulled out of Chevron at $90.94 for a $11.72 profit.
I do this whole, impulse buy and sell right away, A LOT. I need to work on impulse control, but while I keep making money it’ll be hard to stop. Especially with a $0 trade fee each time with Robinhood.
Otherwise I’ve really been averaging down with a lot of stocks. This last month I’ve averaged down with Clorox (CLX), Wells Fargo (WFC), Coca-Cola Corporation (KO) and Verizon (VZ). Now what was the main reason I averaged down? Frankly I had the capital and didn’t have time to do the in depth research. I’m not sure if this was a bad plan, but I knew I liked these companies and while their stocks were down, I pounced. Like a lemur.