Buying back Capital One (COF), FirstFed Financial (FED) and Carmax (KMX) today. Making ~15% on COF and ~10% on the other two. Easy easy money to be made in this market.
I was just thinking about a quote from Reminiscences of a Stock Operator (probably the best book on trading you'll ever read), where (and this is from memory) Livermore says "in a bull market, be long or flat, and in a bear market, be short or flat"...certainly rings true with me, every time the market rallies, I'm just picking out the stocks I fundamentally want to be short and selling them, buying them back when they have dropped a decent amount. Certainly feels easy at the moment.
Details:
Bought back COF at $47.88 that I'd sold at $55.44 on Feb 1st, profit $2,268
Bought back FED at $35.35 that I'd sold at $38.94 on Jan 30th, profit $718
[Something doesn't look right with Carmax, I think I forgot to report my opening of the trade and forgot to put it on the spreadsheet...will investigate...profit was $2,043]
Whilst I still think these stocks can fall from here, by taking profits it leaves me able to reset shorts if/when the market rallies.
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