Friday, April 17, 2009
KaChing - stock market imitator.
Well I've been dabbling in the stock market for about two months now. There is an app on facebook called KaChing which lets you buy and sell stocks with market timing prices. For the past couple days I've been in the top ten portfolios out of nearly 370,000. I'm very pleased with my progress, but it isn't hard when you pick the right stocks. I'm a value trader, which means that I pick stocks that have been battered by outside events. Once I buy those stocks cheap, I hold onto them to watch the value grow back to normal levels. I focus on large cap companies because of the rare odds that those companies will default and collapse. The two big purchases I made which have helped my portfolio the most are Citigroup (C) and Ford (F). Both companies have solid futures despite being battered by the market for their industry. Citigroup is up 200% from when I bought it and Ford is up over 100%. Within a year I think I will take some real money and start testing the waters with the market. We will see what will happen. To check out my portfolio click here.