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After over six months, we’re finally at a new power of 2 thanks to that desktop sale. Total inventory is $40 plus a can of Pringles.
The person who wants the desktop wants more computer monitors. And the same colleague who saved me with her desktop computer now says she has two extra monitors, which the person who bought the desktop wants. So the arrangement is that he’ll buy the two monitors for $20 per monitor and I’ll pay my colleague $10 a piece for her monitors, which will net us both $20. She says she’ll bring in the monitors tomorrow and he’ll pick them up in the afternoon, so if all goes well, by end of day tomorrow I could have $60. I’ll keep you posted.
Update: 2018-02-07
The monitor sale went through! $20 for the experiment and $20 for my colleague. That brings us to $60 plus a can of Pringles. $64, here we come!
Update: 2018-02-08
I went all in with five shares of SVXY @ $10.98 for a total of $55. There was no commission fee because I have free trades at Ameritrade, but I’m going to act as if an additional $5 commission fee was charged for the purposes of this experiment.
SVXY has been savaged the past few days. It was $139 just a few weeks ago and could dive lower as volatility surges. Still, even it it blows up, it will just be $60 lost and I think the worst has happened. I personally have lost a lot of money in SVXY these past few days but am still ahead compared to a year and a half ago.
Update: 2018-02-14
Put in a Good-Til-Canceled Limit Sell order of $53 which expires in June, which would net us around $260 if filled. There isn’t going to be much activity other than this for the next few months, but often, investing is less about excitement and more about consistency. I’ll post updates here. SVXY is at $12.02 as I write this.
Update: 2018-06-13
A lot has happened since this last trade. First of all, ProShares neutered SVXY so it only moves half as much in either direction. That happened less than two weeks after I opened my position. Secondly, I dumped this at 13.91 today. I thought that Ameritrade would charge $4.95 for this trade but confused that with Fidelity. Ameritrade actually charges $6.95. I was hoping to get over $64 and go to the next level, but with their $6.95 commission, was docked down to $62.62 (which isn’t bad considering we’ve paid almost $10 in fees).
I called Ameritrade to inquire about this and convinced them to give me back the $2 difference, which should post in one to two business days, according to them. If that happens I’ll post a screenshot of the current account balance; I’ll have gotten to the next power of 2.
I could have probably continued to let this trade ride, but it was like watching paint dry. I think I can get much better returns going back to flipping electronics for the time being.
Update: 2018-06-14
Ameritrade gave me my $2 back! That means we’re past $64 and up to the next power of two!
