I received an alert on my phone this morning that The Container Store (TCS) had a price drop below $4. I set up this alert on Yahoo! Finance, I’ll show you how to set these up in a future post very soon. I had very little cash to buy it, so I decided to sell a stock I already had in order to make the purchase.
TCS is a solid, low priced stock that I was planning to use for short-term gains. While they consistently have a price between $4 – $6 per share, I decided it would be worth buying when it dropped because historical data told me it would recover. The goal was to buy for around $4 and sell for about $5.50, giving me an increase of more than 30%.
I was pretty busy at work when the alert came in. I got on my phone a few minutes after the alert and sold 665 shares of CBWTF for $1.57 each a total sale price of $1,036.99. I had bought these shares at about $0.80 each, so I turned a nice profit. Since I have begun investing in index funds with cannabis exposure, I decided to sell off some of the individual stocks when the opportunity presented itself and this seemed like a good time.
After the sales, I transfered $225 from my side hustle checking, basically all I had. I submitted a limit order for 300 shares of TCS at a price of $4.25. The price had dropped below $4 earlier but was at $4.35 when I placed the order. I wanted to make sure I didn’t overpay for the stock. Unfortunately for me the price never dropped back and the stock closed at $4.75 so I did not make a purchase. The good news is, I had the right instinct but did not have the time to execute.
Heres a summary of today’s transactions:
Sold CBWTF for $1.57 per share, a total price of $1,036.99.
Transferred $225 in cash into E*Trade brokerage
I currently have $1,438.87 available for trading. I will be on the hunt for a good purchase!
Thanks for reading & happy trading!
If you enjoy this blog please follow and like us on Facebook!
Follow this Blog!
Subscribe to receive the latest blog posts and trades by email.