Attempting To Move The Needle: BBBY, GT, QCOM

Since my video update on The Brandon yesterday morning, I have made several moves. Some of them have been much more aggressive than I usually allow myself to be.

Here’s the quick and dirty breakdown:

Dumping Pinterest Stock (PINS)

I finally had enough of waiting for Pinterest (PINS) to turn around. My losses yesterday in PINS reached around 12% and I sold. To recap, I bought 1 share of Pinterest for $49.70 on Oct. 25th and sold yesterday for $43.70. A $6.00 loss I easily could have avoided if I had not been so eager to jump on the stock in the midst of a decline.

With the money from PINS available, I was scanning for a good prospect when I saw something I rarely ever see.

BBBY VWAP Cross Nov. 2, 2021

Rolling The Dice on Bed Bath and Beyond (BBBY)

I noticed on my screener that Bed Bath and Beyond (BBBY) was suddenly surging upward. Now, I am not a day trader. I don’t have the money or the skill necessary to day trade. But when I see a stock suddenly surge, I usually will watch the price action just to learn.

About the time I pulled up the chart, I saw the VWAP (Volume-Weighted Average Price) cross over the resistance line.

Knowing this can be a strong indicator that a stock price is about to go on a rocket ride upward, I watched a little more closely. Within a matter of seconds the price jumped from around $17.00 per share to almost $20.00. I have seen this before, but usually I am late to the party. In most cases, when I pull up a chart the rocket as already taken off and I am watching the tail end of the run. This time, I was here for the launch.

Now, as I said, I don’t jump into day trades very often. But this time I felt I was in the right place at the right time and I rolled the dice. With the PINS money in my account I bought a whopping 2 shares of BBBY at $21.14. For the next several minutes, I watched the rocket go with my finger hovering over the sell button.

When the fuel for this trip upward was nearly out, I sold the shares at $27.00. I held BBBY for less than 14 minutes and added a quick $11.70 profit to my account.

A couple of thoughts on this move:

  1. I just as easily could have lost $11.70 (or more) jumping on a stock like this. Day trading is extremely risky and people lose money very fast trying to master that skill.
  2. I felt as good making almost $12.00 profit that quickly as I would have if I had made $1200. The rush from day trading is amazing which why it is even more risky. It’s easy to get caught up in the excitement of a fast win and chase that feeling more. Don’t do it.
  3. I am thankful that I got in and out of BBBY with some profit to make up for some recent losses.

Qualcomm (QCOM) and Good Year Tires (GT)

As I had hoped, Qualcomm is still delivering a solid return as of close today. There is still upside in QCOM but I need to start considering where I will exit and bank some profit.

In another move, I have been reading good things about Good Year Tire the past few days and having a little money in my account, I decided to purchase 2 shares this morning. I don’t necessarily see GT as a long-term hold for The Brandon. I mainly just wanted to see if I could gain any profit (no matter how small) by putting that money in GT for a day or two.

As we get towards the end of the week, I am thinking there will be some more moves in my portfolio as I take small profits and research the next batch of prospects.

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