Friday, July 30, 2010

July 2010: Profit Target Exceeded

You recall from my last post that I am looking for an average of 4% growth per week.  Compounding this growth, I'd be making 16.99% per month depending on the number of trading days in the month.  I started the month of July with a mere $1,267.62, so my target for the end of the month is $1,483.05 or a profit of $215.43.

At the close of the market today, the account was sitting at $2,014.08.  That's a profit of $746.36 or 58.87%.  The DJIA also did very well, gaining an astounding 733.41 points or 7.54%.  After such a great month in the markets and in my account, where do we go next?

Well, I am going to start by clearing a little bit of profits from the table.  I'll probably transfer $100.00 from my investment account to my regular checking account.  Its roughly 8% profits and should be enough for me to go to Burger King and buy me a triple Angry Onion Whopper with an extra large chocolate shake, onion rings, fries and a hot apple pie.  Who knows, my next post may come from a bed in the ICU of a local hospital as I recover from a triple bypass surgery to unclog the arteries blocked by all the fat, grease  and all around poisons in my planned meal.

Seriously, in all likelihood I may never again have a month as profitable as July.  So, I am looking to do 4% to 6% per week during August.  Since the account will have roughly $1,914.08 my target for August 31, 2010 is $2,275.03.  That's a profit of $360.95 or 18.86% in one month.  However, if you compare the $2,275.03 target with our initial $1,267.72 investment, we're talking about a profit of $1,007.31 or 79.46% in two months.  Of course, this awesome performance is the result of mucho luck in July.  I think it will be a cold day in Hell before I again see profits of 58% in one month.

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