Friday, June 22, 2007

Do you have a $1 million dollar Stock Goal?

Do you have the $1 million goal?

I started stockdoubling with the goal of finding 1 stock a year to double. So after 3 years I would be at $4,000 after starting with just $500.

$500 doubled equals $1000 (Year 1)
$1000 doubled equals $2000 (Year 2)
$2000 doubled equals $4000 (Year 3)

Well I got to the Year 3 goal after just 14 months!

But do you have a goal in mind? Is yours to pay off your home or buy a home with the monies? Retire early so you can volunteer more of your time? Whatever it is. Have it written down so you can stay focused at the goal at hand rather than jump from stock to stock like I use to do.

Jumping from stock to stock is fine with some of your money but the goal with StockDoubling is to have a set amount that is invested and isn't touched. Just put in 1 stock and when the goal is hit move on to the next stock.

If you don't know where you are going you won't know if when you get there. If you don't have a goal in mind (on Paper) you won't know when you hit the target.

The goal doesn't have to be a massive #. If it just enough to pay off the bills than that is fine too. But if you don't have it written down life just has a way of changing what you want to more and more etc.. You will find ways to spend the $$$ and in 3-5 years you wish you had that money back investing.

So I suggest just starting with an amount that is small enough that you won't be forced to touch for your everyday expenses.


HIHO has moved up ahead of their earnings release next week. (UP about .30 cents from my last purchase) Again I am looking for earnings between Tuesday-Thursday of next week. If the stock goes down based on earnings I think it will rebound nicely a week thereafter due to the dividend announcement that should probably be the first week of July. I am looking for $5+ stock.

ATSX which was our 4th pick for the stockdoubling project. Is around .20 and released their Q3 last week. Boy am I glad we are out of that stock. They keep issuing more and more stock now up to 40 million! (It was 19 million back in late Jan!) If we wouldn't have gotten out of that stock we would be waiting on it for YEARS! Ended up making 1/2 cent on it but lost about 2 months of our time. (But we were WAY AHEAD of schedule anyway.) I wouldn't touch that stock with a 10 foot pole at this point. LESSON LEARNED!

Have a great weekend.
Talk again on Monday.

Steve Hoven

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