Today marks the official beginning of my borrowed funds. I chose to borrow $8,500 @ 0% APR until November 1, 2008. However, there is an associated 3% balance fee, removing immediately $255.
As soon as the money clears the bank, I will move it into my trading portfolios. I will then track the outcomes of those portfolios and monthly remove money in order to pay the minimum monthly balance on the loan.
I will keep readers informed and up to date about my progress.
Initially, I am thinking of buying 10 Nasdaq Index (QQQQ) July Options @ 48 and increasing my investment in E-Trade (ETFC), if it falls below $4/share again.
Thursday, April 17, 2008
Borrowed Cheaply - Day 1
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