I'm thinking about being a DAY TRADER on stock market

[SPIKER]

I have heard trading can be stressful, you might want to invest in a cat as well, heard they increase life by 40%.   Tim B.

   I guess that is so ya can kick the cat when things go down?  lo' (J/K I like cats)
I got a 70 lb 1 yr old lab/husky mix puppy that is lots of stress adder on top of 13yr relationship with my woman.   market dropped a bit for me still up ~3grand in 4 days so doing OK still...   More than I can make working around here...   that is on a 17G investment

I still say watching NEWS can be great benefits for instance Fannei May and Freddie Mac (FNM FRE) both hit record lows due to the situation, but have re-bounded nicely.  I got the info about the crash on these on the noon news...   while lots of people will be saying AHHH they are going bankrupt!  (when was last time FEDS let a company worth billions go bankrupt?)

  I will be selling mine off sometime around Tuesday pm I think they should be up 30% by then each.

mark

[tcsmpsi]

I could mention a thing or two about the federal government and the markets.  But, I know from experience it would have little meaning.

Most everyone knows more than I do about them.  I found out all the bottom line I needed to know, after 15 yrs of litigation.

I'm glad it works well for some. 

I'm quite content in rolling up the dimes and quarters I save up, from time to time.   

[Ron Wenrich]

  (when was last time FEDS let a company worth billions go bankrupt?)

 

Bear Sterns.  The Fed propped them up, then forced their sale to JP Morgan at $2/share, later upped to $10/share.  Their home office building was worth more than the $2/share.  Buyout price was $1.1 billion.

[SPIKER]

that is why I'm selling mine off after it rebounded

I was hoping to have the deposits in there to prevent the free ride problem Friday but the bank and scottrade didn't get it worked out with transfers so I went to bank and switched $ at the bank into the already set up scottrade accessed account...

I also had to get an old stock portfolio password fixed and I'd be sending over some old insurance stock that I got when it went public. (I was a patron of the insurance company)   As suck received like 24 shares...   not much but at least I'll get access easier now...   Also taking paper stock certificates I had for long time to put those into the account...  going to start wheeling & dealing

Mark

[fencerowphil (Phil L.)]

SPIKER

I have to admit that when I heard about the Fannie and Freddie
bad press, I knew there would be a terrific opportunity there.  This
first one came even quicker than I thought it would.

You got me a wantin' to re-enter the fray!

[SPIKER]

Freddy is up nice due to all the news but frannie is only slightly building back up.  next one that maybe get is GRNB (green nat bank)  which has dropped at 10 yr low price today.   no BAD news on it just people are panicking.   I was going to get some SGLP which is a oil company, has material investments and was doing WELL until parent company leveraged it, then priced dumped bad mid july, as investors went from $30+ to $8 and parent was going chapter11, though SGLP is solid most of the sales was through/to parent co.   then today JP morgan filed suit against them for hedging & leveraging SGLP and costing investors $$$$ due to inflating stock prices & covering it up...  SO I'm waiting until I get more info regarding JP morgan suit...

I'm going to be away for few days due to getting my back operated on Wednesday !  disk is getting wacked & fixed hopefully that all goes well so selling at market value in AM to clear out stocks that are not long term..

mark M

[Luckyfarmer]

you want to lose it fast put your money in the grain market.  I been fooling with it for 50 years and think I might win soon

[DouginUtah]

I'm not passing judgement, but if you need help with your gambling problem...

www.gamblersanonymous.org/

 

[Mooseherder]

Day trading to the extreme.  : 

http://money.cnn.com/2008/07/24/markets/cftc/index.htm?postversion=2008072413

[fencerowphil (Phil L.)]

Let us know how you're doin' SPIKER.

[SPIKER]

Let us know how you're doin' SPIKER.

hi all:

I'm back from my BACK OPERATION.   was put in last Tuesday, cut open Wednesday 9 am closed up at 2 pm and recovering until today Monday.   Operation wasn't a big success...   They got rid of the leg pain & traded it for LOTS of back pain (Temporary I hope) and the legs are pain free, as in feeling absolutely nothing. they are working moving but I have no sensations of touch or impact (smashed my foot with walker good and wall already, needed to have it x-rayed as swelling and bruising!?   nothing broken though......   

Will be full time day trader until next month at earliest to try & go to work.   I will be on a walker and pain meds until feeling comes back or I croak...

When I got back some of the auto sales & buys went through in stock market and others dropped some but still going above my investment by a good amount.

Mark

[Rocky_J]

Best wishes for a speedy recovery, Spiker. And watch out if they prescribed you Flexiril, that stuff will knock you for a loop (or at least it does me). Last time I got some of that for a pinched ciatic nerve, one pill would knock me out for 8-12 hours and I'd be mentally foggy for another 12 hours after that.

I'm not keeping up on the market enough to day trade. Seems like my stocks are volatile enough, but every time I sell they spike, and every time I buy they drop. I seem to have incredibly bad timing. Bought NVDA at 23.75.

 I also bought GRMN at 42 and sold it at 47 hoping to buy it back below 44 again, but it spiked to 54 and I missed the ride. Bought it back at 48 and it promptly dropped to 44 again. I'm almost back to even on that one, although I feel like I should be up a couple thousand by now.

[Qweaver]

I've been trading on the stock market for a very long time.  I normally buy quality stocks and lean toward those that pay a dividend.  I have day traded some and have made a few bucks that way. BUT...I keep all of my trades on a spread sheet and, BY A LARGE MARGIN,  buying and holding quality stocks has been my biggest source of profit.  I sold almost all of my stocks about a year ago when signs of our present market situation began to show.  I like day trading and short term trading for quick profits because it's fun...but very few people make money that way.  You are competeing against a lot of smart traders and machines and it only takes a few bad trades or un-expected changes in the market to wipe out a long run of profits.  Have fun and good luck.  This is a good time to make...or lose money in the market. 
I hope you are making a quick recovery. 

[SPIKER]

hi all:

UP & FEELING GOOD TODAY !   I've got a good run going today just got out of the shower & feeling only a little pain.   left all the bandages off so it can breath, my skin where tape has been at for a 6 days is pretty sore and getting red due to tape closing air off.   I got a pic of my Frankenstein scar/wound, ~5" long maybe 40 staples in there holding it all tight.  looks pretty nasty (not dirty nasty just ouchy nasty)

stocks going right direction now for me they went down while in hospital... 


QWEAVER:

have missed some good opportunities while away  & had to update my EXCEL Spread sheets of my stock as some sold and some bought while I was away.   

I started my excel sheets 3rd day as I found that it would be easiest way to track Profits costs losses ect.       but that is something I didn't post for others to do was to track what they buy sell and profit/loss with costs for transactions ect...   got to make sure you pay unk Sam only what he deserves...

Mark m

[SPIKER]

Hi All:

just wanted to remind everyone or anyone thinking about getting into the stock market, it is very good time to buy GM is at it's low in forever. while it is hurting on sales the company is one of top going same with Ford also at or near it's multi decade year low. reason I say to buy is Americans are changing way we think & travel and use our cars. in no time the small car market is going to get moving better for both companies also they announced today that they are looking into a joint venture for R&D of new engines/drive line which is something VERY new!

even if you only want to make a few bucks buying at it's lowest point ever and selling a week or two later when price goes up 3~4 bucks a share is a good way to use any $ that is setting in a bank that is defiantly not making you money on interest. also leaving money in banks (especially if you have over 100G in same bank) is not wise with cheap stocks prices all around.

be aware that I mentioned 2 stocks while there are 100's of stocks in similar situations energy stocks are UP but can be good investment just the same. any company you look to buy be sure to check out as much INFO as you can. like any investing it has risks. Mine is UP in general but I have a few losers going that once I can break even I'll get rid of them...


Mark M

[Rocky_J]

I lost a thousand dollars on Garmin in one day last week.    Everything I own right now is down 25% or more. I hate to 'cut my losses' because all of them are solid companies with little or no debt and good management. I can either keep bouncing around trying to make a dollar here and a dollar there or I can just shut my eyes and go away and let my money ride for a year. I'm positive they will go up, but not this week.
 

[SPIKER]

ROCKYJ:

don't ever shut you're eyes and let it ride!   That is sure way to lose money!   yes Wednesday through friday was bad, monday wasn't good but today is much better.  as long as feds don't rase interest rates we will be in bull mkt again!   watch   short sell some pep stock it is at HIGH now.  if you can get in early tuesday!   I just shorted 100 shares at 68.00
 in a week it should be back in 50's  as it floats that way in 10+ buck high/low swing.  first week every month or last weeks of month due to way pepsico buys stock for i'ts employees...  I was once one of them and lost a lot as when they buy stock for 401K's the price spikes in 2 or so days they have all the stock bought and price drops down again...   I lost a LOT of my $ that way in there!!!

P.S.   I'm just talking and not giving anyone advice other than mentioning what I'M doing, not suggesting that anyone follow my lead or do what I asy as I'm not a paid pro, I'm tinkering only and as you know that you can lose money faster than you can make it.   I suggest if you have not been in markets b4 you get a free account in a game environment and PLAY at it using fake money in a fake (but follows the real) stock market.  there are several out there.  I used this one
" http://www.wallstreetsurvivor.com "  I'm "SPIKER" on there so feel free to request friend  and or say I sent ya.



mark.

[Rocky_J]

My account at Ameritrade isn't old enough or big enough or something, since I'm not qualified to short stocks yet. So I have to own a stock in order to sell it. Garmin has traditionally been a fairly volatile stock and will vary $2 or more in a day. In the past several months I have noticed two distinct patterns. One is when the stock rises and rises all day and then at about 3pm it turns around and drops, losing 40-50% of the day's gains. The other is when the stock drops hard during the day and then at 3pm it turns around and bumps back up, erasing some of the day's loss. Today is an up day. It opened about 37 and is now about 38.50. I have a sell order for 39 and hope to repurchase tomorrow or later in the week for 36-37 again. If I can do that a few times I might put a dent in some of my losses from the last 2 months.

[Rocky_J]

Looks like I overestimated the peak today. It topped out at 38.67 then dropped off. Went back up to 38.59 at 2:59 and then headed south for the day. I figure it will close around 38.25 or so. Still up over a dollar for the day.

What drives me nuts is seeing these big price swings and not being able to connect for a gain. Every time I take a swing, it goes the opposite direction.
 

[SPIKER]

RockyJ:

I have noticed this trend a LOT,  i also see a 10~11 am trend.   it will also have a big jump UP/DOWN? then as well.   today I had a 2 pm doc visit set up, I left at 1230, with good profits for day, got home at 330 with good loses for the day!  .  it happens!!!

I am using SCOTTRADE:   they don't limit you that way, I can buy sell sell short buy to cover.   one thing that cost me a large cash out was I didn't open a MARGIN account.   I just got the cash account well with the cash account you can not sell something and buy using the profits right away with out using "unsettled funds"  once you BUY using unsettled funds you can't re-sell that bought stock until those funds are settled...   On average that takes a week!   If you DO sell/try to sell then you hit what is called a "FREE RIDE" and you can get in trouble for that I guess...   If you want to set up a scottrade account let me know and I'll send you the link we can both get 3 free trades that way.


 I got rid of a stock (ASTE) last week after holding it for several months with a 98 buck profit, and did some more searching, it was up 2 bucks since then.  the report came out over the weekend and had great performances.   looking at a 38 buck slow down spot now. so maybe I'll buy back in at 35 and hold a few days till 36~38 is hit.   I work for the company that is owned buy them and already knew about the great performance just when I bought it was going down and figured that the report was already public about the profits, but the stock kept dropping due to market not company scares...   so once it came back up (should have bought MORE when it was at 28) and hit the mark I bought at I sold to open up $ to buy some stuff I figured was going to go faster...   it did today only went faster backwards!   dang the luck...

overall I had to take and cut my loses on that one, 350 loss...   it still dropped and this was after reading that this company was a strong BUY by some dam "anal-ist" so I bought and then the weekend they announced that they are way down in profits and cant make the 2ndQ mark and losses are expected to run it near bankruptcy and sudden accounting errors...  :GGRRRR   I hate when that happens.  one reason you can't ever stick you're head in the sand.  while 350 is a big loss it is better than total 3500 buck loss...   EVERY stock I own I search for NEWS on it daily if it making movements fast one way or other way...

  I have one stock I'm setting on waiting for more news to break about the synthetic fuel company.   while I bought at near highs once the process is put into major market/news stations pick this up it will go up at a fast pace as more speculators buy it.   It is low volume stock so the price is likely to go up pretty fast but not stay there long.   so you have to have a sell price far enough above to make a good profit but not sell ALL of the stock.   KEEP small amount 100 or so shares that are paid for by the profits from the major sell-off that way if it really flys off then you can get those 200% profits.

my best netted somewhere about 3200 profit from one sale   but that was on a rather risky investment, (like the synthetic fuel company it is high risk with possibility of high profits)   most of the times I'm happy making 100 or less bucks on one stock, sell-off.   just like the "aste" company I work for I made 98 bucks on that sale...   happy I sold it but wishing I had bought MORE when it was at 28 bucks...   then that profit would have been 498 on the 100 stocks...

Mark M