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I want to bring up, what was discussed in the other thread near the end, that we need to eliminate the penny stock rule, and instead limit the companies we are allowed to discuss by market capitalization instead of share price. Edit: Also, I think auction tag was better. Edit2: I know "Jim Cramer" is a dirty word around here... but his books are really good at teaching newbies the fundamentals of fundamental analysis. Even if you don't like his stock picks... he can write drat good books in my opinion that are worth reading. AbsentMindedWelder fucked around with this message at 04:13 on Jan 28, 2010 |
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Jan 28, 2010 04:06
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Umph posted:How does it look to you guys now? I just threw out that number, we should discuss it before making it a rule. My argument for the market cap rule instead of the "no penny stock" rule is that for example, Sirius radio is trading around 60 cents, but yet, still has a market cap of 2.5 billion. Umph posted:Would you mind specifying a couple of your favorites for the OP? 1. Stay mad for life (more of a personal finance book, but has alot of great info for newbies) 2. Mad money 3. Real money I'm in the process of reading his current book, "Getting back to even." I'll get back to you on how I like it, and where I think it should fall in the list. I have confessions of a street addict, however I haven't read it yet, and it is really more of an autobiography then a book about trading stocks. While most pros probably won't get much value out of his books, he, and his co-author, Cliff Mason, really are able to write good books about a very dry topic that is easily approachable by a newbie/layman. After reading his books, reading other books will be much easier, and might not put you to sleep quite as fast. Edit: I have to admit, if it wasn't for Jim Cramer, I would not have even set foot in Scottrade's office to open up a Roth IRA and brokerage account. I've been following him for years, and while I sometimes disagree with him on certain things, still enjoy watching him and reading his books. Part of my enjoyment with Jim Cramer, is that CNBC even lets him on their airwaves, let alone give him his own show. Edit2: WOW... I never put the  emotion and Jim Cramer together in the same sentence before, but it is the perfect match.
AbsentMindedWelder fucked around with this message at 06:54 on Jan 28, 2010 |
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Jan 28, 2010 06:26
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I would like one of the more experienced traders here to make up a post discussing trader psychology. Human emotions can often make it easy to fall into trading pitfalls of wealth destruction. (A goon from PITR who also trades would be drat good for this.)
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Jan 28, 2010 07:00
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I just want to clarify, why I believe we should limit discussion of low market cap stocks and pink sheets, etc. They may be annoying when people come in and talk about them, but this is SA, and we like to mock these kind of people. The real reason is so that some goon doesn't come in here and use SA as a way to push a few thousand shares of volume, which if done on several messages boards, is actually very possible to move a stock so the poster can reap a very large intra day profit with little risk to himself. This activity is also illegal, and technically we should probably report them to the SEC. Being that it is illegal, is actually why I think it should be a BFC wide rule, not limited to this thread. AbsentMindedWelder fucked around with this message at 07:20 on Jan 28, 2010 |
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Jan 28, 2010 07:14
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Speaking of looking at 10-K and 10-Q's... I also learned about listening to conference calls from Mr. . You can indeed get some interesting information from the "horse's mouth" so to speak, that isn't commonly repeated in the media.What you should do if you want to listen to them is keep them marked down on the calender. The companies investor relations website will list the scheduling details, and have available for download a sound file of the conference call for a period of time after the call is over. One of the ways that Mr. teaches to use conference calls, in addition to getting info about that company, is to gain insight into broader industry and sector trends that can spur some really nifty trading ideas. Fed-Ex, for example, is a good call to listen to, even if you never plan to trade FDX.I'm shamed to admit, I haven't listened to a conference call in a while, cuz I've been a lazy bastard. 
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Jan 28, 2010 07:49
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Cheesemaster200 posted:If that graphic wasn't AIG, I am unsure if it would hold the same weight as it once did. Kind of ironic given what it is trying to portray, its time period, and what actually happened. I watched most of it actually, it made for very captivating TV. The line of questioning most of the Representatives gave really shows their ignorance to how the financial system works and makes me wonder why these people have any business writing legislation. But, this is getting into something more suited for D&D, so I'll stop now.
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Jan 28, 2010 07:52
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Nipple Drainage posted:So with toyota plummeting... buy now? Profit in a few months. ? However, it might not be a bad time to start accumulating toyota shares for a long term investment holding. You certainly, however, do not want to buy your entire position at one time, especially with this case. Ford preferred really looks better then toyota right now. Don't buy Ford common.
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Jan 28, 2010 17:10
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I'm in cash at the moment until poo poo settles down and am looking for short term trades... which I'm terrible at.
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Jan 28, 2010 18:35
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JawnV6 posted:If I'm only going to read one It's hard to recommend only one, as they are all worth reading, I think. But if I chose one of the three in that list, it'd probably be "mad money". If you don't want to purchase them all, your local library should have them. Stay mad for life is really about the very very basics, and structuring your personal finances so that you can successfully make money in the market. Mad money is about trading stocks for beginners. Real money is a more involved book about trading stocks (for beginners), but isn't as easy to read as the others, so for most people, probably is not the best introductory one, even tho it's worth reading.
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Jan 29, 2010 19:55
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Limit Up, Please don't stop posting in this thread. The peasants love you! You easily win best new goon for 2010, so far.
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Feb 6, 2010 02:01
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Can't we all get along? Both forms of analysis have their place. I rely mostly on fundamental analysis, but at the same time, like to use technical analysis to try and time the buying and selling. Of course, absolute nirvana comes when both the FA and TA agree at the same time. No matter what your trading discipline, there will always be times you stop and consider the other side, if for no other reason, just as a sanity check.
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Feb 6, 2010 03:51
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Buying and selling physical metals is for numismatists, or people who want to hold the physical metal for a very long time, and probably leave it as inheritance to their heirs. If you want to trade metals, stick to futures, ETF's, and miners.
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Feb 6, 2010 04:33
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Limit Up posted:"fundamental arbitrage". Limit Up posted:I like fundamentals and can go all day on that as well
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Feb 6, 2010 04:35
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Hobologist posted:Then surely you should love the concept of a stock selling for less than its net working capital. They do exist here and there. What I would love however, is an easier way to find them!
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Feb 6, 2010 05:47
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They are out there... never looked into them myself. If you already know exactly what type of companies you want, why not just buy the stocks yourself, save on loads/fees and collect the nice dividends as cash in your account?
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Feb 7, 2010 23:10
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Duey posted:I decided a few days ago to go long on Sirius XM. I might have hopped on this bandwagon too late, but I don't think so. Pretty sure this stock is going to at least 1.00$ I may be listening to Octane right now, but I don't know that I'd want to click buy.
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Feb 10, 2010 22:42
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Pfizer announced this morning that results of their Phase 3 testing for an Alzheimer’s drug ended up not meeting the primary or secondary endpoints as compared to placebo. If you like Pfizer long term it may be a good buying point, but I don't have an opinion on their stock either way. I've never been a huge fan of Pharma stocks as their testing trials, FDA rulings, patent expiration, lawsuits, etc, all are a pain in the rear end, but can make for some interesting and profitable short term trading. Personally, if I were to go long term on big pharma, I'd prefer a basket. AbsentMindedWelder fucked around with this message at 15:37 on Mar 3, 2010 |
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Mar 3, 2010 15:34
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MrBigglesworth posted:It would just be nice if you could do a trailing sell/buy order that was either GTC as it is now for the day, or have it last for 30 days or a specified period of time. I thought you had Scottrade too, am I mistaken? Or is the issue after hours? For buying I generally use limit orders, so I can't comment how their trailing stop buy orders work.
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Mar 3, 2010 16:12
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I'm not going to complain about BRK.B's performance this past week at all. In fact, I'm quite pleased.
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Mar 4, 2010 16:41
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MrBigglesworth posted:As am I. I really didnt think it would go this far, this fast. That, and I think everyone got a hard-on when Buffet himself said he really believes the class B shares were undervalued. In short, I'm saying that I think the run up is due entirely to people wanting to own it. I'm trying to figure out now what direction it's going to go in after this week.
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Mar 4, 2010 18:20
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Janin posted:CRAMER If you had spent an extra $3 with Scottrade, you would have gotten it at the price you actually wanted it at. Sharebuilder and their Tuesday discount stuff is bullshit. Don't blame Cramer or anyone else for your bad broker choice, in the name of saving a couple bucks on commission.
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Mar 8, 2010 21:12
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Janin posted:I don't see how choosing a broker that charges less is a bad choice; It's a bad idea becuase you buying stock using an "automatic investing" plan, where you have to place an order by a certain time the previous week to have it execute at an unknown time on Tuesday at an unknown price? So in an effort to save money on commission, you end up wasting money because you are buying stock at a higher price then you should. Now if you were with another broker such as Scottrade, you could have placed a limit order for $7 for the exact price you wanted it, WHEN you wanted it, and you could have pocketed that 7% gain and sold when Cramer's recommendation shot it up. In an effort to save $3, you lost a potential gain of how much? In this case you were lucky because you didn't lose money, but you missed out on a good profit. Hell if you had bought the stock last week when you wanted to, at a price you wanted, you could have sold it on the Cramer run up, pocketed 7%, and then buy it back cheaper to hold long term after the Cramer hype dies down. The only reason to open a Share builder account and use their automatic investment plan is if you don't have the minimum $500 to open a Scottrade account. If this describes you, then you should wait till you have some cash. AbsentMindedWelder fucked around with this message at 22:44 on Mar 8, 2010 |
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Mar 8, 2010 22:42
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Janin posted:Here's my situation: originally, my parents used Schwab, and I would invest some of my part-time job income. I got tired of the $20-per-trade or whatever the commission was, and they didn't trust day-trader sites like etrade because of the internet bubble ("they'll take your money and run!"), so we compromised on a site with a real bank backing it but lower commissions. Most brokers I've seen, Scottrade, E-trade, whatever trade, don't charge a subscription fee. I believe Zecco has a $4 price for market/limit orders. P.S. Don't use market orders and don't use Automatic Execute on Tuesday "Investment" orders either.
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Mar 8, 2010 23:07
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Dr. Eldarion posted:All I want to do is plug in all the stocks I own and how much of them I have, and see a historical graph of their combined value, perhaps something similar to this, showing a total and breaking it out by each individual value in that total.
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Mar 11, 2010 03:34
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Cheesemaster200 posted:Am I the only one who thinks that the majority of this senate hearing has absolutely nothing to do with the actual SEC fraud case and its just a witch hunt/showboating opportunity? Also, uncensored profanity on CNBC always makes my day the rare cases it happens!
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Apr 28, 2010 05:11
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drat! Is gold ever going to stop? I feel like we are reaching a bubble. Edit: Seriously, I have everyday strangers I meet through doing my daily activities telling me to buy gold right now several times a week. AbsentMindedWelder fucked around with this message at 01:47 on Dec 7, 2010 |
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Dec 7, 2010 01:43
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Paper trading is great, as long as you take it as seriously as you would with real money. Edit: Picked up some FCX @ $118.08 earlier this morning. I really wanted to buy it cheaper, but it feels like there's too much momentum not to at least start a position. AbsentMindedWelder fucked around with this message at 16:46 on Dec 27, 2010 |
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Dec 27, 2010 15:32
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Cheesemaster200 posted:Bad for me because every day I see this poo poo keep skyrocketing I feel more and more compelled to buy at prices close to 52W highs. Been sitting on a pile on money for the last two months waiting for some sort of pullback to buy in at for the next couple of years and I am just getting more agitated every day I feel your pain and am really in the same position. I've been dipping my toes into some things that interest me, but only with very small positions compared to the amount of cash sitting. They are marginally working for me, but I'm not willing to keep adding to the table. I'm getting more $ then I would if the entire portfolio were in an ING direct savings account, but not by much. The biggest winner here really is Scottrade.
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Feb 2, 2011 21:40
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