OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT

[nocomment6]

Originally Posted by cRazy dav0

Originally Posted by DaJoka004

I sold @ 5.10. Net profit of $208.04. Not bad for 3.5 hours of "work". It's a relatively small amount, but I'm $200 richer in real profits on my first options close. Feels so good man.
Portfolio was up 3.71% ($1319.09).

Best. Day. Ever.

Hopefully the trend continues tomorrow. 

good stuff joka
i got may options but i had to avg down as i got in apple to early ... but yesterday's rebound was 

. i'll take my chances thru earnings season and see how that goes ... 

Congrats Joka.

I share your mentalitiy regarding earnings season.

 

[Betonblck]

Originally Posted by DaJoka004

I use optionsXpress. Pricier than other brokers, but I was approved for full trading (denied completely at Fidelity), so I went with it. I'm learning as I go. Starting with simple calls and spreads, and trading with minimal amounts of money.
I inherited a portfolio three years ago that had a value of around $42k. It was managed by a broker until last May when I took it over myself. Sold off everything and started new. I don't remember exactly off the top of my head, but I've drained about $13k from the account since three years ago. I've needed it for school, medical and living expenses. I haven't had any sources of income since that time. It's worth $41k right now. Since I took over last summer, I'm +38.7%, with approximately $350 in realized losses. 

Good job joka but remember, anyone can make money in an up market.

 

[dajoka004]

Originally Posted by cguy610

Originally Posted by DaJoka004

I use optionsXpress. Pricier than other brokers, but I was approved for full trading (denied completely at Fidelity), so I went with it. I'm learning as I go. Starting with simple calls and spreads, and trading with minimal amounts of money.
I inherited a portfolio three years ago that had a value of around $42k. It was managed by a broker until last May when I took it over myself. Sold off everything and started new. I don't remember exactly off the top of my head, but I've drained about $13k from the account since three years ago. I've needed it for school, medical and living expenses. I haven't had any sources of income since that time. It's worth $41k right now. Since I took over last summer, I'm +38.7%, with approximately $350 in realized losses. 

Good job joka but remember, anyone can make money in an up market.

Of course. The key is to beat what the other guy is doing.

 

[dajoka004]

I'm considering Jan 13 $750 LEAPS before earnings. It's a hefty trade, but I feel pretty confident. Remember, it doesn't have to ever reach $750 to be a profitable trade. Time value, time value, time value.

 

[nocomment6]

I wanted to recommened Canadian bank stocks, both TD and RY have had a slight correction in the past few weeks, after a leap in Q1, in addition banks in Canada are far more regulated then in the US, that's why I'd consider them safer. Although last week has been pretty volatile.

Thoughts?

 

[slicknick951]

snpk oh lord

 

[dajoka004]

Originally Posted by Slicknick951

snpk oh lord

Only idiots trade penny stocks. You might win once. Maybe twice. But over time you will lose everything. It's not investing, it's flat out gambling.

 

[dajoka004]

Is there anyone on here who only trades one or two stocks? I am seriously considering exiting all positions that aren't attached to AAPL and DXPE.

 

[secretzofwar]

Originally Posted by nocomment6

I wanted to recommened Canadian bank stocks, both TD and RY have had a slight correction in the past few weeks, after a leap in Q1, in addition banks in Canada are far more regulated then in the US, that's why I'd consider them safer. Although last week has been pretty volatile.

Thoughts?

I don't follow Canada too closely anymore, but I'm pretty sure consumer sales are falling and the economy looks soft.

 

[bjm5295]

anyone know a good guide to options trading? i just got approved for Level 2 trading by Sharebuilder, but i have very little idea what i'm doing.

 

[jonai number 4]

Originally Posted by DaJoka004

Is there anyone on here who only trades one or two stocks? I am seriously considering exiting all positions that aren't attached to AAPL and DXPE.

I only trade AAPL right now as I think it offers the best risk/reward of any stock I know of. I pretty much went all-in on the stock last year and it worked out for me very well. 

I also like to research my trades a lot (usually spend two to three months researching a stock before i pull the trigger) so I rarely hold more than three stocks since I don't have the time to track 20 stocks simultaneously over a period of many months.

A lot of people say you need to diversify, but I think diversification means a lot less now since a lot of stocks move in the same direction day-to-day. A lot of days all stocks will be in the red, and some other days everything will be in the green, so the benefits of diversification are limited. Just my opinion though.

 

[dajoka004]

Originally Posted by bjm5295

anyone know a good guide to options trading? i just got approved for Level 2 trading by Sharebuilder, but i have very little idea what i'm doing.

Investopedia for the basics.

 

[dajoka004]

Originally Posted by Jonai Number 4

Originally Posted by DaJoka004

Is there anyone on here who only trades one or two stocks? I am seriously considering exiting all positions that aren't attached to AAPL and DXPE.

I only trade AAPL right now as I think it offers the best risk/reward of any stock I know of. I pretty much went all-in on the stock last year and it worked out for me very well. 

I also like to research my trades a lot (usually spend two to three months researching a stock before i pull the trigger) so I rarely hold more than three stocks since I don't have the time to track 20 stocks simultaneously over a period of many months.

A lot of people say you need to diversify, but I think diversification means a lot less now since a lot of stocks move in the same direction day-to-day. A lot of days all stocks will be in the red, and some other days everything will be in the green, so the benefits of diversification are limited. Just my opinion though.

I agree with everything you just said 

 

[nocomment6]

It looks like BAC didn't report too well, hope it doesn't fall too much...

Facebook will apparently go public may 15 if everything gets approved.

 

[secretzofwar]

If you don't have much money, you'll never get rich if you diversify. Usually, if you get rich, it's via extreme concentration (and being very correct).

My entire 401K is in one stock.

 

[bkzkurse]

Originally Posted by secretzofwar

If you don't have much money, you'll never get rich if you diversify. Usually, if you get rich, it's via extreme concentration (and being very correct).

My entire 401K is in one stock.

I understand you're logic but is it wise to place such risk in your 401k? 
Im not sure you should be using your 401k to get rich - Isn't it basically a growing nest of retirement money that is suppose to provide you income when you retire (which obviously would be substantial during the remaining 30-40 years you contribute?

Why not just use a personal account for high risk while staying conservative (with slight risk) in your 401k?

 

[nocomment6]

Not as if it's a bad thing, but both MS and BAC reported lower then expectation profits and revenues, but regardless they rose in pre-trade...why?

 

[secretzofwar]

Originally Posted by bkzkurse

Originally Posted by secretzofwar

If you don't have much money, you'll never get rich if you diversify. Usually, if you get rich, it's via extreme concentration (and being very correct).

My entire 401K is in one stock.

I understand you're logic but is it wise to place such risk in your 401k? 
Im not sure you should be using your 401k to get rich - Isn't it basically a growing nest of retirement money that is suppose to provide you income when you retire (which obviously would be substantial during the remaining 30-40 years you contribute?

Why not just use a personal account for high risk while staying conservative (with slight risk) in your 401k?

Should probably preface this with the fact that my PA is literally 40x more assets than my 401k. 
Also, the way I see it, I should be paying a lower tax rate on my 10 baggers when I retire than I would now.

 

[johnnyredstorm]

Grabbed 100 shares of Ebay. Should be a decent little play thanks to PayPal.

 

[bruce negro]

Originally Posted by nocomment6

Not as if it's a bad thing, but both MS and BAC reported lower then expectation profits and revenues, but regardless they rose in pre-trade...why?

http://www.bloomberg.com/news/2012-...higher-profit-as-trading-results-rebound.html

 

[runningfishy]

Originally Posted by secretzofwar

If you don't have much money, you'll never get rich if you diversify. Usually, if you get rich, it's via extreme concentration (and being very correct).

My entire 401K is in one stock.

BULL CRAP.

If not, why don't you buy CALLS on a particular company.  This is the dumbest idea ever.
Also, what 401K plan do you have?  A lot of companies PROHIBIT 100% allocation into company stock because of the stock market crash in 2008-2009.

A bunch of looeny duck tales.

It's not what you make, it's what you don't lose.  Protecting principal is the core reason why a 401k was created. 

 

[runningfishy]

HEHEHE> AAPL is resuming. hahaha

done already. chee hoo...

 

[dajoka004]

Originally Posted by RunningFishy

HEHEHE> AAPL is resuming. hahaha

done already. chee hoo...

Oh no. The sky is falling. Everyone panic.

 

[dajoka004]

I'm going to play AAPL's earnings on Tuesday both long and short term unless there is a big run up tomorrow and Monday. I still have my May 620/625 bull call spread that I expect will reach its max profit before expiration. I'm thinking of going with Jan 13 700 currently at $33.80. I have capital and am willing to enter if it is below $40. Also going to play the weeklies with naked calls. Strike price yet to be determined.

 

[secretzofwar]

Originally Posted by RunningFishy

Originally Posted by secretzofwar

If you don't have much money, you'll never get rich if you diversify. Usually, if you get rich, it's via extreme concentration (and being very correct).

My entire 401K is in one stock.

BULL CRAP.

If not, why don't you buy CALLS on a particular company.  This is the dumbest idea ever.
Also, what 401K plan do you have?  A lot of companies PROHIBIT 100% allocation into company stock because of the stock market crash in 2008-2009.

A bunch of looeny duck tales.

It's not what you make, it's what you don't lose.  Protecting principal is the core reason why a 401k was created. 

If you think something is fundamentally extremely overvalued, and don't want to worry about time frame, then the common stock >>>>core. 
Diversification you can definitely protect your assets, but if you saw my other post, my 401K is a miniscule part of overall assets. I might as well put my $$ on something I think can be a 10-15 bagger than have $1500 or whatever it is sit in MSFT and ABT. 

Getting rich via investments/prudent savings and wealth protection are totally different things. 

You think Warren owns a lot other than BRKA? Eddie Lampert, Bruce Berkowitz, etc... a lot of these great investors take huge stakes in a few companies.