just started my first trades!

[browneyedgoil]

woohoo- exciting. i only put $2k worth into my fidelity account & did limit orders. so far only gm has been bought- hopefully my other stuff executes. this is fun! :lostit

[Fat Man D]

woohoo- exciting. i only put $2k worth into my fidelity account & did limit orders. so far only gm has been bought- hopefully my other stuff executes. this is fun! :lostit

congrats, it takes some cajones to make the move.....good luck!!!!

[Gspot555]

get out of GM

[Lance Burkhart]

GM?!!! congrats on your first big loss too!!! did u research?

[browneyedgoil]

GM?!!! congrats on your first big loss too!!! did u research?

i just took the same ones that john's broker put him in last week. i got gm for $1.11? should i get rid of it- that's the only one that actually went through- the rest i have limit orders on.

[Mike D]

you're better off buying scratch offs lol

[browneyedgoil]

i only bought 100 shares at $1.11 so i guess i'll have to take the loss.

[The Kid]

i only bought 100 shares at $1.11 so i guess i'll have to take the loss.

anything can happen....

[Lance Burkhart]

anything can happen....

sounds something like "hey, ya never know"?. haha it's not the lotto or a blackjack game...you can make an educated decision when investing and buying GM yesterday (in light of lots of news) was not an educated decision, no matter how cheap she got it. i hope it does well but the odds are against it.

[Mike D]

bought some IMAX yesterday at $7.

I've been eyeing some names like Yahoo, Kimco, AMEX, Netflix, Amazon, E-Trade, Quidel, Office Max and Netflix for the past month. I wish I would have scooped a few of them up 2-3 weeks ago. They have been trading higher since and now I have not been wanting to pull the trigger.

[Mike D]

sounds something like "hey, ya never know"?. haha it's not the lotto or a blackjack game...you can make an educated decision when investing and buying GM yesterday (in light of lots of news) was not an educated decision, no matter how cheap she got it. i hope it does well but the odds are against it.



I agree. It is definitely one of those things that looks so cheap you are just like "fuck it" and hope some good news comes out and it bounces back big time but with all of the signs pointing towards bankruptcy and with the top execs all selling their shares it looks like the shareholders may end up being left with nothing when it's all said and done.

I'm a little surprised someone would advise you to buy GM on your first trades.

[Lance Burkhart]

down 7% on the day so far.

if i were going auto, id go into ford as a long term investment. their board meets today I think

[Gspot555]

down 7% on the day so far.

if i were going auto, id go into ford as a long term investment. their board meets today I think

ford preffered is a nice play


look at some energy stocks, and oil...

[Lance Burkhart]

investing heavily in protein powder and hair gel stocks, summer is coming fast

[browneyedgoil]

ford preffered is a nice play


look at some energy stocks, and oil...

i got:

50 PBW at $9.00
100 GM at $1.11
put a limit order in for100 C at $3.00 (limit order- waiting to see if it goes thru)
put a limit order in for 96 XLF at $11.00- waiting to see if it goes thru.

[Fat Man D]

i got:

50 PBW at $9.00
100 GM at $1.11
put a limit order in for100 C at $3.00 (limit order- waiting to see if it goes thru)
put a limit order in for 96 XLF at $11.00- waiting to see if it goes thru.

make sure you're including the comissions when thinking about profits.....you're purchasing so few shares that the stocks might have to go up significantly to cover em, depends on how long you wanna hold em obviously....

[Lance Burkhart]

make sure you're including the comissions when thinking about profits.....you're purchasing so few shares that the stocks might have to go up significantly to cover em, depends on how long you wanna hold em obviously....

Gm needs to go up like 20% for her to break even haha. At least it's only 100 bucks

[Fat Man D]

Gm needs to go up like 20% for her to break even haha. At least it's only 100 bucks

yea, give her credit for getting into the market now tho, i'm sure a lot of people told her not to. my first trade was only for a few hundred bucks too, gotta start somewhere.....

browneyedgoil - hope it works out for you and good luck

[Gspot555]

i got:

50 PBW at $9.00
100 GM at $1.11
put a limit order in for100 C at $3.00 (limit order- waiting to see if it goes thru)
put a limit order in for 96 XLF at $11.00- waiting to see if it goes thru.

too many financials...no need to buy XLF and C...diversify a little more...try and energy or tech stock...look at USO

[Lance Burkhart]

gm is rallying!!!

[Lance Burkhart]

yea, give her credit for getting into the market now tho, i'm sure a lot of people told her not to. my first trade was only for a few hundred bucks too, gotta start somewhere.....

browneyedgoil - hope it works out for you and good luck

Not sure why people would tell her not to. If she's planning to hold her positions it's a great time to get in. I just started in feb and I'm rocking it with ge, wfc and aa.

[browneyedgoil]

too many financials...no need to buy XLF and C...diversify a little more...try and energy or tech stock...look at USO

the other ones i am going to buy but i didn't want to put too much $$$ yet are:

cag
hig
kft
npsp

[admin]

woohoo- exciting. i only put $2k worth into my fidelity account & did limit orders. so far only gm has been bought- hopefully my other stuff executes. this is fun! :lostit

get rid of GM asap. I had it too but sold when it was clear that there would be no bailout.

[admin]

ford preffered is a nice play


look at some energy stocks, and oil...

Ford is the best out of the 3, I actually see hope for Ford. Chrysler wont exist in a few years, GM will need a lot of help.

[browneyedgoil]

get rid of GM asap. I had it too but sold when it was clear that there would be no bailout.

is there anything for a similiar price that i can buy???

[Lance Burkhart]

is there anything for a similiar price that i can buy???

100 double cheeseburgers

[Lance Burkhart]

I hope u sold when it hit 130 before

[browneyedgoil]

100 double cheeseburgers

hahahahahh u retard!

[Fat Man D]

hahahahahh u retard!

how long do you plan on holding a similarly priced stock? how much would you want to make?

[Kyle]

I'm still pissed i slept on citigroup and BOA.

My friends father was telling me to watch FCX before Christmas when it was at $18ish, now it's $46. Fuck my life.

[browneyedgoil]

how long do you plan on holding a similarly priced stock? how much would you want to make?

i will hold it for years. i'm just looking to start invested. i don't really want to have to make a lot of changes. looking for something that will hopefully go up & have a lot more value in 3-5 yrs.

[Fat Man D]

I'm still pissed i slept on citigroup and BOA.

My friends father was telling me to watch FCX before Christmas when it was at $18ish, now it's $46. Fuck my life.

just wait for the next crash.....dow can't rally like this forever. FWIW, Krugman sees Q3 of this year as being horrible, might be the right time to get in.....

[Fat Man D]

i will hold it for years. i'm just looking to start invested. i don't really want to have to make a lot of changes. looking for something that will hopefully go up & have a lot more value in 3-5 yrs.

I dunno if GM is gonna be in the same form it is now in 3-5 years, if it's around at all. I loathe the company/management but A I G, might be worth looking at. With all the money the govt has poured into it, they will NOT let it fail, there'd be riots in the streets. It's at 1.62 as of this posting.....might dip more tho. good luck dood

[Kyle]

just wait for the next crash.....dow can't rally like this forever. FWIW, Krugman sees Q3 of this year as being horrible, might be the right time to get in.....

This past year i did pretty shitty on loading up on GM right before the bailout was supposed to be announced and i still am sitting on a lot of AIG hoping that gets to over $2 something this year. All in all i pretty much broke even with everything i bought so it's not too bad.

Am looking around now but not really sure what to get into next.

[Joey Lites]

I own GM's preferred stock (GPM) and am holding it they offered me a shitload of the common stock for it and I don't know why... sent me a huge ass letter/packet in the mail about it.

[The Kid]

sounds something like "hey, ya never know"?. haha it's not the lotto or a blackjack game...you can make an educated decision when investing and buying GM yesterday (in light of lots of news) was not an educated decision, no matter how cheap she got it. i hope it does well but the odds are against it.

I know what it is, I am just saying. The media lives off of negativity and if GM turns around or even stays out of trouble she might do alright with the stock in the long run. They have some great offers and still build quality cars. Would I have bought it, NO...

[Legsdiamonds26]

All GM commonstock holders are about to get wiped out dump that shit

[Legsdiamonds26]

I know what it is, I am just saying. The media lives off of negativity and if GM turns around or even stays out of trouble she might do alright with the stock in the long run. They have some great offers and still build quality cars. Would I have bought it, NO...

It doesn't really matter if GM does well or not they have to refinance their debt and they're looking to do this thru equitiy financing meaning they're gonna have a completly new issuance of stock and the old stock is gonna trade down to 0 once their is a new issuance of commont stock by GM

[Joey Lites]

It doesn't really matter if GM does well or not they have to refinance their debt and they're looking to do this thru equitiy financing meaning they're gonna have a completly new issuance of stock and the old stock is gonna trade down to 0 once their is a new issuance of commont stock by GM


If that's the case why would they offer the preferred stockholders common stock?

[Bekim...]

get out


GM notifies 1,100 dealers they're out
General Motors notified 1,100 of its 6,000 dealerships today that the automaker is terminating their contracts, the first step in an even deeper 40 percent cut in its retail network. A GM spokeswoman said the dealers are being told their contracts will not be renewed in October 2010, CNNMoney reports. full story

[chromeheart]

your buyin stock when ur out of a job??

[Mike D]

...look at USO


I was looking at this not too long ago with a coworker. can you explain it a little to me. does it move directly with the price of oil?

[Legsdiamonds26]

If that's the case why would they offer the preferred stockholders common stock?

Maybe its the new issuance of common stock there planning on introducing......If you paid attention to GM you'd see that a bunch of high level executives liquidated all their common stock holdings.....Weird

[browneyedgoil]

your buyin stock when ur out of a job??

just sold gm. i'm actually making more $ now than when i was working bc i'm getting severance plus unemployment. figured i'd put the unemployment to good use by buying some stock.

[johnbnyc]

you're better off buying scratch offs lol

haha very true with GM

[Gspot555]

I was looking at this not too long ago with a coworker. can you explain it a little to me. does it move directly with the price of oil?

yes, pretty much its oil...expect it to go up for the rest of the year, then wait for a pullback late in the year and onward

[Lance Burkhart]

good day today:heythere

[Mike D]

yes, pretty much its oil...expect it to go up for the rest of the year, then wait for a pullback late in the year and onward



I'm confused though...we did a quick analysis tracking USO back from Jan. 1 of this year until now and compared it to the price of oil...Crude Oil is up about 30% I believe yet USO is actually slightly down so I can not understand the correlation between the two. It's not like you can just say if the price of oil goes up this ETF will go up.

Price of oil today = $59.15
Price of oil 12/31/08 = $44.60

USO today = $32.61
USO 12/31/08 = $33.1

:hmmm

[Choons]

I wish I got into this forum a bit earlier.
I liked the cheap stem cell stocks...CTIC was a winner for me. .35 buy in and it's over 1.20 right now.
I rode a big wave with GNTA...bulletin board stock.
I like the stem cell plays going forward.
AIG might be a nice play also.

[Joey Lites]

just sold gm. i'm actually making more $ now than when i was working bc i'm getting severance plus unemployment. figured i'd put the unemployment to good use by buying some stock.

You shoulda kept it.. 1.11 was a nice number :shuffle hit 2.24 today

[browneyedgoil]

You shoulda kept it.. 1.11 was a nice number :shuffle hit 2.24 today

u know what's weird. i checked the other day & it was still listed so i called & they said the "sell" never went thru. i must've done it wrong online. so i still have it! :lostit

[Fat Man D]

u know what's weird. i checked the other day & it was still listed so i called & they said the "sell" never went thru. i must've done it wrong online. so i still have it! :lostit

what broker are you using? im glad that worked out for you this time but that's really not good that the sale didn't go thru....

[Fat Man D]

just sold gm. i'm actually making more $ now than when i was working bc i'm getting severance plus unemployment. figured i'd put the unemployment to good use by buying some stock.

my contract was not renewed so im day trading from home as well. i make almost the same and work 1/2 the time, i love it!

[browneyedgoil]

what broker are you using? im glad that worked out for you this time but that's really not good that the sale didn't go thru....

i think i put it in at a specific price to sell so that's why. i'm using fidelity.

[metfan85]

Ford is a joke too, it's just looking to survive as long as possible without going bankrupt. Goldman Sachs said Ford looked OK, but you gotta ask what interests did GS have in making that statement, especially, when the entire administration is form GS. You also have to look at Ford's #'s (http://lewrockwell.com/englund/englund53.html)


Ford Motor Company, indeed, possesses cash and marketable securities totaling $15.7 billion in its automotive operations and $24.3 billion in its financial services unit. Yet, this does not overcome the facts that Ford has a deficit working capital position of $15.1 billion and a deficit equity position of $17.3 billion. Plain and simple, Ford is broke and will not survive, intact, America’s current economic depression. For those who own Ford Motor Company stock, be assured it will head to $0 when Ford goes into bankruptcy; and most likely becomes another state-owned automaker.

Why in the world did Goldman Sachs recommend buying Ford stock? The answer came nearly three weeks after Goldman’s recommendation. On May 12, 2009, Ford announced it had raised approximately $1.4 billion in a stock offering consisting of 300 million common shares. Shortly before Goldman made its buy recommendation, Ford’s common stock was selling for $3.80 per share. Immediately after Goldman’s recommendation, Ford’s stock zoomed up to $4.33 per share. By May 12th, Ford was able to price its 300 million share offering at $4.75 per share. I’d say Mr. Archambault’s recommendation netted Ford an additional $285 million in proceeds, from this stock offering, due to his recommendation (this is the difference between offering 300 million shares at $4.75 vs. $3.80). One could also argue this stock offering may not have transpired at all had a heavyweight, such as Goldman Sachs, not put out a prior buy recommendation on Ford. Is there, nevertheless, a more sinister motive behind this recommendation?

this is heartbreaking

[metfan85]

Browneyedgoil, if you're just starting trading, I really recommend listening to every word Jim Rogers speaks, no one is wiser than him when it comes to the markets. His hedgefund Quantum Fund increased 4900% in 10 years.

he's highly recommending commodities, China and looking into Sri Lanka, stay away form anything US, and EU and India especially.

[Fat Man D]

i think i put it in at a specific price to sell so that's why. i'm using fidelity.

ahhh, be careful with the open sell orders, definitely take the time to read what you're setting up before you execute it, ive been burnt for trying to rush em, oh well.


some of the casinos are looking like good buys today, let's see how it all play out. same for oil, usually international conflict/test firing increases oil.....Gold still looks like it wants to close above 960 this week (fingers crossed)

[sadelb]

Just watch Mad Money and buy everything Jim Cramer talks about in after hours trading. Sell it the next day lol. In all honesty if you do research on some of the stocks Cramer talks about you can really do well. Just dont take everything he says at face value.

[Gspot555]

Just watch Mad Money and buy everything Jim Cramer talks about in after hours trading. Sell it the next day lol. In all honesty if you do research on some of the stocks Cramer talks about you can really do well. Just dont take everything he says at face value.

this is some of the worst advice i have ever heard...please no one listen to this

[tribaljunkee]

this is some of the worst advice i have ever heard...please no one listen to this

jksahfa;sldkfjas;ldfkja

you kill me :lol

[The Maestro]

Blue Horse Shoe Loves Anacot Steel.

[sadelb]

this is some of the worst advice i have ever heard...please no one listen to this

I've never lost money listening to Cramer. How is it bad advice when research is involved? Nothing wrong with getting ideas from him. Plus I was joking about the after hours thing. Go look at his track record on thestreet.com. Yeah hes made some bad calls but he has made A LOT of great ones. Let me guess, after you saw the Jon Stewart thing all of a sudden Cramer was a joke to you. Give me a break, people have done VERY well taking this guys advice. There's a reason why hes still on the air. People are making money listening to him.

[Lance Burkhart]

I've never lost money listening to Cramer. How is it bad advice when research is involved? Nothing wrong with getting ideas from him. Plus I was joking about the after hours thing. Go look at his track record on thestreet.com. Yeah hes made some bad calls but he has made A LOT of great ones. Let me guess, after you saw the Jon Stewart thing all of a sudden Cramer was a joke to you. Give me a break, people have done VERY well taking this guys advice. There's a reason why hes still on the air.

based on many of his comments on here, i assume gspot does not base his opinions on talk show appearances. not for nothing, i am sure kramer has done well for people but for someone who doesnt understand the market and beginning to investt, it would be an awful strategy to just "buy what cramer says" . That is no way to learn the market, or make money...or understand why you're winning or losing. I think that's why gspot was advising against it.

[Gspot555]

I've never lost money listening to Cramer. How is it bad advice when research is involved? Nothing wrong with getting ideas from him. Plus I was joking about the after hours thing. Go look at his track record on thestreet.com. Yeah hes made some bad calls but he has made A LOT of great ones. Let me guess, after you saw the Jon Stewart thing all of a sudden Cramer was a joke to you. Give me a break, people have done VERY well taking this guys advice. There's a reason why hes still on the air. People are making money listening to him.



First of all, after hours trading is one of the worst ways to get killed in the market, especially for a beginner. No one would ever tell someone just starting out to trade afterhours markets. People that do trade in the afterhours are people "in the know" and know what they are doing.

I do like Cramer, but I enjoy his books more than his show. It is good for entertainment and getting some research, but I would never trade off his advice because it is already way behind the market. In fact, CNBC is already behind the market. If you are taking there advice you are probably on the wrong side of momentum. And I also believe Cramer has a terrible track record in making trades the last few years.

You are not a professional, so you shouldnt be telling someone what to do with there money, especially when you dont know what you are talking about.

the best advice I can give to the person would be to pick up a couple of books and read and learn before you put your money out there and start trading. if you really want to buy some stuff, buy some etf or mutual funds that have no loads and no fees.

[sadelb]

based on many of his comments on here, i assume gspot does not base his opinions on talk show appearances. not for nothing, i am sure kramer has done well for people but for someone who doesnt understand the market and beginning to investt, it would be an awful strategy to just "buy what cramer says" . That is no way to learn the market, or make money...or understand why you're winning or losing. I think that's why gspot was advising against it.

I did say in both of my posts to not take it at face value and do lots of research after listening to his picks. Nobody should just go and buy something that they hear on television or anywhere else. Everybody must do their own research. With that said, I think a beginner could learn a lot from watching Cramer's show. Not necessarily to buy his stocks, but just listening to what he says. His books are great also.

[Kyle]

What stocks are you guys looking at now?

I got killed on GM a few months back but it's at $0.56 and i'm thinking it can't go any lower.

I'm still really pissed at myself for not making a move on FCX when my best friends father was raving about it in Dec at a Christmas party when it was around $18-22, it's at $54.86 now...FML.

[sadelb]

What stocks are you guys looking at now?

I got killed on GM a few months back but it's at $0.56 and i'm thinking it can't go any lower.

I'm still really pissed at myself for not making a move on FCX when my best friends father was raving about it in Dec at a Christmas party when it was around $18-22, it's at $54.86 now...FML.

GM can definitely go lower. I would be very careful with that right now. I will probably end up buying that eventually though. Not for at least another 2 or 3 months until the bankruptcy hearings are over.