Just for the entertainment value (and to see how all those on Twitter/Stock Twits saying they bought the dip react) I hope we close on the lows. Been pretty busy at work today so haven't gotten to trade hardly at all (I closed one position), but today has offered amazing opportunities for intraday traders.
I started pulling my money out (except with IRA) a year ago. I'm sure the politicians will declare this volatility as an indictment of, and excuse for further regulation of, this so-called "capitalist" system, and the Keynsians will come out of the woodwork claiming that this is only happening because we didn't inflate the currency enough, didn't drop interest rates low enough, and didn't inject enough stimulus into the economy. It's back to the drawing board for the Keynsians, as they further tweak their inherently non-quantifiable assumptions to force into their necessarily incompatible mathematical formulas. I guess it doesn't matte though since "in the end we're all dead."
Its hard to run my algorithms. Market is moving so fast that it misses the prices its trying to do and it turns out to be a bad trade. I left mine off for most of the day.
equities are still your best bet. it will be volatile going forward, but there are good opportunities, just not easy opportunities as there has been in the past few years. best thing to do is prob not follow it on a daily basis -- but that always applies, i suppose, and is easier said than done.
So, since I know everybody in here is a completely rational, logical investor... What stocks are you guys keeping an eye on to buy with the new price drop? I'm going to wait a while before just jumping in, but AAPL and especially ZOES interest me a lot. Side note, when this stuff happens and you do buy in, do you tend to increase current holdings and lower your average cost or do you look at entirely new opportunities?
Time to buy AAPL was today, imo. Doubt it falls below $100 again for a while. I also added to DIS as well. If I had some extra cash, I would seriously start looking into the energy sector. Oil may not have hit the bottom yet, but XOM is trading at something like $70, which seems unreal.
XOM is what I'm looking at. It may still be down this year and next, but long term I think it's a great company.
Add me to the list of those watching XOM. Wish I would've gotten it when it hit $66 today but planning to see what it does again tomorrow morning
Everything else is green and US futures are up 2.5% across indexes. The Shanghai Index is on the verge of being ignored by the US market.
I'm going to wait until we get above yesterday's RTH highs (and preferably see that level re-tested and hold as support) before getting too excited. Why do people feel like they have to call the bottom in oil/energy companies? It's not like that shit is going to shoot right back up to $100 overnight. Wait for it to build a nice base and prove it is worth your money by breaking the severe downtrend it is in. It does not make sense to put your money into something that results in greater risk of losing money as opposed to making money.
I didn't mean to make it sound like you should chunk your money at it right now, but I think that time is coming soon. Either we or the Saudis are going to crack soon, imo.
This could be one of hell of a short squeeze today - looking at my holdings, over 3/4 of them are on short sale restriction at Interactive Brokers (and it's not like I'm holding a bunch of high beta / extremely risky names).
SO ? HOW MUCH PROFIT DID YOU GAIN VS HOW MUCH IT COST TO INSURE THAT PROFIT ? OR GUESS YOU DID NOT THINK ABOUT THAT , HUH ?
So I'm about to run out of discounted trades at Vanguard, was looking at some cheaper commission online brokerages and saw OptionsHouse. Can anybody give a recommendation?
That wasn't necessarily directed at you (even though it was in response to your post), but was more of a general question. It just always amazes me to see people buying crap in downtrends only to find out they are still holding it many months later with the stock still stuck in a downtrend. I do not think it has to be soon, but I generally agree that someone (OPEC or the US) will crack over the course of the next year or so. More so than the price of oil or the price of energy stocks, I am watching yields on junk debt in the energy sector. Once those bottom (EDIT: I should really have said top) out, I will feel much better about getting into this space (my thinking is that fixed income investors are usually smarter than equity investors and thus fixed income serves as a good indicator of the direction equities are going in). Until then I think there is more downside, especially once the smaller firms start dealing with the threat of defaulting on the debt they've borrowed.
Ehhh... IB is a little rich for my pure trading money atm. Still keeping the majority of my assets on Vanguard in funds until I develop a bit more experience trading. I do have my eye on them in a couple of years though.
sounds to me ? market must be small if you play the market in arrears . then you have no insite into the future . plus ????????? if you take no chance you make no profit. are you playing craps or a 50-50 investment ? considering the profit margin is 35 cent on the dollar. you have to invest 3 times the dollars in a violent market with no security just to make profit . now that being said . you also stand to lose 3 times the money invested . your call big unit.
Never traded there, but seems somewhat cheaper than some of the other large brokerages (Schwab, TD, ect.). My first answer to this question will always be IB (for a lot of reasons with cost being one of top ones), but if you can't meet some of the account minimums there or it is just a lot more than you need, I guess the other things to consider besides cost would be reliability (ex: there were brokerages where people were having difficulty placing trades / getting trades executed yd morning), what is the trading platform like (if you are going to be actively trading), and what kind of costs are there for extra miscellaneous stuff (ex: Level II Quotes/other real time data). Given that I have never had $ at Tradeking, it is hard for to provide input on some of those 'other things to consider besides cost.'
You could also take a look at TradeStation. I have no idea if they have account minimums like those at IB, but they are similar in terms of some of their pricing (they advertise per share pricing similar to what IB offers and didn't have terribly high intraday margins on futures last I checked), offer multiple asset classes (equities/options/futures/forex/what I would imagine is a limited selection of FI trading/what I would imagine is a limited selection of mutual funds), and have a more complex/advanced trading platform that can probably handle more complex executions/custom indicators/ect (a more advanced platform of course comes with both good and bad).
I bank at Bank Of America and opened an account there through Merrill Lynch and they give me 30 free trades per month. Not great with the analytics etc but you can do that elsewhere. If you are looking for a more aggressive trading account i would probably go with Interactive Brokers. Would also check out Think or Swim by TDAmeritrade. Never used it myself but have heard good things about it.
I use Etrade and really like it. I'm sure others on here may have better options or w/e but I love the simplicity of Etrade
I don't trade options, but my buddy at work does, and he uses Dough, which is connected to TD Ameritrade. Really slick interface.
I don't know what their pricing is like, but that is the one thing I always hear from other traders - they really like the Think or Swim platform. So much so that some keep small accounts open there (that they don't really trade in) just so they can use the platform. At least that is what I assume since I do not know how else they would be able to maintain access to it. Just from looking at what other people post on Twitter and StockTwits, I would definitely say their charting package beats that of IB - I connect other charting software to TraderWorkStation (IB's trading software) and route my trades that way because IB's charting quite frankly sucks. The other thing I'll add about TD - last time I looked, I thought they had one of the best offerings of commission free ETF's. Sure they might have some restrictions on them (you have to hold them something like 20-30 days or something along those lines), but their selection blows that of Schwab out of the water. The reason I say that is that my experience has been that Schwab's commission free ETF's are illiquid in the sense that many do not trade very high volume and even more have pretty wide bid-ask spreads (neither of these usually work out in the avg retail trader/investor's best interest IMO). And I say that despite the fact that quite a few of those ETF's at Schwab would be considered clients of the firm I work for.
The charting that is available through TWS along with some of the pricing for Level II quotes/real time data are really my only two complaints with IB. And the cost of data thing is really more so an industry wide problem and an area that desperately needs innovation/disruption (similar to how some start ups are attacking commission based trading). If you want to make big $$$$$$$, figure out a way to make real-time 'depth-of-book' market data less costly/free. My idea right now would be to pitch Google or Yahoo on expanding on this notion and turning their existing financial sites into a cloud based, "lite" version of Bloomberg. They could easily cover costs through advertising (think about it - you could basically tell a company they can put an ad up for themselves on their company page) and/or a small subscription fee (but much less than the $2k or whatever it costs for a Bloomberg terminal each month), and leverage how much more social the finance industry/community has become (StockTwits, Estimize, ect.).
that is a correct answer . you are smart . know a grad chick from uf who lives in Jacksonville name is peggy c . you sound smart like her . long term stability is my invest thing. income making properties is my deal . then one can let interest work in ones favor . edit add on : no matter what you know or how you know how to play . remember ! land is king .
When my friend was big into options and was doing some of that for me/teaching me a little he used TD because of the Think or Swim platform. It seems like an awesome interface to use. They have the added bonus of now having brick and mortar banks that are open 7 days a week. I don't know what kind of fees, options they offer banking wise though.
if someone would be kind can they throw a few websites they use for this stuff to learn/track? going to play around with some small $ to try and learn over the next few years just using robinhood free trading app
That's what I use (also have Robinhood but use TradeKing for any substantial order) and I have no complaints whatsoever.