posted
GM left me in the dust. How many predict the bears take back over after today???
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
I think if we get a 75 point rate cut, it's what's expected, and the market will then start sliding back down. If we get a 100point cut, it will be a hort lived boost. If it's under 75 points, look out below.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
got some on my fake account GM GENERAL MOTORS CORP 120 $18.65 $2,278.80
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by BooDog: got some on my fake account GM GENERAL MOTORS CORP 120 $18.65 $2,278.80
out at 19.03 lol stupid thing has like a $30 com.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Had a hold still on my account...... I hate that 3 day wait thing. I was leaning toward OTT even though I didn't like the small volume. Wouldn't you now it went up. At this rate if I only get one trade a week and if I was on the lucky side of things and made all perfect trades which I know will never happen it would take two years to acheive the chart of 3% way back on this thread.
Posts: 492 | From: new york | Registered: Jul 2005
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posted
Early market I wasn't sure of holding anything. Coulda woulda. I cashed out 100% back to cash at the close on my main account with the indices - nice gains there but I'm good at leaving plenty on the table too. Could see a couple nice days. As far as scottie I am still on cash there too so understand your 3 day wait... trick is to leave enough cash available to cover or get a margin account so the funds clear on margin.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Boo I can't keep any cash in cause I'm putting it all in one stock at a time. I was in a Margin account last year. I wasn't to comforrtable with that. Just gonna have to suffer on the one or two trades a week deal for quite awhile.
Posts: 492 | From: new york | Registered: Jul 2005
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quote:Originally posted by jgrecoconstr: Boo I can't keep any cash in cause I'm putting it all in one stock at a time. I was in a Margin account last year. I wasn't to comforrtable with that. Just gonna have to suffer on the one or two trades a week deal for quite awhile.
boooyaaaa. good luck with that. I won't do margin either until I know what the hell I'm doing. Some good people here to learn from. Diversity has saved my ass though .... plenty.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Welcome back Wea$el! You can have your thread back now!!
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
I don't mind you asking. For the fun of it I am trying to follow the 3% chart that was posted earlier on here. So the odd lot comes from the available funds to put as much of the lump sum into that one stock to make the 3%. This is my third attempt. So far I am in line with the gains.
Posts: 492 | From: new york | Registered: Jul 2005
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posted
jg, did you say you have $3000? If so, my advice would be to go ahead and set up a margin account if you are disciplined enough to not actually trade on margin. Confirm with your broker to be sure, but having a margin account means you don't have to worry about the 3 day settement, and you don't get charged any margin interest unless you buy more than your $3,000 worth.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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News for 'SCA' - (=DJ Merrill Lynch Sues SCA Unit Over $3B In Credit Default Swaps) By Chad Bray
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A Merrill Lynch & Co. (MER) unit sued a unit of bond insurer Security Capital Assurance (SCA) on Wednesday, alleging the company is attempting to avoid its financial obligations of up to $3.1 billion under seven credit default swaps.
The lawsuit, filed in U.S. District Court in Manhattan, alleges that SCA unit XL Capital Assurance Inc. improperly issued notices purporting to terminate the seven credit default swaps "without any basis and under a pretext based entirely on rank speculation" after entering into the binding contracts.
"Apparently in light of the current dramatic downturn and deterioration in the credit markets, defendants are having 'sellers' remorse' and are seeking to avoid their potential obligations of up to approximately $3.1 billion under the credit default swaps at issue," the lawsuit said.
The lawsuit comes less than a week after SCA said it will write no new business while trying to raise capital as it faces potential large losses in financial guarantees written on mortgage securities backed by subprime loans. The company also has said it will try to terminate some of its contracts in order to reduce its potential exposure.
The company recently reported a fourth-quarter net loss of $1.197 billion, or $18.67 a share, compared with net income of $35.8 million, or 56 cents a share, in the year-ago quarter.
The loss was driven in part by a market value write-down of $518.8 million in its credit derivatives portfolio and a loss reserve of $651.5 million for its collateralized debt obligation business.
"We filed suit to make clear that XL Capital Assurance Inc. is required to meet its contractual obligations for credit default swaps it agreed to with Merrill Lynch," said Mark Herr, a Merrill Lynch spokesman, in a statement. "Merrill Lynch is confident that the credit default swaps are fully enforceable. The complaint seeks a court order that each of the credit default swaps remains in full force and effect."
SCA is 42% owned by XL Capital Ltd. (XL). An SCA spokesman wasn't immediately available for comment.
-By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray*dowjones.com
(END) Dow Jones Newswires
March 19, 2008 15:13 ET (19:13 GMT)
bounce at .54?? and .34??? naaaay prolly go up to 1.46
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
My friend told me he made 7k on SCA from my pick. Sweet!
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
It's all the one's he didn't tell me I'm wonderin about! lmao
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
screwed up on setting a trade trigger to catch the gains on ARM today. Got in at 10.95 and the trigger sold the stock automatically at 11.28 I need 11.32 to make a 3% gain so I only picked up around 2% but much better than a loss. it would have been nice though to get out of it around 12. I did apply for margin but heres the problem I see with that. I have to keep putting the whole boat in one stock. So lets say I have $3,500 available in margin. The next stock I play I have to invest around 3,300(3 days when it clears) If I make a good pick that will go up 100 bucks eventually I will (hopefully) surpass what I have available on margin and I won't be able to use the whole amount to keep trying this 3% gain chart. Make sense..... Right or wrong?
Posts: 492 | From: new york | Registered: Jul 2005
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posted
I have no idea what you mean. Margin is calculated as a %, and if you're going "all-in" on each, the % would probably be 50, meaning you have to have 50% of your money in the trade. In other words if your account has 3000 you can buy 6000 worth. But the whole point is that you won't actually be using margin. You'll still just buy your 3000 worth, but you can sell it and buy more right away.
Let me know if that doesn't clear it up.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
So P, what your telling me is Margin isn't a set amount it goes up in line as my cash balance goes up? It's been over a year since I had a margin account so I don't remember how the money went. So if I actually increased my balance to say 5k then I would have 5 k available on margin? If I had 10K then I'd have 10 margin etc.etc,,
Posts: 492 | From: new york | Registered: Jul 2005
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posted
Kinda sorta. There's no set "amount available". Basically the broker can have whatever requirements they want (I think, and probably with some govt imposed limitation). What I think is standard is 20% if you're well diversified (i.e., if you have $3,000 you can buy $10,000 worth of stock, because you'd put up 30% of the money), and if you put it all into one stock it's 50%, and for stocks under $5, or others that they deem to be "risky", they may not allow margin borrowing.
But like I said, this shouldn't be an issue for you, because you aren't planning to trade on margin. You'd be just setting it up to get around the 3-day rule, but you'd never really be trading on margin.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
I do remember from before since you mentioned it. You can't buy on margin any stock under 5 bucks. But I don't plan to ever play a 5 dollar stock again. I like these big board stocks at support with room to move. And thanks for the info and suggestions.
Posts: 492 | From: new york | Registered: Jul 2005
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quote:Originally posted by jgrecoconstr: I do remember from before since you mentioned it. You can't buy on margin any stock under 5 bucks. But I don't plan to ever play a 5 dollar stock again. I like these big board stocks at support with room to move. And thanks for the info and suggestions.
You can buy any stock you want on margin....get a different broker!!!
You can also short what ever you want!
for most retail brokers they give you 2x margin...meaning you can buy 2x you cash worth of stocks...if you have 5k you can buy 10k worth of stocks.
If you have a daytrading account...you have 4x buying power during the day...but the normal 2x if you hold overnight....
but like I said you can find brokers that will let you do what ever you want...litteraly!
Posts: 2321 | Registered: Aug 2006
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posted
Ace I have never shorted a stock before. I never read up on that or tried to learn it. I did try reading a book on options a few weeks back but I got lost in the pages. Different terminologies and I couldn't absorb anything. I set that down rather quickly. For the time being I'm going to just try and stick with the one thing that I think and feel I understand and see how that goes.If I can get the margin and get past the three day hold and trade smartly and not waver from the plan I should be OK. That said the three day wait at the moment isn't hurting cause I couldn't find a stock last night that looked like a good play today.
Posts: 492 | From: new york | Registered: Jul 2005
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I know a lot about TA but almost nothing about the Fundamentals..I'll let you guys know how it is Posts: 1075 | From: weeeeeeee | Registered: Sep 2007
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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