Diamonds Posted June 5, 2008 Report Share Posted June 5, 2008 Like i said, my father gets tips, is "on the level" with news etc.... take it for what its' worth... don't blame me if you lose... the last time my father had this sort of tip i made 31% in 3 weeks... I'm gonna buy YUM. I heard this guy, and I DID hear about the good words for YUM and DRI, etc, but I didn't hear any negatives about bwld or others. But YUM is Col. Sanders, and Taco Bell, etc, and this guy said CHINA is going to drag YUM right thru the roof. I will be watching Friday at 8am, and you should, too, Barry, cuz there are about 5 BIG announcements tomorrow, and the indicated that 5 pieces of good news could drive the market to another day like today. Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted June 5, 2008 Report Share Posted June 5, 2008 My next big thing.... penny stocks!!!! How would I do that? Most places won't let you buy stock that is under $1. This thread is very interesting. Please keep this alive. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 5, 2008 Report Share Posted June 5, 2008 Like i said, my father gets tips, is "on the level" with news etc.... take it for what its' worth... don't blame me if you lose... the last time my father had this sort of tip i made 31% in 3 weeks... I'm gonna buy YUM. I heard this guy, and I DID hear about the good words for YUM and DRI, etc, but I didn't hear any negatives about bwld or others. But YUM is Col. Sanders, and Taco Bell, etc, and this guy said CHINA is going to drag YUM right thru the roof. I will be watching Friday at 8am, and you should, too, Barry, cuz there are about 5 BIG announcements tomorrow, and the indicated that 5 pieces of good news could drive the market to another day like today. I have been hearing the tips on YUM for about 2-3 months now. I just tend to stay out of that sector. It is up around $6 since february. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 5, 2008 Report Share Posted June 5, 2008 How would I do that? Most places won't let you buy stock that is under $1. This thread is very interesting. Please keep this alive. Do your research on "Pink Sheet Traders" before you even think about penny stocks Quote Link to comment Share on other sites More sharing options...
LJ Posted June 5, 2008 Report Share Posted June 5, 2008 he hasn't charged me anything....except the cost of the things I invested in. The correct answer would be He charges me: a. A % of my total portfolio value. b. A % of my total gains. c. A % of my underlying portfolio value (cash value invested) Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted June 6, 2008 Report Share Posted June 6, 2008 Do your research on "Pink Sheet Traders" before you even think about penny stocks I do know what it is. Most if not all of them are OTC. It's is an extremely high risk stuff, boderline gambling. Just don't know where to get in on the action. Quote Link to comment Share on other sites More sharing options...
Akula Posted June 6, 2008 Report Share Posted June 6, 2008 Also I have made a few dollars in Drips or DSPs as well. Something to look into. Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted June 6, 2008 Report Share Posted June 6, 2008 I like ASIA. Have already double my money this year and still going. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 6, 2008 Report Share Posted June 6, 2008 I like ASIA. Have already double my money this year and still going. I've never traded on the Nikkei, but my personal portfolio and my client's portfolio owns an Asian fund. Also I have made a few dollars in Drips or DSPs as well. Something to look into. Yeah, it is really the way to go if you don't have much money to invest and want to hold somehting for 15-20 years. Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted June 6, 2008 Report Share Posted June 6, 2008 I've never traded on the Nikkei, but my personal portfolio and my client's portfolio owns an Asian fund. . No, ASIA is the name of the stock. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 6, 2008 Report Share Posted June 6, 2008 No, ASIA is the name of the stock. ahh, nice $6 run it has has in the past few months. My biggest money maker is CHK. I started buying in January Quote Link to comment Share on other sites More sharing options...
thorne Posted June 6, 2008 Report Share Posted June 6, 2008 buying a condo is stupid. Everyone I know who has ever done it regrets it because no one wants to buy something thats connected to other people. Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted June 6, 2008 Report Share Posted June 6, 2008 Well first as already said at least contribute the maximum you're company matches in your 401k. It's free money. I also recommend a Roth IRA. Deferred taxes FTW. As for play money. If you are a buy and hold type investor you can just start buying up stock. But IMO you might as well just invest the money in a stock based mutual fund. For day trading you are going to need to start with a bit more money to make it work. Try to save up 8-10k before starting. You will also have to do quite a bit of homework and get to know the companies you want to invest in. This includes looking at the balance sheets, keeping up on the news, and listening to the quarter conference calls (or reading the transcripts). Day trading can easily be a full time job. You will also have to get to know the whole industry. How to pick out trend lines and stay ahead of the game. Which is all the stock market is, one big game. Oh and try to keep emotion out of it. I've made thousands and lost thousands. When you let you're emotions get in the way, you make stupid decisions. I try not to listen to tips. There's no harm in doing some research on a tip, but don't invest blindly or on just someones elses word. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 6, 2008 Report Share Posted June 6, 2008 Try to save up 8-10k before starting. Per SEC regulation it is required that your account hold at least $25,000 (for day trading) in cash or a mixture of cash and equity. You will get margin called if your account value goes to $24,999.99. If your account does not hold this amount you will be flagged by the SEC and your account relegated to exiting positions only until your balance is above 25k. This does not include margin Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted June 6, 2008 Report Share Posted June 6, 2008 Per SEC regulation it is required that your account hold at least $25,000 (for day trading) in cash or a mixture of cash and equity. You will get margin called if your account value goes to $24,999.99. If your account does not hold this amount you will be flagged by the SEC and your account relegated to exiting positions only until your balance is above 25k. This does not include margin Well I guess what I do isn't technically day trading. I've only been in and out in the same day a few times. But I'm usually in and out in the same week. I've pulled all my play money though since I'm buying a house. Haven't done any trading in 4-5 months. Quote Link to comment Share on other sites More sharing options...
Diamonds Posted June 6, 2008 Report Share Posted June 6, 2008 I try not to listen to tips. There's no harm in doing some research on a tip, but don't invest blindly or on just someones elses word. Valid point - I have gotten plenty of tips that i did research on and founf flaws in their so-called "plans".. Although.... every tip my father has given me has been good... Quote Link to comment Share on other sites More sharing options...
Conesmasher Posted June 7, 2008 Report Share Posted June 7, 2008 Well first as already said at least contribute the maximum you're company matches in your 401k. It's free money. I also recommend a Roth IRA. Deferred taxes FTW. I know that this is probably just a small error, but the Roth is not tax deferred, it is tax free. The 401k is tax deferred, as would be the traditional IRA. I find that A LOT of folks could take their finances in their own hands, work super hard and only get average returns. I'm personally a fan of index fund, which for many folks is "subpar", but realistically average return of the S&P Index is pretty nice. But nothing beats a well-managed portfolio. But some folks are DIY and it's hard to get past the idea that others can do it better. Quote Link to comment Share on other sites More sharing options...
Guest mrhobbz Posted June 7, 2008 Report Share Posted June 7, 2008 buying a condo is stupid. Everyone I know who has ever done it regrets it because no one wants to buy something thats connected to other people. Let me repeat this one more time, they're not connected. Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted June 7, 2008 Report Share Posted June 7, 2008 I know that this is probably just a small error, but the Roth is not tax deferred, it is tax free. The 401k is tax deferred, as would be the traditional IRA. Yep my bad. If you wait until you are 59 1/2 it is tax free. Quote Link to comment Share on other sites More sharing options...
Guest mrhobbz Posted June 7, 2008 Report Share Posted June 7, 2008 Yep my bad. If you wait until you are 59 1/2 it is tax free. My employer doesn't offer a 401k plan for me, so thats why I'm looking into a roth IRA. Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted June 8, 2008 Report Share Posted June 8, 2008 So what is the differences between the traditional IRA and ROTH IRA? And how muchis the max I can contribute to each? Thanks in advance!! Quote Link to comment Share on other sites More sharing options...
HotCarl Posted June 8, 2008 Report Share Posted June 8, 2008 So what is the differences between the traditional IRA and ROTH IRA? And how muchis the max I can contribute to each? Thanks in advance!! The max amount of contribution as of 2008 is $5,000 as long as you make under $101,000 annually. A traditional IRA will give you a tax break now just as a 401k will depending on your tax bracket but a Roth will benefit you more when you actually use the money when you retire but you dont get the tax break now when you actually contribute the money. So... you either benefit now or when you retire. Due to now knowing what your financial stability will be with your 60y/o and not knowing what your tax bracket will be chances are you will save more money through not paying as much taxes if you contribute to a Roth IRA. This is the way I understand it, I am DEFINITLY not an expert so dont take my advice until you talk to a professional. Quote Link to comment Share on other sites More sharing options...
Guest mrhobbz Posted June 8, 2008 Report Share Posted June 8, 2008 The max amount of contribution as of 2008 is $5,000 as long as you make under $101,000 annually. A traditional IRA will give you a tax break now just as a 401k will depending on your tax bracket but a Roth will benefit you more when you actually use the money when you retire but you dont get the tax break now when you actually contribute the money. So... you either benefit now or when you retire. Due to now knowing what your financial stability will be with your 60y/o and not knowing what your tax bracket will be chances are you will save more money through not paying as much taxes if you contribute to a Roth IRA. This is the way I understand it, I am DEFINITLY not an expert so dont take my advice until you talk to a professional. Yeah that pretty much sums it up. Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted June 9, 2008 Report Share Posted June 9, 2008 The max amount of contribution as of 2008 is $5,000 as long as you make under $101,000 annually. A traditional IRA will give you a tax break now just as a 401k will depending on your tax bracket but a Roth will benefit you more when you actually use the money when you retire but you dont get the tax break now when you actually contribute the money. So... you either benefit now or when you retire. Due to now knowing what your financial stability will be with your 60y/o and not knowing what your tax bracket will be chances are you will save more money through not paying as much taxes if you contribute to a Roth IRA. This is the way I understand it, I am DEFINITLY not an expert so dont take my advice until you talk to a professional. So there's no max amount for my contribution to the ROTH IRA? Anyway, AKNS is a good buy right now. It should be up to $7.00+ soon. This stock go up and down in the $5-7 range. Quote Link to comment Share on other sites More sharing options...
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