How 'bout that stock market?

Question for you guys.

I'm going to open an account and start trading, probably with about $4,000 to learn the ropes and get my feet wet. I'll be mostly day trading, hopefully short term scalping.

From what I understand, if I pursue that style of trading I'll get hit with the pattern day trader tag right away, and my account will get locked up until I get $25k total in it.

Is there any way around this? Any suggestions?
 
No way around this. Limit your trading so you're not flagged and frozen. They *will* require you maintain 25K minimum if you're flagged.
 
Steve didn't you say that the market was coiled up like a spring and would pop to the upside this week?

And didn't I say you'd get ur ass handed to you buying bank stocks? (still will, for any period longer than a week from now)






Just messing bro. :wink:
 
Ski_Banker said:
Steve didn't you say that the market was coiled up like a spring and would pop to the upside this week?

And didn't I say you'd get ur ass handed to you buying bank stocks? (still will, for any period longer than a week from now)






Just messing bro. :wink:
Click to expand...


No I don't remember you making any prediction more exact than Nostradamus did. Fact is you are VERY vague in anything you say so you can interpret it later in a way that benefits you. You would be a great politician.


Anyways, how many times have you been to Vegas? How many times do the people who go to Vegas win? Not very often because the house always wins. Well LEH, C, they are the house in this situation and they aren't going to lose and if they do no one in the Casino will be able to cash in their chips, no one. You got your BSC and that's it. You heard Paulson, these banks are too interconnected to fail.
 
steveny said:
No I don't remember you making any prediction more exact than Nostradamus did. Fact is you are VERY vague in anything you say so you can interpret it later in a way that benefits you. You would be a great politician.


Anyways, how many times have you been to Vegas? How many times do the people who go to Vegas win? Not very often because the house always wins. Well LEH, C, they are the house in this situation and they aren't going to lose and if they do no one in the Casino will be able to cash in their chips, no one. You got your BSC and that's it. You heard Paulson, these banks are too interconnected to fail.
Click to expand...

BSC did fail. When was the last time an event like that occurred? 18 years ago and only due to a criminal indictment (Drexel). How about the rest of the bank stocks? Aside from BofA, Citi and a few other of the very largest -- all are down 50+% from Jan/March. From their peaks, many are down 80-90%. That's failure, regardless of if there is a bankruptcy sign posted on the HQ door.

Anyways...
 
Last edited:
Ski_Banker said:
BSC did fail. When was the last time an event like that occurred? 18 years ago and only due to a criminal indictment (Drexel). How about the rest of the bank stocks? Aside from BofA, Citi and a few other of the very largest -- all are down 50+% from Jan/March. From their peaks, many are down 80-90%. That's failure, regardless of if there is a bankruptcy sign posted on the HQ door.

Anyways...
Click to expand...

That's great good thing I didn't buy in Jan/March. :biggrin: It's just as much failure as it is opportunity.

You know what I find interesting is every time there is a great economy in this country it is followed by a scandal.

I guess we just have to wait and see how it pans out.

I am long as in bought for the upside long this week.

C
BAC
AIG
LEH
FITB

If you were so sure there was going to be a huge meltdown why didn't you go short?
 
I think Ski is full of shit, post me a link to the posts to what and time you got short. I post my trades here and my thought losers and all. Every call is good after the fact.
 
http://www.streetinsider.com/Analys...on+Brokers+-+MS,+MER,+LEH+and+GS/3760366.html


Citi Makes Positive Comments on Brokers - MS, MER, LEH and GS


June 20, 2008 9:03 AM EDT

Citi analyst says, "..Some of the most compelling valuations in years. We continue to view Morgan Stanley (NYSE: MS), Merrill Lynch (NYSE: MER), and Lehman Bros. (NYSE: LEH) as undervalued relative to the earnings power of their franchises. (Citi maintains Buy ratings on MS, MER and LEH - Citi maintains Hold on Goldman Sachs (NYSE: GS))

"We believe that the core earnings power at Morgan Stanley has been underestimated. Based on the franchise's current ability to generate meaningful revenue growth, the CEO's commitment to focus on accelerating revenue growth, and a cost base that has been tremendously burdened with regulatory and legal-related costs-in our view, it's a matter of when, not if, the earnings power will meaningfully accelerate, resulting in enhanced shareholder value." PT $65

"We see the current valuation as a highly attractive entry point into Lehman shares. The coordinated actions taken by the Fed & Treasury to provide meaningful liquidity, and the Lehman management team's very good track record of creating value and risk management both serve as downside protection. Furthermore, we estimate that Lehman shares are discounting roughly an 8% ROE and that the earnings power of the franchise will conservatively result in an ROE that is 50% higher than the stock is currently discounting." PT $50

Now if we can just keep Israel out of Iran we should be setting up for a nice pop.
 
My High School Principal told me to specialise but I still clean my own bathroom. Come to think of it I was a prettty good janitor at one time.

I voted to short GS last October but I never acted because I don't have any money. I believe I shorted them out of spite. I was right but that is not a good investment strategy.
 
Anyone else watching this.. C @ 18.64 and NOV up almost 7%.
 
Against Skibanker's wise words I'm long C in the mid 18's. Picked up some YUM as well. I'm lacking a good hedge because the energy/commodity stocks have risen so steadily, what are you shorting right now steveny? I was long SKF as a hedge but sold most of it once it finally cleared the 140 level again.
 
sahtt said:
Against Skibanker's wise words I'm long C in the mid 18's. Picked up some YUM as well. I'm lacking a good hedge because the energy/commodity stocks have risen so steadily, what are you shorting right now steveny? I was long SKF as a hedge but sold most of it once it finally cleared the 140 level again.
Click to expand...

I am short oil..DTO. that is my only short.

Just picked up 6500 shares of C at 18.59

edit...

and I bought 500 more AIG at 30.60
 
chado said:
Picked up some CC myself... :rolleyes:
Click to expand...

Good luck with it.

I had to sell before the market closed, as this was only a daytrade for me. Lost $800.

I can't help but feel that CC is a good long-term hold, however, Again, I rather doubt Blockbuster is going to be able to pull off a buy-out of CC, but if management can get through their restructuring there may be a lot of value in this stock.

I'll be watching CC for another trading opportunity. It'll probably be up 50 cents tomorrow am. LOL
 

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