Any stock day traders in here?

370Zsteve · 10-20-2009, 03:29 AM

Quote:

Originally Posted by shabarivas

Newegg ipo has been announced

newegg is an excellent company!

ima edit this for an explanation: I'm an IT Consultant, I've been using newegg for a few years now. Hands-down, the best customer service, best prices (usually), fastest delivery. Amazing website.

As for IPO's, beware. The usual scenario is for a quick pop on an IPO, followed by a steep drop. Not saying it's gonna happen (look at the Mastercard IPO), but it is a very common occurrence.

I'm going to keep an eye on the newegg IPO, though, because I like investing in companies I like to do business with...if the price is right.........................................

370Zsteve · 10-20-2009, 04:17 AM

Quote:

Originally Posted by RCZ

How is this ******* productive? What value did that comment add to the thread? Do you think you're funny, or right? man people like you piss me off.

Its like you think by reading books you know more than the next guy? Give me a few books? I don't need books, I just quit the industry 4 months ago.

We are trying to exchange useful information here and what do you do? come in here and call us fools and try to pretend you are cool even though you just made the nerdiest WoW joke I've ever heard?

Do you even have a 370z yet?

I'm not even gonna get started on your sig because somehow I'm not surprised about how obnoxious it is.

Any other stupid comments to stir the pot or do you want to say something useful for a change? Your choice.

I have no more patience for crap like this.

Easy there big fella. No offense intended. It was my opinion, nothing more. I suppose in my defense, holding Activision as my largest holding for 5 years proves my point, being in the stock market for decades does the same. I've done very well in the markets, I think the DJIA was somewhere around 1000 when I first got in. I'm 55, and I quit my full-time job 4 years ago. Dividends alone pay my mortgage. Compounded dividends, over time, ftw.

I didn't make a 'WoW joke', so not sure where that is coming from. I did make a comment that I actually have a WoW account. In fact, I created it for DD on my Activision holding when the merger with Blizzard was announced. It convinced me to substantially add to my ATVI.

Don't have a 370Z yet, sorry about that. And I am not alone in that regard on this forum. I'm waiting for the sale of a piece of real estate to close. Yes, real estate. A great investment, long-term. Then I'll pay cash for my 370Z. In fact, I could buy 40 of them from the sale of this house in Brooklyn, but one should be enough. Just checked with Fusz on his inventory yesterday.

Didn't realize ownership was required to post.

I suppose in retrospect I was a bit harsh using the word 'fools'. Stupid on my part.

I don't read too many books on the subject, never have. My old man was head of the Trust Dept for Bankers Trust on Wall St back in the day, and his old man owned a brokerage. I kind of grew up with this sh!t. The fact that you "quit the industry 4 months ago" does not impress me in the slightest, but I've never had an issue with you (or anyone else besides the mudman) on this forum. Seems to be a touchy subject with you, so I'll just back off trying to give "useful information" about why I think daytrading is a losing bet. That doesn't mean I don't wish you good luck at it, or success.

As for the sig, you think it's obnoxious, that's fine with me. Your opinion on my sig is worth nothing.

You want a tip? Buy Eli Lilly asap, hold it for ten years, you'll be rich. Look at the cash flow, look at the P/E.

Again, no offense intended, had I realized how passionate you guys are about the subject, it never would have happened.

On that note..........................

370Zsteve · 10-20-2009, 04:19 AM

Quote:

Originally Posted by JoeD

<--- Equity Trader for a "small" capital-management firm.

I'm not at liberty to divulge too much information, although it's safe to say that I personally will be initiating a new short-position in AAPL in about 5 hours.

Joe, shut up.

How's the AAPL short working out this morning, oops.

JoeD · 10-20-2009, 12:00 PM

Quote:

Originally Posted by 370Zsteve

How's the AAPL short working out this morning, oops.

Fairly well. It was initiated this morning at $202.06. Looking to cover under $198 today.

phelan · 10-20-2009, 12:08 PM

Work picks up = me bowing out of daytime trading for a bit. Back into some mutual funds I go for the next six months or so...

Yay for Vanguard no-fee funds!

370Zsteve · 10-20-2009, 03:09 PM

Quote:

Originally Posted by phelan

Work picks up = me bowing out of daytime trading for a bit. Back into some mutual funds I go for the next six months or so...

Yay for Vanguard no-fee funds!

Vanguard ftw!

370Zsteve · 10-20-2009, 03:15 PM

Quote:

Originally Posted by JoeD

Fairly well. It was initiated this morning at $202.06. Looking to cover under $198 today.

Hey if it ain't BS, grats. Your post is long after it went up. Hmmm, Marketcaster is showing the high for the day is $201.75. What time did you short the stock?

JoeD · 10-20-2009, 03:53 PM

Quote:

Originally Posted by 370Zsteve

Hey if it ain't BS, grats. Your post is long after it went up. Hmmm, Marketcaster is showing the high for the day is $201.75. What time did you short the stock?

This alone shows that you are in no position to speak to me about the markets. Please go to school, or at least educate yourself on the subject.

The position was opened pre-market right around 5:00 AM PST, exactly 5 hours from my initial post in this thread as I called it. Covered between $198.325-$198.29 20 minutes ago.

$3.75/share gain x 790 shares - an insignificant commission...you do the math, then come back and tell me that "day-trading is for fools." This was a simple trade that didn't even much attention in front of my Bloomberg, allowing me to allocate resources to other trades.

370Zsteve · 10-20-2009, 04:03 PM

Quote:

Originally Posted by JoeD

This alone shows that you are in no position to speak to me about the markets. Please go to school, or at least educate yourself on the subject.

The position was opened pre-market right around 5:00 AM PST, exactly 5 hours from my initial post in this thread as I called it. Covered between $198.325-$198.29 20 minutes ago.

$3.75/share gain x 790 shares - an insignificant commission...you do the math, then come back and tell me that "day-trading is for fools." This was a simple trade that didn't even much attention in front of my Bloomberg, allowing me to allocate resources to other trades.

No need to get testy, Joe. As I stated, and you must have missed: "If it ain't BS, good call". So if it ain't BS, Joe, good call. Feel better? Not always easy to slide in pre-market on a run like AAPL, as I'm sure you well know since you are the Warren Buffett of eTrade. Get off your horse now, sonny. I'm sure we won't be hearing about all the daytrading that didn't work out, hmmm? Your post was at 1pm. No way to verify you aren't completely full of sh!t. Your trade was for $157000? I call BS. After all:

Now hurry along, Joe. Fast Money is on in a few minutes. Loser.

Boostcrazy · 10-20-2009, 04:26 PM

Where do you guys get your information on companies that have events coming up for them that could affect their stock? I've been interested in joining E-trade for awhile now, but would like to learn some more about it.

370Zsteve · 10-20-2009, 04:35 PM

Quote:

Originally Posted by Boostcrazy

Where do you guys get your information on companies that have events coming up for them that could affect their stock? I've been interested in joining E-trade for awhile now, but would like to learn some more about it.

Don't watch Cramer, Fast Money, or pretty much anything on CNBC, it's all worthless nonsense.

Read The Intelligent Investor by Benjamin Graham. It was written in 1949, I think. But don't take my word for it:

"By far the best book on investing ever written." -- Warren E. Buffett

"There have been other good books written about money since 1841, but only a few hold up. The best known and most likely to make you money is The Intelligent Investor." -- Andrew Tobias

"Graham ranks as this century's (and perhaps history's) most important thinker on applied portfolio investment." -- John Train, author of The Money Masters

Boostcrazy · 10-20-2009, 04:39 PM

Thanks I will have to check that out! But for example the Newegg IPO, where do guys get the tidbits on what all these companies are doing. Is there a site? or is it just word of mouth? lol I sound like a complete loser when it comes to this stuff.

370Zsteve · 10-20-2009, 05:04 PM

Quote:

Originally Posted by Boostcrazy

Thanks I will have to check that out! But for example the Newegg IPO, where do guys get the tidbits on what all these companies are doing. Is there a site? or is it just word of mouth? lol I sound like a complete loser when it comes to this stuff.

Boost, the only thing I can tell you is that I have both an eTrade account and a full-service account at Smith Barney. The full service account gets me access through my broker to these "tidbits" you seek. However the full service broker comes with a rather hefty commission.................

good luck Boost, read that book.

phelan · 10-20-2009, 05:16 PM

The only reason I watch Cramer is to play on the people who actually buy the stuff he recommends (which is 10% correct IMO lol)

Some of them actually get affected quite a bit after he makes a call. Cramerica is good for something!

JoeD · 10-20-2009, 05:59 PM

Cramer is an intelligent man who has lead a very successful career as a fund manager. Yes, he is merely an entertainer, but his principles and ideas are no different than what any other knowledgeable broker/manager would advise any of his retail investors. Note I said principles and ideas and retail investors. Individual picks, on the other hand, are a different story. I would not advise anyone to act on a single stock-pick they see or hear about on TV or any form of mass-media. CNBC and Bloomberg should be used strictly as they are intended for as a news outlet, not investment advice.

370Zsteve, please refrain from wasting my time by responding to my posts. Become a fund manager by profession, and then perhaps I will give you the time of day. Thanks.

10-20-2009, 12:08 PM	#50 (permalink)
phelan A True Z Fanatic Join Date: Apr 2009 Location: CA Age: 38 Posts: 9,513 Drives: Scoobaroo Rep Power: 3406	Work picks up = me bowing out of daytime trading for a bit. Back into some mutual funds I go for the next six months or so... Yay for Vanguard no-fee funds! __________________ 凛 ('Rin') - 2009 Nissan 370Z With silence comes peace. With peace comes freedom. With freedom comes silence.

10-20-2009, 05:16 PM	#59 (permalink)
phelan A True Z Fanatic Join Date: Apr 2009 Location: CA Age: 38 Posts: 9,513 Drives: Scoobaroo Rep Power: 3406	The only reason I watch Cramer is to play on the people who actually buy the stuff he recommends (which is 10% correct IMO lol) Some of them actually get affected quite a bit after he makes a call. Cramerica is good for something! __________________ 凛 ('Rin') - 2009 Nissan 370Z With silence comes peace. With peace comes freedom. With freedom comes silence.

10-20-2009, 05:59 PM	#60 (permalink)
JoeD Banned Join Date: Aug 2009 Location: CA Posts: 495 Drives: Z Rep Power: 0	Cramer is an intelligent man who has lead a very successful career as a fund manager. Yes, he is merely an entertainer, but his principles and ideas are no different than what any other knowledgeable broker/manager would advise any of his retail investors. Note I said principles and ideas and retail investors. Individual picks, on the other hand, are a different story. I would not advise anyone to act on a single stock-pick they see or hear about on TV or any form of mass-media. CNBC and Bloomberg should be used strictly as they are intended for as a news outlet, not investment advice. 370Zsteve, please refrain from wasting my time by responding to my posts. Become a fund manager by profession, and then perhaps I will give you the time of day. Thanks. Last edited by JoeD; 10-20-2009 at 06:57 PM.

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10-20-2009, 04:26 PM	#55 (permalink)
Boostcrazy Base Member Join Date: Jun 2009 Location: Sanford, FL Posts: 45 Drives: '13 PW 370Z Sports Rep Power: 16	Where do you guys get your information on companies that have events coming up for them that could affect their stock? I've been interested in joining E-trade for awhile now, but would like to learn some more about it.

10-20-2009, 04:39 PM	#57 (permalink)
Boostcrazy Base Member Join Date: Jun 2009 Location: Sanford, FL Posts: 45 Drives: '13 PW 370Z Sports Rep Power: 16	Thanks I will have to check that out! But for example the Newegg IPO, where do guys get the tidbits on what all these companies are doing. Is there a site? or is it just word of mouth? lol I sound like a complete loser when it comes to this stuff.