OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT

NFLX makes me want to vomit with its rally..

AAPL has me very depressed with its continuous plummet

On the other hand RIMM and SBUX has my attention... What to do... What to do?!?! Lol

Anyone here trade as a living... I've been wanting to drop my day job and pursue doing so.. Any advice or experiences?
 
Cl0bro said:
NFLX makes me want to vomit with its rally..

AAPL has me very depressed with its continuous plummet

On the other hand RIMM and SBUX has my attention... What to do... What to do?!?! Lol

Anyone here trade as a living... I've been wanting to drop my day job and pursue doing so.. Any advice or experiences?
Click to expand...

I have on and off, but also pursue other hustles. You will have your hot and cold streaks. Do not fall in love with any stock. Set stops and adhere to them. Go with your method, not your emotions, your emotions will cost you.

I mentioned many times before. DO NOT HOLD THROUGH EARNINGS. It is not much different than betting on a sports game. So treat it as such, or stay out.
 
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I fell in love with aapl and got burned bad... And held through earnings -_-... I own/inherited a huge chunk at 660... Bought more at 540... And then more at 480... God damn -_-.. Oh well.. I'm going to start unloading once it stabilizes
 
If AMZN has stellar earnings next week, a lot of AAPL money will transfer to AMZN IMO. Some has been transferred to GOOG or so it appears.
 
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Cl0bro said:
NFLX makes me want to vomit with its rally..

AAPL has me very depressed with its continuous plummet

On the other hand RIMM and SBUX has my attention... What to do... What to do?!?! Lol

Anyone here trade as a living... I've been wanting to drop my day job and pursue doing so.. Any advice or experiences?
Click to expand...
Don't chase.

Weekly trendline for AAPL from the lows in April 2003 and January 2009 was at 437.30 this week. Interesting that we hit 437.31 as the LOD. I do not want to see a decisive break of that line. I could ramble on about EW, but I'll save it unless any of you pay attention to that stuff.

Right now I'm looking at:

1. WMT: Couldn't close above daily SMA200 today. Kept hitting the upper BB on the daily during the week. Negative divergence on the daily MACDh. $67 has been a good support zone that was formed back in June. Would like to see that hold again before getting in.
2. GIS: Keeps hitting its head on 41.88, which was the ATH set in December. Has hit 41.87 twice this month, including today.
3. DXPE: Has been on an absolute tear lately. Way above the daily BB. Oversold on the daily RSI. I'll let it come down like it always does.
 
Anyone have any advice on learning charting.. Books.. Websites... Personal advice?
 
^To tell you the truth I'm not very experienced at all.. Blew all my profits multiple times... At a major loss
with apple at the moment... Oh well live
and learn.. I still feel like pursuing this... I might try it out for a few months and see how it goes... But I'm definitely doing a crap load of research before jumping into any stock... I feel with my current lifestyle and job I have no time to put into
Researching any company... If anyone can suggest any great books or info sources.. Please toss it all my way!
 
Cl0bro said:
^To tell you the truth I'm not very experienced at all.. Blew all my profits multiple times... At a major loss
with apple at the moment... Oh well live
and learn.. I still feel like pursuing this... I might try it out for a few months and see how it goes... But I'm definitely doing a crap load of research before jumping into any stock... I feel with my current lifestyle and job I have no time to put into
Researching any company... If anyone can suggest any great books or info sources.. Please toss it all my way!
Click to expand...

A lot of books are BS, I mean think about it. They're going to give you some magic formula for $25? Any method that's well documented probably doesn't work that well, or else everyone would be rolling in dough. Hate to say it, but the best way to learn is to lose money and trial/error. I wish someone told me all of this.
 
^ Figured I'd get that answer haha... Not only that,.. I'm sure any book I buy.. I can pretty much find the info on the net
 
freakydestroyer said:
A lot of books are BS, I mean think about it. They're going to give you some magic formula for $25? Any method that's well documented probably doesn't work that well, or else everyone would be rolling in dough. Hate to say it, but the best way to learn is to lose money and trial/error. I wish someone told me all of this.
Click to expand...
While there's no magic formula, there exists plenty of methods that are proven to work if you can implement them properly. Elliot Wave analysis is one. Unfortunately, most people are too stupid to understand it and too lazy to put in the effort.
 
Thanks for the replies and suggestions guys!.. Even though I can probably find this info on the net,.. Nothing beats sitting down and reading a book!... Hey wizard can you hook me up with the manual of the warrior of light?
 
hey guys!

awesome thread...

just a quick question, what online stock brokers do you guys use and which one is the best??

Etrade? Scott trade???

Thanks!!
 
nikehead said:
I started with Scottrade, and still have an account that I use with them

but my primary broker now is Interactive Brokers

I found Scottrade to be great for beginners and intermediate user, they have decent pricing on commissions, and give great pre market and after hours trading, plus a good user interface that is easy to navigate, the minimum to open for a margin account is $2k or you can open a regular cash account

IB is more difficult to navigate and is geared more toward the experienced and professional users, the minimum to open a margin account is $10K, but with IB you get more access to various types of trading from one account that is not offered by other brokers such as scottrade and others
Click to expand...
Thank you good sir.
 
nikehead said:
slimchicken said:
hey guys!

awesome thread...

just a quick question, what online stock brokers do you guys use and which one is the best??

Etrade? Scott trade???


Thanks!!
Click to expand...

I started with Scottrade, and still have an account that I use with them

but my primary broker now is Interactive Brokers

I found Scottrade to be great for beginners and intermediate user, they have decent pricing on commissions, and give great pre market and after hours trading, plus a good user interface that is easy to navigate, the minimum to open for a margin account is $2k or you can open a regular cash account

IB is more difficult to navigate and is geared more toward the experienced and professional users, the minimum to open a margin account is $10K, but with IB you get more access to various types of trading from one account that is not offered by other brokers such as scottrade and others
Click to expand...

When you say IB gives more access to various types of trading, you mean anything besides the stock market right? Like futures, commodities, currencies, bonds, etc?
 
Anyone used TradeKing? Thoughts? They have a decent commision at around 4.95, just weighing my options and i'd appreciate some insight from someone who has used the service. Thanks!
 
Zipp 202 said:
Anyone used TradeKing? Thoughts? They have a decent commision at around 4.95, just weighing my options and i'd appreciate some insight from someone who has used the service. Thanks!
Click to expand...

Last I heard they are merging with optionshouse which I cosigned until one day their system just locked everyone out of their account. It was on options expiration too. :{
 
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