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Stock-Age: Stocks, Options and Dividends oh my!

O

Ovid

Member
I've had the same problem with Sharebuilder since yesterday. As a result, I created a Zecco account. Plus, Zecco has free trades for the entire month of October.
 
T

Tarazet

Member
Well Zecco has been having the same problem, but they do have a backup trading site which is working just fine. You just can't access their main site.
 
L

lil smoke

Banned
Yeah man. I'm on hold waiting for an operator for 15 minutes now. I am considering giving them a piece of my mind, but I'd better stay calm.

I should just put the new money in Zecco, and finish off whatever I have held in TD. Most of it is red anyways :D

How the fuck can you have a trading site that doesn't let you trade or deposit funds? Inexcusable.

...


heh. it just went thru, right as I was googling zecco... these fuckers
 
A

ArtG

Member
Still waiting for the confirmation deposits to show up in my bank so I can verify my Zecco account. The wait is KILLING me. :lol
 
J

Justin Bailey

------ ------
ArtG said:
Still waiting for the confirmation deposits to show up in my bank so I can verify my Zecco account. The wait is KILLING me. :lol
Click to expand...
Zecco is very slow. I used them for about a year and switched to scottrade. FYI: I set up and had money in my scottrade account in about 20 minutes.
 
L

lil smoke

Banned
ArtG said:
Still waiting for the confirmation deposits to show up in my bank so I can verify my Zecco account. The wait is KILLING me. :lol
Click to expand...
Looks like everyone had the same idea :lol

Hey Market, next time don't crash around a semi-holiday!
 
A

ArtG

Member
Justin Bailey said:
Zecco is very slow. I used them for about a year and switched to scottrade. FYI: I set up and had money in my scottrade account in about 20 minutes.
Click to expand...

Currently, I just like that they're offering commission-free trades. That's why I want to use them right now.
 
K

kathode

Member
Sold out of my AAPL option for almost 30% on the money gain, right before it really started dropping below 110. Apparently rumor is that the event today might be underwhelming. Could very well bounce back strong but too risky right now. Every Apple presentation since the iphone has caused the stock to drag.
 
M

mollipen

Member
kathode said:
Sold out of my AAPL option for almost 30% on the money gain, right before it really started dropping below 110. Apparently rumor is that the event today might be underwhelming. Could very well bounce back strong but too risky right now. Every Apple presentation since the iphone has caused the stock to drag.
Click to expand...

That's kind of why I'm holding off right now on picking any more up. (Wish I had been in the position to buy at the time it was in the 90's... GRR.) I've never watched their stock on a day to day basis before recently, but I know they always seem to get hit no matter how good or bad of a showing they have at events like this.

I think I'm going to see what happens during/after the event, and decide then what to do.
 
D

Deku Tree

Member
I'm holding my AAPL, and buying bits more into dips. Eventually I think it will go back up to the stratosphere at least as long as Jobs is at the helm (and not in the hospital).
 
D

dionysus

Yaldog
I hate ameritrades day trading rules. I don't want to have to deal with the restrictions once you are classified as a day trader (been flagged several times already this year.) I want to take profits on my massive double downing I did on Friday, but can't.

Do other services have increased rules for day traders?

Edit. Did some research, looks like they are just complying with the NASD rules...My sister works for the NASD and is pretty high up, this is bullshit! I am calling her.
 
D

Deku Tree

Member
dionysus said:
I hate ameritrades day trading rules. I don't want to have to deal with the restrictions once you are classified as a day trader (been flagged several times already this year.) I want to take profits on my massive double downing I did on Friday, but can't.

Do other services have increased rules for day traders?

Edit. Did some research, looks like they are just complying with the NASD rules...My sister works for the NASD and is pretty high up, this is bullshit! I am calling her.
Click to expand...

Why can't you sell? How long do you have to wait to sell?
 
K

kathode

Member
lil smoke said:
I'm definitely holding AAPL. After seeing it go from 110 to 90 last week, I doubt this event will affect much.
Click to expand...

Holding my stock, yeah. Sold out of the option though. A $1 move down in the stock can easily cost me $100 in the option price.
 
D

dionysus

Yaldog
Deku Tree said:
Why can't you sell? How long do you have to wait to sell?
Click to expand...

If you are in a marginable account if you make a day trade/round trip (buy and sell the same stock in a 5 day period) too many times in a short timespan, you will be classifed as a day trader by the NASD (National Association of Securities Dealers). This results in higher margin requirements and more likelyhood of margin calls and forced selling.
 
J

Justin Bailey

------ ------
dionysus said:
If you are in a marginable account if you make a day trade/round trip (buy and sell the same stock in a 5 day period) too many times in a short timespan, you will be classifed as a day trader by the NASD (National Association of Securities Dealers). This results in higher margin requirements and more likelyhood of margin calls and forced selling.
Click to expand...
Do you know how many times and what the time period is?
 
K

kathode

Member
Apple is starting to tank a bit after they announced the Macbook prices ($2k and 2.5k). The $900 notebook turned out to be just a new display. On its way down below 106 right now. If I had more balls I would take out a put right now.
 
A

ArtG

Member
Just got into a cheap Amazon October Call ($60 strike.)...Hoping this last hour of trading doesn't murder me. Though, it's not a big investment, so it's worth it. Amazon's too beaten up.
 
T

Tarazet

Member
I should say before anyone buys any more options, DO NOT BUY OUT OF THE MONEY OCTOBER OPTIONS. They expire at the end of the week, so they are all patently worthless.
 
K

kathode

Member
sonarrat said:
I should say before anyone buys any more options, DO NOT BUY OUT OF THE MONEY OCTOBER OPTIONS. They expire at the end of the week, so they are all patently worthless.
Click to expand...

Yikes. Yeah make sure you have a solid grasp on time value before jumping into the options game.
 
A

ArtG

Member
kathode said:
Yikes. Yeah make sure you have a solid grasp on time value before jumping into the options game.
Click to expand...

I just made $40 on the trade. I didn't want to exercise that damn thing, I just knew the stock would come back.
 
T

Tarazet

Member
ArtG said:
I just made $40 on the trade. I didn't want to exercise that damn thing, I just knew the stock would come back.
Click to expand...

Just because you make money doesn't mean you were smart to do that. When you get that close to expiration date, you're playing with fire.
 
A

ArtG

Member
sonarrat said:
Just because you make money doesn't mean you were smart to do that. When you get that close to expiration date, you're playing with fire.
Click to expand...

I'm not going to make it a habit and I'm aware that it was very risky. Went with my gut and it paid off this time.
 
R

RumblingRosco

Member
Got in MMM and CAG mid day today; I'm sure the market will drop some more, but I'm not wanting to deal with trying to time what I'd think is the bottom and just got in now. Wish I had just done it on Friday, but this is a fine position for a long term purchase.
 
G

gkryhewy

Member
Justin Bailey said:
Do you know how many times and what the time period is?
Click to expand...

I believe it's 3 same-day buys-then-sells in a 5 business day period. Note that if you sell in the morning and then re-buy, you're in the clear.
 
L

lil smoke

Banned
gkrykewy said:
I disagree completely. "Sitting there" = stability = exactly what we need.
Click to expand...
If it really is stability, then yeah... but are we there yet? Or was this simply a lull in the action, and we have yet to see actual valuation on average of these prices?

If we have to take another -700 before we get back to where we were, I prefer that.
 
G

gkryhewy

Member
lil smoke said:
If it really is stability, then yeah... but are we there yet? Or was this simply a lull in the action, and we have yet to see actual valuation on average of these prices?
Click to expand...

Dude, it's been precisely one day of less than a 4% swing :lol . Let me get back to you in a week. All I'm saying is that it's much better to have a week of +/-1% days than a week of +/-5% days.
 
D

dionysus

Yaldog
Blue chips going up greater than 5% a day is just as scary as drops of 700 pts. Someone at CNBC said it best, when blue chip stocks go up 10% in a day on no news, fear is still driving the market. This time it is just fear of being left behind.
 
J

jamesinclair

Banned
Can someone explain this to me?

Im looking at stock prices to order now for execution in the morning.

Last Sale $20.40
Bid
$18.25
Ask
$45.00


What?

Why is the ask at 45 when the stock has been at 16-20 for the past week?

This is for ERJ (Embraer)
 
T

Tarazet

Member
jamesinclair said:
Can someone explain this to me?

Im looking at stock prices to order now for execution in the morning.

Last Sale $20.40
Bid
$18.25
Ask
$45.00


What?

Why is the ask at 45 when the stock has been at 16-20 for the past week?

This is for ERJ (Embraer)
Click to expand...

Afterhours trading is like the Wild West. If you try to buy that stock at market price in the afterhours market, you'll probably pay $45. That ask price is due to some wishful thinker, or cynical bastard, hoping that some sucker will pay it.
 
J

jamesinclair

Banned
sonarrat said:
Afterhours trading is like the Wild West. If you try to buy that stock at market price in the afterhours market, you'll probably pay $45. That ask price is due to some wishful thinker, or cynical bastard, hoping that some sucker will pay it.
Click to expand...

So how do I set it up to buy when the market opens at a real price?

Buy with limit order?
 
T

Tarazet

Member
jamesinclair said:
So how do I set it up to buy when the market opens at a real price?

Buy with limit order?
Click to expand...

I think it depends on the brokerage, but it should be fairly safe to place a market order to be executed as soon as the regular session starts. Normally you have to agree to special conditions in order to trade afterhours, so you won't do it by mistake.
 
K

kathode

Member
On Scottrade you have to click on a specific link to engage in afterhours trading. If you just put in an order normally, it will execute right at the market open.

Dow futures down 240 at the moment. Going to be a party today!
 
D

dionysus

Yaldog
As a worker in the oil patch, valuations are good right now but long term outlook for oil prices are not good in my opinion. I personally think we are going to around $50 a barrel.
 
G

gkryhewy

Member
dionysus said:
As a worker in the oil patch, valuations are good right now but long term outlook for oil prices are not good in my opinion. I personally think we are going to around $50 a barrel.
Click to expand...

Maybe in the medium term, which is why I'll wait right now, but over the long term (5+ years) I'm a peak-oil guy. Supplies will be constrained after the current recession.
 
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