Any stock traders?

[BanginJimmy]

I am looking into getting into stock trading on a very small scale (less than 10k total).

I procrastinated on buying bear stearns and lost over 3k because of it. Now I am looking into a few other companies and a few more penny stocks to try to nickle and dime some spare cash.

Does anyone have a prefered stock or mutual fund that I should be looking into? I'm not looking to get rich off this or make a living off it, just looking to put together some spare cash for toys.

[blaknoize]

I'm not a stock broker, but I DO kno u need to diversify. Dont keep all them eggs in one basket. I'm looking into it myself. I'm choosing the ones that are down for the moment; the stock market always recovers.

So... I'm choosing the housing market businesses (Lowes, Home Depot) and things of that nature and a few others. But... the only other recommendation I would propose (being a noob to this) is to either buy or rent the book: The Only Investment Guide You Will Ever Need, by: Andrew Tobias. Its full of handy info for the noob and he doesnt sugar coat it.

[blaknoize]

And I wanna start with both a mutual fund (Vanguard in particular) and justa set of run-of-the-mill stocks and bonds to keep my assets kinda liquid. But please keep in mind, I'ma noob myself.

[BanginJimmy]

I'm not a stock broker, but I DO kno u need to diversify. Dont keep all them eggs in one basket. I'm looking into it myself. I'm choosing the ones that are down for the moment; the stock market always recovers.

So... I'm choosing the housing market businesses (Lowes, Home Depot) and things of that nature and a few others. But... the only other recommendation I would propose (being a noob to this) is to either buy or rent the book: The Only Investment Guide You Will Ever Need, by: Andrew Tobias. Its full of handy info for the noob and he doesnt sugar coat it.


Thanks for the info, I'll look into that book.

I advise to check out bear sterns if you are already trading. This is a company that was trading at over $150.00 a share at this time last year and is just under $11.00 a share now. They will continue to make gains as people regain trust in them.

[blaknoize]

Oh yea. Well I need to get money first. Everytime I get that $1000 upfront stuff it ends up goin into my CAR cuz my fukin CAR desires to breakdown. But I'll get there.

But again, if u look into mutual funds (which are always good hedges to store money) make sure its a no-load. The loaded ones perform no better than those that arent.

[BanginJimmy]

yea I know that much already. I will also be moving some of the profits into a Roth.

[blaknoize]

Oh yea, Roth when ur young, Traditional when ur old, well wealthier than u were.

[BanginJimmy]

I like the Roth for 1 very important reason. You can take money out of it without penalties or taxes just as long as you dont touch the principle. So if you are building it up for say 10 years and put into it every month you can use that cash if anything happens and you need cash in a hurry.

[blaknoize]

Plus, the money u put in is the actual AMOUNT. Ur EARNING that money to put in, so if u make $4000 extra g's, then thats truly 4000g's

[mad3nch1na]

Buy the book Sane investing in an Insane world by Jim Crammer. He is the same guy that hosts Mad Money on TV. Remember its not buy and hold, its buy and HOMEWORK!

[mad3nch1na]

I focus on energy cause thats where the "future" is, by the way, what brokerage firm are you using?

[BanginJimmy]

I'm using e-trade because I prefer to do everything online and they have the lowest rates and equal info.

[Spektrewing386]

guy some Sirius radio. they just got DOJ approval for a merger and all the need is the FCC. its at 2.83 right now which is pretty low and when XM and them merge people say it will go to like 5 or 6. but the FCC is being an ass about it and have been holding up this deal for over a year which is stupid.

[BanginJimmy]

I have been paying attention to that deal. The problem is, there is some technology on the way thats supposed to make sat radio obsolete. Something sat internet based I believe.

[mad3nch1na]

Make sure you read some stock trading books, 100 dollars worth of books can save/earn you thousands of dollars!