Scottrade is pretty straightforward, $7 per trade, it's what I use. But if you trade too frequently (like buy/sell 6+ times a week or so), the system will tag you as a daytrader and you'll need a special account with a higher minimum balance.
Would anyone reccomnd Zecco? I am pretty much a beginning at doing this so any help would be appreciated. Also maybe another noob question, I have been reading the pages in this thread and online okay so let's say I buy a stock of company ABC at $10 a share and I buy $1000 worth. If the stock goes up to lets say $1200 dollars, do I get that money after the 3 business days, or do I have to wait for the companies dividends payout days?
u get the money after 3 business days if you sell today. Divident is not completely depending on the share price
Zecco sucks. I've used them for a while but I will be switching soon. The cheap trades are nice, but you can't even get live streaming quotes without paying an extra monthly fee.
nope just panic. some really good buys out there still. lots of good yields on fixed income and closed end funds.
Yes, some are picking through the wreckage in the MLP sector. LGCY up nicely with LINE doing OK. ENP still not getting any love. If Crude could establish a bottom, then the MLP sector would get some more buyers.
What do you all think about Transocean @ $68? P/E at about 7 and 1/2, EPS at 9...seems cheap right now. Or at least the selling seems overdone. Looking for a bounce to $75...hopefully.
Audio of the S&P Futures Pits during the crash yesterday. Wow! http://www.archive.org/details/MarketCrash-06May2010-SpPit
dow fell 139 today - rumors that a citibank trader accidentally typed in an M for millions instead of T for thousands on the order entry
That's risky. Depending on the investigation, Transocean may be the one company that CAN'T come back from the spill. Depending on future litigation, BP may recoup Billions from them and they are not near the size of a supermajor oil company.
Okay sorry for the questions, but when it says 9.95 per trade, do that only mean when I buy the stock? Or does is charge me for buying AND selling it so two times?
9.95 for buying then another 9.95 for selling. Usually you can get a discount for buying automatically.
I am trying to understand one more thing. Margin rates, will this percentage be taken out of my commission? Or do they take this out every month?
Margin calculations and the resulting charge is separate from brokerage rates for buy/sell. Unless you have already demonstrated the ability to be able to make more in the Market than what will be charged in Margin, stay away from buying on Margin.
I feel bad for those jumping in on this. Truthfully even though I am flat this is not a bad buy down here, for a trade. The sad part is I doubt many of those buying here are planning to sell out at 1160, or 1180 max. For those jumping in to "invest", take a longer term perspective and look at where we are coming from. They have rallied this thing all the way back to 9/19/08 levels, the day the real vertical down move started. All along the way there has been NO volume, NO real buyers, just an ever rising level of complacency in the public. Finally we have reached a point where the big "ALL CLEAR" sign is flashing, and the Joe public is ready to jump back on board. It is no coincidence that this is occurring at the exact same level that all those institutions are stuck from. Now that they have successfully fed you a facade of calm, a false sense of security, the fish is ready to take the bait. Because there was not enough liquidity 2 years ago, the big money that have been stuck have now engineered their exit, now, on to YOU. No, I do not expect us to go straight now from here, there will be plenty of backing and filling. But think of Feb/Mar 09, would that have been a good short? Well the oversold and fear of that time is equal and opposite to the overbought and complacency of now. And you are looking to buy?! Yes the Black Thursday of 2010 may look tempting to some, but rest assured, this is no 1987, and I doubt there will be a similar rally up from here. Look at the big picture. Don't fall for their bait. If you are unwilling to short a rally here, at least don't buy this falling knife. I may be totally off on this, then I will lose some of my own hard earned money since that is what I am putting up at stake. But I, and many traders here are nimble enough to maneuver if we are wrong. If you are an "investor" and you are looking to "invest" at these levels, then this post is for you. Just a different perspective and fair warning for all of those "buying on the dip".
i agree with your sentiment for now CX. the trend was already changing before the crash and the crash has solidified a downtrend for now. people are looking for reasons to sell and not reasons to buy. not sure how far we go, but a retest of the crash low would represent a very nice area of support to look to start buying at. i hope we get there on monday
