SSF Stocks/Investments thread

[Phenix]

I don't day trade, but I do work in the industry....

What do you do? Advisor? Analyst? Other?

I work in operations/management. I currently hold my series 7, 9, 10, 31, and 66 licenses.

As far as investment goes I have a rollover IRA (rolled over from my previous 401k) and it is managed so I don't need to watch it. For additional investing I add 15% of my paycheck pre-tax to my 401k. Right now it's in cash funds so I avoided this downturn.

 

[comiclover47]

Re: Anyone investing in stocks?

My 401k is dieing a sad death right now.lol and my only other foray into the high finance didnt end all that well either

 

[karamazov80]

Re: Anyone investing in stocks?

That's a darn good start. Even if you go and meet with an advisor I would recommend that, too. They have insight and research into many things others don't.

If you do have trading questions, though, feel free to PM me.

Thanks. I've actually got an investment guy who works for a bank, but he said it wouldn't be worth the fees would would have to pay for him to deal with individual stock trading, so I'm probably just gonna go to one of those online trading sites or whatever. Can you recommend one in particular?

 

[devilof76]

Re: Anyone investing in stocks?

Way ____ looks to me I'm investing in bullets, clean water, and non-perishable food, but that's just me.

It can't happen here.

 

[Mesa]

Re: Anyone investing in stocks?

I'm hoping for some change as my retirement fund dwindles away to nothing due to anti-business re-distributive socialist policies.

 

[Phenix]

Thanks. I've actually got an investment guy who works for a bank, but he said it wouldn't be worth the fees would would have to pay for him to deal with individual stock trading, so I'm probably just gonna go to one of those online trading sites or whatever. Can you recommend one in particular?

Well, there's E*trade and Scottrade. Just take a look around at their fees and trading platform (some of these companies allow you to take a trial to see if you like it). I'm sure there are more these were just the first 2 I could think of.

 

[gibby]

Re: Anyone investing in stocks?

I work in operations/management. I currently hold my series 7, 9, 10, 31, and 66 licenses.

As far as investment goes I have a rollover IRA (rolled over from my previous 401k) and it is managed so I don't need to watch it. For additional investing I add 15% of my paycheck pre-tax to my 401k. Right now it's in cash funds so I avoided this downturn.

So which one was the toughest for you...9&10?

On top of some of the licenses you listed, I've also always wanted to get a CFA designation. That always seemed like the true pinnacle for me (Finance grad). Maybe someday.

Thanks. I've actually got an investment guy who works for a bank, but he said it wouldn't be worth the fees would would have to pay for him to deal with individual stock trading, so I'm probably just gonna go to one of those online trading sites or whatever. Can you recommend one in particular?

Phenix mentioned two very good ones. Scottrade has some of the lowest fees if I recall ($7 each trade, $14 roundtrip - buy and sell), and they're platforms are very nice as well. There are other options out there that base your fees off of shares traded vs a flat fee off of one trade. If you trade a small amount of shares each trade, you may be better off looking for something that's priced accordingly.

Out of all of them, though, I prefer TD Ameritrade for their thinkorswim platform, StrategyDesk and live streaming of CNBC. I would highly advise setting up a paper (test) account in thinkorswim where you trade/test real time without putting your hard earned money on the line. Then with StrategyDesk, you can back test your strategies using triggers/algorithms provided, or you can write your own. It also has realtime alerts and automated trading, but that discussion can be for another day.

 

[Phenix]

So which one was the toughest for you...9&10?

On top of some of the licenses you listed, I've also always wanted to get a CFA designation. That always seemed like the true pinnacle for me (Finance grad). Maybe someday.

The 10 was hardest out of those two. The 9 was all about options and I'm good with numbers. The 10 was all about rules and regulations. I still feel like my hardest one to date was the 66.

Right now I'm studying for the CFP. I'm planning on taking the test in Nov.

 

[gibby]

Re: Anyone investing in stocks?

The 10 was hardest out of those two. The 9 was all about options and I'm good with numbers. The 10 was all about rules and regulations. I still feel like my hardest one to date was the 66.

Right now I'm studying for the CFP. I'm planning on taking the test in Nov.

Yeah, I wouldn't do well with rules and regs either. I'm strictly a numbers guy.

Very cool and good luck. Is the CFP a tough one? I honestly don't know anyone that's taken it. All my Finance friends became analysts.

 

[Phenix]

Well, there's a 6 session course that you must take to pre-qualify for the test. Then when you take the test it is done in 3 sessions over 2 days. Total of 10 hours for the test. Basically you have to know a bit of everything about financial planning. Taxes, retirement planning, economics, asset allocation, estate planning, etc.

 

[gibby]

Re: Anyone investing in stocks?

Well, there's a 6 session course that you must take to pre-qualify for the test. Then when you take the test it is done in 3 sessions over 2 days. Total of 10 hours for the test. Basically you have to know a bit of everything about financial planning. Taxes, retirement planning, economics, asset allocation, estate planning, etc.

Wow, that sounds as bad as the CFA!

 

[jonny88]

Re: Anyone investing in stocks?

one of my cousins husband runs a oil rig here in Alberta. for christmas and stuff he gets stock options. he makes lots of money in stocks. not sure what kind. the stocks he is in work much better if you have an in with the company like he does. him and my uncle put in a bunch of money. then the stock went down. my uncle got worried and took his money out, he made quite a bit but was scared he would loose it all. then it shot up and my cousins husband made $750,000. this was about 7 years ago. he is a multi millionaire from his income and stocks.

 

[Phenix]

Typically I have seen companies offer their employees special pricing on their stock, like half price, but the stock is restricted and the employees have to hold it for a specified period of time before they can sell it. Also, some companies give bonuses in the form of stocks, but usually those have restrictions as well. However, there are ways for these people to sell the restricted stocks, it's usually a bit of a process and usually only done for large quantities.

 

[Mesa]

Re: Anyone investing in stocks?

S&P dowgrading US debt/borrowing from AAA to AA+ rating today certainly wont help the markets come monday.

A first for the United States.

https://www.cnn.com/2011/BUSINESS/08/06/credit.rating.reaction.cnn/index.html?hpt=po_t2

https://www.foxnews.com/politics/2011/08/06/credit-ratings-agency-defends-downgrade-us-debt/

I think it's a pretty sad state of affairs, especially since it appears like the administration isn't taking it seriously and say the downgrade was due to some $2 trillion dollar accounting error that made the US debt radio looks worse than it really is. Ridiculous that no one is willing to step up to the plate and solve this damn problem.

 

[gibby]

Re: Anyone investing in stocks?

It will be interesting to see how the markets react. You could see a sell-off and bounce.

I'm still looking at the 1170-1175 mark on the s&p as support. This is part of a major channel that is around 2yrs old. It was tested last week and held, but it's a wait and see for this week.

I'll be on the sidelines looking for buying opps.

 

[Phenix]

I agree that Washington needs to step up and stop their whining and bickering and get stuff done. They are too worried about getting reelected. IMHO I think that all of these lifetime politicians need to be voted out and we need to get some people in there that actually have work experience and are willing to work on things that will make more of difference than getting reelected. Also they need to cut their pay and benefits.

Anyways, I hope that doesn't spark any political debates, but I feel those changes would positively effect our government and economy.

On the investment side it may not hurt the stock markets as much as we think. The US has no traded stocks. They have bonds, notes, Tbills, etc. We may see a slight selling of US debt as investors search for more "stable" debt investments (Higher credit ratings). This activity will cause interest rates to increase and also cause lending rates to increase (since basic lending vehicles are tied to US debt rates). I'm no analyst, so I wouldn't be surprised to see a dip in the US markets, but I don't think it should be that bad. However we've seen in the past how investors seem to panic. Although the more important investors will be the institutional investors (mutual funds, 401k admins, etc). I wonder how they'll react.

 

[Phenix]

Did everyone hold their arms up as we dove?

Down 633.78. This was 3 minutes after the close, so there is still a small amount of tallying going on.

***edit***

634.76 - final

 

[gibby]

Re: Anyone investing in stocks?

HUGE swings in each direction the whole day. The s&p broke through 1170 quickly but looked like it could hold for awhile. Then it took out 1158 and bounced back upside again. It sure didn't end well, though, taking out 1158 and well on it's way to taking out 1109. Just unreal.

Hope the Fed has something reassuring to say tomorrow, otherwise you could truly see a double-dip.

Sept 1st can't get here soon enough.

 

[intothevoid]

Re: Anyone investing in stocks?

Double dip is just a matter of time I feel

 

[Sweet Rabbit]

Re: Anyone investing in stocks?

Did everyone hold their arms up as we dove?

Down 633.78. This was 3 minutes after the close, so there is still a small amount of tallying going on.

***edit***

634.76 - final

ouch