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

[wizards23]

http://www.yourdailywatchlist.com

Good for finding free ideas, potential breakouts / breakdowns. I prefer to do my own scans and post my own watch list but this may be of use for others - a solid resource. It is ran by a veteran trader, @stt2318 on twitter

 

[wizards23]

took FNMA profits 3.13-3.14

broke trend, left a bunch $$ on the table oh well

Edit:

they shook me out and I realized profits. Took some more, less size 3.24-3.25

 

[based mod]

Ouch! Still mad that I didn't get in when it was 1.10. Stupid OptionsHouse charging per share for stocks under $2

Not that I would've been brave enough to hold once it broke 2

 

[wizards23]

^ yea man I'm heated for getting shook out. Let go of my good average

Still think it has more upside

ONVO ugh fumbled that short watching fannie

 

[freakydestroyer]

Got rid of LNKD calls this morning. Oh well, next.

 

[andycrazn]

ONVO with the 60% move this week!

 

[based mod]

Got rid of LNKD calls this morning. Oh well, next.

Was looking for an entry point to go long. Missed it at 210

 

[jaypesoz]

So I've decided to start investing in the next week or so but it's probably not gonna be too beneficial for me to start at the end of this thread. I see you know what you're talking about wizards23, got any recommendations on some good startup reading in the meantime?

 

[freakydestroyer]

Got rid of LNKD calls this morning. Oh well, next.

Was looking for an entry point to go long. Missed it at 210

That's around where I got in last Friday. Gave you guys the heads up.

 

[secretzofwar]

So I've decided to start investing in the next week or so but it's probably not gonna be too beneficial for me to start at the end of this thread. I see you know what you're talking about wizards23, got any recommendations on some good startup reading in the meantime?

If you want to invest rather than trade, I can help you out. wizards23 is a trader which is much different from investing.

 

[jaypesoz]

If you want to invest rather than trade, I can help you out. wizards23 is a trader which is much different from investing.

Oh ok. Yes, I'm looking to start investing. I've been reading what I can but with all these sites on googles, it's a bit overwhelming. I was thinking of getting my feet wet by putting $5k towards a mutual fund and another $5k into stocks. Am I starting off on the wrong foot with that?

 

[secretzofwar]

Oh ok. Yes, I'm looking to start investing. I've been reading what I can but with all these sites on googles, it's a bit overwhelming. I was thinking of getting my feet wet by putting $5k towards a mutual fund and another $5k into stocks. Am I starting off on the wrong foot with that?

It's never a bad time to start, though I tend to prefer index funds over mutual funds due to fees. SPY is a good place to start.


As for investing - I really think you can start at any time, but you may lose money at first if you don't do sufficient research. But, in reality, I think most people can do a nice job picking stocks once you have the right mindset and knowledge. Plus, it's fun being in control of your finances.

I'm not sure what your background is, but as a novice, you should read the following books:

You Can Be a Stock Market Genius - Joel Greenblatt
One Up on Wall Street - Peter Lynch
Snowball: Warren Buffett - Alice Schroeder
The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market - Pat Dorsey
Common Stocks and Uncommon Profits - Phillip Fischer

Then you can graduate to some more technical stuff:

Benjamin Graham
Dhando Investing
Fooling Some of the People All of the Time

It is a large reading list, but investing is super competitive and requires hard work. I've been investing for about 7 years, and I learn new things every day and occasionally make mistakes. I've also worked in the investment field for a few years, but I found these books taught me far more than my employers ever did.

Feel free to PM me with any questions.

 

[thestranger]

asdsada

 

[sunsetcity]

Im waist deep into nuan

 

[thestranger]

 

[mcflipxside]

Been looking at the stock market for a little over a year now and plan to jump in soon. You guys have any advice on which trade site is best? My friend tells me to go with Scott Trade, should I go with that?

 

[wizards23]

Scottrade, etrade, Ameritrade are all solid retail brokers

 

[secretzofwar]

^yup. Most of the online discount brokers are the same give or take a few dollars of commission. I've noticed that TDA has very good execution and I've never had an issue getting a stock I wanted long or short.

 

[wizards23]

TDA does have good executions in my experience

 

[mcflipxside]

Thanks! I think imma go with Scottrade since it's fee is a couple bucks fewer

 

[freakydestroyer]

I think the most important thing to consider these days is the mobile app the platform has to offer.

 

[mk25tolife]

What do u all think of Pandora stock? It has tripled in the last year, I have been following for last few months and think it will drop but it keeps going up, it's crazy. It gotta be one of the best performing stocks of 2013.

 

[peabrain]

Anyone have any thoughts on Barrick?

Peter Munk just stepped down, Nevada Mine in the process of being sold as well as Two Fish Mgmt

trying to influence the company to go down a more positive and profitable path

 

[wizards23]

Pandora (P) has earnings Thursday after hours and the chart is starting to get extended again. I would be watching from the sidelines into earnings if I was looking to enter a longer term position. As long as it holds the trend, this stock would be a buy the dip type play for investors. A trader like me will be watching for a parabolic move to 35 for a short

Barrick Gold (ABX).. I used to trade this one heavily a few years ago along with the other gold stocks. I would want the stock to hold 17.50-17.60 if I was long. This name really needs to get over the 18.50 area and get into the gap to get moving up. Decent trend if it holds

 

[secretzofwar]

What do u all think of Pandora stock? It has tripled in the last year, I have been following for last few months and think it will drop but it keeps going up, it's crazy. It gotta be one of the best performing stocks of 2013.

I think the market is afraid of a takeover, hence why it's price is so high at the moment. The company is having a hard time monetizing, and it did lose 2 million users M/M.

That being said, the trend is your friend in the short-term here.