If you’re looking to start up a retirement account, that’s one thing. Go for it.
But, if you want to invest to make money, there is a lot more bloodletting to be had. I wouldn’t touch the stock market until the consumer credit problem is fixed and jobs start coming back. Yes, it’s a tall order to call the bottom exactly and buy in then, but I’m confident that we haven’t seen it yet.
Go buy gold or invest in all the fine art that’s being hemorrhaged by Madoff victims.
edit: BTW here is a good article on Gold I read recently. Haring away
Gold could become a fairly low risk entry soon. It should be testing that channel it broke up from in the near future. That’s where I’d be looking to give her a go. Good luck with all the articles though…there is so much hype on gold and silver I would line the fireplace in those articles. LOL
Added—
How will you know when the job and credit issues are over? News? News lags…right now news is at extreme doom n’ gloom levels as is retail trader sentiment. That’s what tells me a bounce is likely. Full reversal, maybe not. But a bounce is very possible IMO.
I’m bout to go long DDM shortly.
Debating about buying half here and the rest just before close. HRMMM
I’ll be out of the house and I don’t feel like splurging on the extra $5 commish tho. LOL
Decisions decisions.
Lil late for a recession buy IMO. Buy low early sell high later. I’m not saying gold isn’t going higher persay but talk about late to the party here. If one wants to chance gold the shot is at the channels re-test and run a fairly tight stop cause it could collapse and revert back to the channels groove.
Number of the billionaire beast.
Man you’re brave as hell riding FAZ short on the breakout. Volume has been light so far today though…I hope she collapses for ya.
Added—
I guess I’m just as brave fading the trend on the indice huh? Pot…meet kettle.
its gotta happen some time. The equity in my portfolio might be 0 by that time, but she will fall. And when it does, it will be huge. I put 5 grand into it. It’s just over 9 now. I took my short FAS profits off the table so they can be eaten up by this thing. But with 9 grand of exposure, when it falls, the dollars will rack up, just like they are in the other direction.
Yes, it smacks itself off the top right around 100 to 105. Just like it smacked off the bottom yesterday afternoon. I think if it plummets to 85 or so we could see the bottom break this time now, we’ve tried to break it twice this week with minimal success.
With $400 you kind of have a point…it’s a tough game when you factor in fees. Especially when trading shorter timeframes. Longer term the fees should be irrelevant as the gains should be much bigger. In any event commish is just cost of doing biz and shouldn’t be looked at heavily IMO.
Longer times and larger trades yes. But if your fees are a percentage of your investment you’re just making it that much harder on yourself. If you’re new to it. Take the $400, put it in a savings account. Add to that account until you have a bankroll of money you don’t need. In the mean time, read and work with simulators and learn.
Between fees, taxes and losses, it isn’t worth putting a few hundred bucks in to the market IMO.
