Picking individual stocks

[Clarkfan2]

I've been really dismayed with american stocks for some time now and October will be no exception. Today I finally came off the sidelines with a brokerage account purchase. I shorted GM. For those not familar with shorting a stock..you are basically betting the stock will fall in price instead of go up. I am shocked at how good I did...and how bad the company did today.

 

Anyone else care to share some recent purchased. I'm still high on ETF's in Brazil, Mexico, and Latin America.

[hurricanesfans27]

considering delphi went bk youre surprised by how GM did today. hope you shorted before today or you missed the big hit.

[miked0801]

Puts were yummy today

[Clarkfan2]

Bought to cover today...nice little profit.

[james]

Bought to cover today...nice little profit.

<{POST_SNAPBACK}>

So, you buy stocks on credit? Is this thread anything other than bragging.

[hurricanesfans27]

multiple post

Edited October 11, 2005 by hurricanesfans27

[hurricanesfans27]

Bought to cover today...nice little profit.

<{POST_SNAPBACK}>

So, you buy stocks on credit? Is this thread anything other than bragging.

<{POST_SNAPBACK}>

 

 

funny.. my intraday on scottrade shows GM tanked right from the start yesterday when he claimed to have shorted and today if he covered its up .84.. the only thing he covered was a short squeeze. its bragging about what he wished he made

<{POST_SNAPBACK}>

[Clarkfan2]

You have to have the money in a brokerage account before you can short sell stocks. (That includes shorting stocks) Yes they offer margin but I only bought 4k worth using no margin.

 

 

I didn't consider it bragging at all...I asked what other people where doing. Since this is the money management section, we used to talk about different investments all the time. If no one cares about exchanging ideas on making money...thats fine with me.

 

Their loss.

 

P.S. Yes GM tanked yesterday and came back just a little this morning. A short sell is one where you are saying the stock will go down...not up.

 

 

Clark

Edited October 11, 2005 by Clarkfan2

[james]

You have to have the money in a brokerage account before you can short sell stocks. (That includes shorting stocks) Yes they offer margin but I only bought 4k worth using no margin.

You can't short stocks without a margin account.  So you are buying the stocks with credit.  Total profit you made?

I didn't consider it bragging at all...I asked what other people where doing. Since this is the money management section, we used to talk about different investments all the time. If no one cares about exchanging ideas on making money...thats fine with me.

 

Their loss.

 

P.S.  Yes GM tanked yesterday and came back just a little this morning. A short sell is one where you are saying the stock will go down...not up.

 

 

Clark

<{POST_SNAPBACK}>

[Clarkfan2]

Technically you sell shares first (borrowed from the brokerage) then you Buy to COVER....However, you have to HAVE THE MONEY IN the ACCOUNT to do it! I have never been critical of margin accounts for investing-- I am offered margin on several accounts--which is a different animal entirely from someone going out, getting a cash advance on a credit card (money they don't have) and trying to invest it. There is a huge difference.

 

Ok to the smarty pants (james) that is questioning me. First, I was doing good on the first day (Oct 10) but made the mistake of holding overnight which cut my profit a great bit.(Covered early morning Oct 11) I did end up with more than $100.00 for the few hours I held the stock unlike the $240.00 I was ahead the day before. I sold short at 27.02 ....you do the math if you have anymore questions. I'll probably not share anymore detailed experiences since we have so many smart folks here who want to question every detail yet don't do the same for others. I'll leave the sharing up to you!

 

I'll stick to the vague generalities of the past.

 

Clark

[james]

Technically you sell shares first (borrowed from the brokerage) then you Buy to COVER....However, you have to HAVE THE MONEY IN the ACCOUNT to do it! I have never been critical of margin accounts for investing-- I am offered margin on several accounts--which is a different animal entirely from someone going out, getting a cash advance on a credit card (money they don't have) and trying to invest it. There is a huge difference.

 

Ok to the smarty pants (james) that is questioning me. First, I was doing good on the first day (Oct 10) but made the mistake of holding overnight which cut my profit a great bit.(Covered early morning Oct 11) I did end up with more than $100.00 for the few hours I held the stock unlike the $240.00 I was ahead the day before. I sold short at 27.02 ....you do the math if you have anymore questions. I'll probably not share anymore detailed experiences since we have so many smart folks here who want to question every detail yet don't do the same for others. I'll leave the sharing up to you!

 

I'll stick to the vague generalities of the past.

 

Clark

<{POST_SNAPBACK}>

Thanks for the clarification. I meant no disrespect. I only wanted to point out that you have to have a margin account to short stocks. I also want to let people know that shorting stocks is risky. Good luck on your trades and I look forward to reading your posts as always. Another stock you may want to short is SHLD. Check out http://www.tradingmarkets.com/.site/ it's a good trading website. If you want to go long on a stock, I suggest FDG. It's a met coal trust from Canada that pays a 14% Distribution. Check us out on the Yahoo finance board for FDG.

[hurricanesfans27]

yawn