Big Boys Hobbies

anybody involved in the stock market?

tylerb_drums

tylerb_drums

Junior Member
Joined
Aug 4, 2010
Messages
98
Location
Decaturville Tn
im a finance major in college and am looking into starting to trade on the stock market. im thinking of swing trading or day trading to make a little spare cash here and there as i dont really have enough money to dedicate to long term investing on my college kid budget. that will come later but the returns on the small amount i plan on investing wouldnt really be worth tying my money up that long. now i know that its not realistic to think i will make boat loads of money just starting out, but i think i could make 20 bucks here and there (: thats food for a few days in college. any ways im rambling. what do you guys think? have you been successful on the stock market? any tips for trading? im trying to get a realistic view so that i dont go into this naive.. thanks!
 
I think you would have better luck at the casino, or with your metal detector :lol:

I'm not involved though so what do I know...
 
Just curious though what stocks would you pick and why, how much money can you afford to lose?
 
hmm not sure thats why im asking people lol any stock that i thought would grow somewhat quickly over a day or a week. found one pick online yesterday and it told me to buy and today it rose 8% which is pretty good.
 
You would think GM stock would start to increase in the near future. But what do I know. WARNING: I am not a financial advisor, nor do I play one on TV. Remember advice is worth what you pay for it.
The best advice I got was this: The safest way to double your money is to fold it over and put it in your pocket! :yes:
 
I'm in the market through my 401k. Like most people, I've watched it melt away the past couple of years. Very frustrating. I HAD a sizeable chunk of money in it. I'm all in with stocks. High risk and I've paid dearly! ;)

I no longer contribute to my 401k. However, I haven't touched what I've already put in. Right now, I'm investing in silver. This includes, junk, ASE's, bars and rounds. I've got 10% of my assests in PM's now. That's plenty and I'll probably start looking for something else to invest in.

I'm all about diversification. You should have some stocks, some cash, some precious metals, some land, etc. This way you don't get wiped out if any one investment goes south. Don't be afraid to take you profits, either. I'm into silver for about $18 an oz @ 1000 oz. If silver goes up to $36 an oz. I'll sell half to recoup my initial investment. Too many people just ride everything out and miss chances to make money.

Some people, on the "buy low sell high" train are buying stocks like crazy now. Maybe they'll be filthy rich because of it. However, the level of government intrusion in the free market is terrifying. The market won't work like it is supposed to with all the new rules and regulations. Things are different now. We'll see how it plays out, but I don't trust the market more because of government control...I trust it LESS.

Ok, I'll stop talking now.....
 
My involvement could be described as taking part in the losing of $..... There are far better places to put your $.
 
thats pretty awesome. im just trying to learn as much as i can since for one thing it is my major and another thing is the more you learn the more likely you are to make planned good decisions, although the amount of risk is always there no matter how much you know.
 
Im not involved perse, but I do have stock in Wal*Mart (as a safe security stock, like a savings account, never goes up much, never goes down much) and also stock in my current company, Schlumberger.

Not having sold any over the years, I'm still ahead by a couple grand, nothing worth selling over.

I've heard of people killing it in day trading, but it's a lot of time and effort. It has lots of potential, but yo uhave to have a true feel for the market to be successful, otherwise you'll end up on the streets.
 
yeah that is what i have read. big potential for profits but also high risk. but putting my lousy 500 bucks into a long term stock just isnt worth it for me right now. maybe when i get out of college and get a job and start planning retirement i could put some real money in. but right now short term seems to be where i want to go.
 
sectshun8 said:
Im not involved perse, but I do have stock in Wal*Mart (as a safe security stock, like a savings account, never goes up much, never goes down much) and also stock in my current company, Schlumberger.

Not having sold any over the years, I'm still ahead by a couple grand, nothing worth selling over.

I've heard of people killing it in day trading, but it's a lot of time and effort. It has lots of potential, but yo uhave to have a true feel for the market to be successful, otherwise you'll end up on the streets.
Click to expand...

Hey Jimmy,

I'm back holding some SLB stock again. Not a lot, just 100 shares, bought a few months ago at $56.44/sh. Last Friday it closed at $62.16. I figured that energy & oil services had taken a beating over the Macondo well disaster. With crude at $81.73/barrel and forecasted to go up and with the new requirements to plug up all the inactive wells on the Gulf, I figure old SLB will break through its 52 week high of $73.99/sh by year's end, giving me a handsome profit.

By far my best recent investment was APPL. Bought a bunch at an average cost of $99.67/sh. It closed Friday at $282.86 for 184% return.

My worst investment is Loews Corp (ticker L), where I have a paper loss of $2,700.

Overall, my IRA has recovered from the market collapse and is actually in the black again with a gain of 1.7%
 
tylerb_drums said:
so is it a good idea to do some paper trading first? not using real money for a while?
Click to expand...

Since you only have about $500 to invest, you are really not in a position to do much with individual stocks (you need roughly 20 different stocks to have reasonable diversification). Instead, buy a well diversified, high quality, mutual fund.

I'd recommend you take a close look at (OAKBX) OAKMARK EQUITY INCOME FUND. It is well diversified between quality domestic and international stocks and bonds. If you had invested $10,000 in OAKBX back on 8/31/2000 and reinvested the dividends and capital gains, you'd have $21,359.52 as of 08/31/2010.
 
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