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I've been to a lot of mountains in CO, but I haven't made it to Steamboat yet. That is a must on my todo list! I hear all good things.
Yeah I fly from Michigan to Colorado as often as possible. Michigan just doesn't cut it. Many of my friends live around Denver, and we almost always head to Copper for long weekend trips, I love it!
Check this out,
http://www.npr.org/templates/story/story.php?storyId=126798122
If Transocean wins their petition to cap its liability from the massive oil spill to $27 million, after $533 million from insurance, it'll break even on the entire disaster. Maybe next time they can turn a profit.
How sad. That mean means all the families who lost someone, the fishermen, the environmental groups, the damaged communities and ecosystems... all of them... will have to split $27 million from RIG. Of course that's not counting BP, but still... wow.
Dear MMs, I love buying on these dips. Hopefully the squeeze comes soon, but I won't complain if we keep getting to buy cheap shares. Thanks!
Just finished the last 2 days of posts in a Monk Den and CDIV after work. And I would just like to say the more and more I read, the more I love this group, having the privilege to learn from you guys, and getting the opportunity to participate in the lock downs plays. We have some honest, helpful, successful, and very knowledgeable traders here and I'm really thankful for that.
Yeah short season this year... I didn't get much use out of my Copper Mountain pass this year.
BDKeg do you day trade as a business? According to the link you posted (http://www.thereibrain.com/realestate-blog/2007/10/capital-gains-tax-rates-state-by-state/) in-state CO businesses don't have to pay state capital gains tax.
I'm guessing you're talking about the sponsored link (at the very top in beige?). Those will rotate constantly. The actual google results don't rerank often.
How much capital did you guys (monkinar students) raise before you fully committed to day trading? And if you could do it all over again would you save up more or try with less? Thanks!
I bought the paperback version. It's got a chart on nearly every page. I can't seem to find an "illustrated" version on google; I think you should be all set with the paperback version:
http://www.stikky.com/0003-stockcharts/0003-fulldetails.htm
http://www.amazon.com/Stikky-Stock-Charts-Professionals-Smart/dp/1932974008
After reading the book, I can say it's a great place to start if you're new to Technical Analysis. It's the perfect TA 101 book. But if you're not new to the TA scene then I would recommend something more advanced. Take care!
Although you could locate the company in a state with tax advantages. Kind of like how most companies are "located" in Nevada when they have almost no bricks and mortar in the state.
I don't understand how you would pay less taxes. But I'm very interested if you find out more.
I would think the company could be used to limit your salary so you don't get put into a higher tax bracket. But then the company would have to have a bunch of expenses or report a profit (which is not good) for the left overs. And if you were an employee of the company, the company would pay for half of your social security, but that's not really saving you money since it's coming out of both your pockets either way. Hmmm...
I look forward to doing that later this year.
So far it's all very basic. I'm not new to investing. So I hope the book gets into some more helpful information. I'm not saying it's bad or anything. Just nothing new for me yet.
See post #215745.
I'm not a day trader yet. But I do pay for my own health insurance.
I recommend getting something with a high ($4000 - 5000) deductible and very low monthly payment. Save all the money you would have spent on a cushy plan and put it in your own personal savings account. Get a plan with zero out of pocket (zero co-pay) after the deductible is met.
As an example. If the cushy plan is $200 a month ($2400 per year) for the works. And the high deductible plan is $50 a month ($600 per year) for a $4000 deductible and zero out of pocket afterwards. You would have to spend between $2400 and $4000 to actually get your money's worth out of the more expensive plan. Otherwise if you spend below $2400 or above $4000 (in an accident) then you are a winner with the cheap plan, ding ding. And year after year you can sock that extra money.
And with insurance doctors will be much more willing to see you and you will get all sorts of discounts.
I got my Stikky's Stock Charts book today and just read the first section (1 of 4). It's really easy stuff so far. I hope it gets a little more challenging in the remaining sections.
TSHO isn't tied to the indexes. They may have both gone down but it's completely unrelated. There is no institutional money in TSHO. Money fund managers don't play stocks like TSHO. Most have guidelines that wouldn't allow them to even if they wanted to.
Since no institutional money is in this stock at this point, I don't think it matters what the major indexes do. TSHO is in it's own little world.
Thanks alphaX!
I love this concept. But if the MM's have to cover when audited...
* What stops us from all setting our sells at $1000 (besides MM's declaring bankruptcy)?
* What kind of timeframe do the MM's have to comply with the SEC after an audit is initiated?
* Can they take the fine instead of buying back shares?
* What's to stop them from stalling forever if we set the price too high?
* Can failure to comply result in criminal charges?
* Would they just drag out covering and throw waves of lawyers at the problem?
Sorry for the newb questions. Thanks for the insight!
I wouldn't be surprised if manipulation is at play. I don't know if many of you noticed, but skyes posted on the tsho ihub boards today. It didn't hang around for more than a minute or two before the admins deleted it.
I used to live in a corn field. So I'm not the greatest at watching paint dry, but I'm amazing at watching corn grow! Haha. I actually hope this holds off for a while so I can keep adding to my position as my funds clear.
Makes perfect sense to me ramseyacdc1980. I'll look up that date when I get home from work (when I'm not having to iPhone my way around the internet haha) and mark it on my calendar.
Thanks Klospin. That's what I'm talking about.
Very good to know! Many thanks.
Thanks pchouston73, I've seen the PRs already. They only say uplisting will be initiated "shortly". Shortly could mean days, weeks, or even months. So I was just looking to see if there has been some inider updates on the boards since then. I love trying to keep up on the ihub boards... But it can be quite a task with all the post volume and my day job getting in the way.
I'm no expert but I think naked shorted shares won't show up on your short I interest reports. And naked shorted shares are how the MMs sell us shares when none of the actual share holders are selling... Which most holding at a loss, on a great PR day, would not do.
What are the facts on the uplisting? Was it initiated already and were waiting for paperwork? Do we have a rough target date or is it all purely rumor at this point? I'm not in any hurry, but I'd like to be in the know if any details are available at this time. Thanks!
Everyone holding long has to realize that there forces at work that we have to understand. If market markers were selling naked shorted shares of TSHO yesterday (something we can't detect). They aren't going to want to cover at these prices. They are going to sell to each other to walk the bid/ask back down. They don't lose money because they are esentually selling to themselves, they create doubt and fear in the share holders, they make the chart technicals look lowsy, it's a win across the board for them. And shorters who were short TSHO at $0.27 based on it's lowsy technicals and indefinite dark period will want the same thing over extended MMs want. Notice how all the bashers are back in action after falling silent while the stock steadily climbed down. Remember that!
I could really go for another 74% day tomorrow.
Playing "Where's Monk" with the iBox pictures is a fun game I just played. Highly recommended if you don't know what Monk looks like. He is in all of the pictures.
I'm very glad I've finally learned how the market makers actually operate. I feel like it has opened up so many doors for me.
For example, look what they did to POZN on April 30 (1min candlestick) Within the timeframe of a minute they dropped the stock from 12.24 to 5.50 and then bought all the way back up to 11.47 after a few minutes passing. All right before POZN got their new drug approved later that day in the after market. Just think of all the long (and now confused) investors they screwed over by clearing out everyone's stop losses. It's sickening.
But knowing the way of the MM helps me 1) never get caught with a stop loss sitting around and 2) next time I can try to catch the MM manipulated bottom to make a quick 100%+ profit in 5 minutes; instead of reeling in fear because I thought some large institutional investor pulled the plug.
I don't know how someone came up with the new product's name... But after thinking about it, I think that goofy name will give people a lot to talk and joke about. It could help spread the word. And its easy to remember. You'll just have to be careful when you're tryng to google search for it, haha.
FYI, I bought a 5000 block at 0.509 (actually I bid 0.51 but executed at 0.509) right before you asked.
I just added three (3x) 10,000 share blocks and a 2,500 share block to my position today. That brings me to a grand total of 72,025 shares. And I'm planning to hold strong until the squeeze has fully developed. Cheers. Time for me to get back to work.
Technically the etrade 2 second guarentee isn't for pink sheet stocks.
(Edited) Scottrade is fast. But that is about all I liked about it. The penny stock pricing is terrible. I emptied out my Scottrade account and use it only for research now. (They won't expire your service which is nice). Oh and their news alerts, while overwhelming, are ahead of most of the other news that I can get my hands on. If you want to go that route I'd set up an email account just for alerts.
Zecco has a great pricing structure. And the flat fee is nice for penny stocks. But it doesn't really have many features. And as someone who can't watch stocks all day (yet) I'm starting to become a fan of the triggers, conditions, and pre/post-market overlap offered by the more expensive discount-brokers.
TradeKing seemed good at first. But I ran into some major headaches. If you have an order in and try to change it after the bell, they don't process it until the next day. So no canceling GTC day orders and rentering to execute in the post-market (which has burned me before). Plus you have to actually enter the orders once the post/pre market has begun, which is a pain for me. TradeKing will make you use their brokers at times when dealing with penny stocks (although brokers assisted is the same price which is nice). But I'd rather not talk to people when I want to trade, it's too slow. Finally they charge a penny per stock for penny stocks which is a rip off.
I love TDA. All orders (including penny stocks) are a flat fee. And if you have enough money (20K+ ish) they'll lower the price of trades after dickering and dealing with them. It's fast and you can make orders span across pre-market/post-market/normal-day trading. Great for setting limits and snagging a deal. Also I love their triggers which allow you to put stops without advertising them. Plus ThinkOrSwim is free to use right now. But TDA like some others has denied me from buying penny stocks because of the associated "risk". So I continue to search.
OptionsHouse was alright. Cheap. That's about all.
I've tried a few others which I wasn't too keen on, but it was only briefly so I don't have much input on those. I still haven't tried Etrade, Interactive brokers, Schwab, and a few others I'd like to dabble in. Schwab offers "flash" trading (which might get regulated) but if speed is your thing for trading the "F's" then you might want to look into that broker as well.
What discount broker does Monk recommend for penny stocks?